Big Data encourages the inclusion of SMEs in the modern ecosystem, giving them access to valuable and necessary sets of information that leads to wise data-driven decisions.
By further extending the credit offerings & system supported by data and technology by ecommerce platforms, SMEs will get new channels of funding and capital, especially those in the rural areas.
Before large empires and companies monopolised information and knowledge. Now with information barriers falling around the world knowledge is unleashed that SMEs can leverage big data like any big company.
Evolution of big data analytics on the other hand have started generating surrogates which can supplement conventional credit parameters and in turn will augment lending and monitoring capability of banks more profitably.