According to the European Commission, the key economic drivers of growth in the European continent are the SMEs – they contributed 3.9 trillion euros to the economy in 2015. This is twice as much in comparison to the large enterprises. storage enterprise made up of 5% of the 22.3 million of the non-financial business economy in 2012. SMEs can further reap two to three times growth rate through the exploitation of advanced technologies (such as social media, big data, cloud computing and mobile).
Eurostat identified that less than 7% of the saudi arabia rcs data European SMEs have employed data analytics in their business; making a need for digital transformation as a high priority for the EU in this data explosion era. In an in-depth report by IDC on IDC European Vertical Market Survey 2012, it was ascertained that 48500 of the SMEs in the transportation and storage sector have yet to deploy data analytics in their business.
The transport and storage SMEs have been relentlessly labelled as laggards in the adoption of Big Data technologies. SMEs can become 5-6% more productive through the utilisation of data analytics in their business – as evident in the larger transport companies. Despite the momentous potential benefits of utilisation of big data analytics, the transport and storage SMEs are still dawdling in their adoption efforts. In 2012, the adoption rate of big data analytics of SMEs in the United Kingdom (UK) stood at 0.2% compared to the large enterprise, with an uptake of 25%. This is indeed an alarming figure, as the fast adoption rate by the large enterprise may eventually implicate SMEs to become irrelevant and absolute. Therefore, there is an urgent need for SMEs to adopt big data analytics. As such, an Intelligent Transportation Analytical Model (ITAM) will be developed with the aim to conduct an intelligent analysis for the SMEs – with the objectives of churning out new insights, showing hidden patterns and relationships within the existing datasets to aid business decision-making.