![]() "By 2020, hypertransparency will be the norm," said Intuit in its report, which projected big data usage into the future. The idea was floated at ZDNet's TechLines roundtable on big data and how more information will transform business and governments. What Smith and Intuit are ultimately tapping into is the idea that employees and the general population will become data literate. Advanced analytics will move from the domain of specialists to everyday users. The growing access to this massive volume of information – and the ability to refine and analyze it – makes it a new type of raw material, on par with capital and labor. This new data democracy will deliver meaningful insights on markets, competition and bottom-line business results for small businesses, as well as shape many of the decisions we face as individuals and families. Previously the exclusive domain of statisticians, large corporations and information technology departments, the emerging availability of data and analytics – call it a new democratization – gives small businesses and consumers greater access to cost-effective, sophisticated, data powered tools and analytical systems. The big idea for Intuit is to democratize data. Other products such as Demandforce, Loan Finder and Mint all have analytics angles. Its QuickBooks Online has a trends feature to show how businesses stack up to other ones in the area. Intuit is in a unique position to be a big data enabler for SMBs. "We simply weren't stepping back and looking at how to use the data." Now, Intuit has coalesced around the big data for SMBs mantra. ![]() "We could have gotten started a lot earlier," said Smith, referring to Intuit's big data analytics efforts. That sum translates into a big data pool. Of Intuit's 60 million customers, 45 million use cloud, mobile or digital services. After all, Intuit has insight on commerce, taxes and how its products are used. On a conference call, Smith outlined Intuit's internal big data efforts. The master plan is to democratize big data, build new businesses and become an enabler for small and mid-sized businesses (SMBs). The company, which basically serves as the enterprise resource planning and financial system for small businesses, already has a ton of data on its customer base. ![]() Intuit said that big data will ultimately be democratized to the point where small businesses will also benefit, according to Brad Smith, company CEO. 41 impressive questions to ask in a job interview ![]()
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