The relevance of analytical competitions depends on the size of the company and the peculiarities of the industry. Multinationals operating in several countries can hardly compete without analytics. They need to analyze big data to make correct decisions and attain their business goals. At the same time, for small companies, analytical competition can be a useless expense. These companies do not need to manage big data as they tend to know their customers and their needs perfectly well. An illustration of this point can be the difference between a small family business (a bakery) and a retail chain. The baker knows their clients and their preferences due to their close communication.
Retailers need to analyze their customer’s buying habits, preferences, changing trends, and such data to ensure that they make optimal business decisions and use their resources in the most efficient way. Clearly, retailers would invest considerable funds to obtain effective analytical tools, while a baker will rely on their good relationships with community members and everyday communication.