FEB 10 2015
Big Data continues to grow in 2015
During the last couple of years, everyone was talking about big data, but few people had the slightest clue how to do it productively and effectively.
So, what is Big Data anyway? That are a lot of definitions but the most simple one is that Big Data is a popular term used to describe the exponential growth and availability of data, both structured and unstructured. And Big Data may be as important to business – and society – as the Internet has become. Why? More data may lead to more accurate analyses.
The investment in Big Data Services is expected to be around 112 million euros in 2015. A study carried out by the Online Business School (OBS) refers that Big Data will be one of the biggest trends this year and will be responsible for the creation of almost 5 million jobs worldwide.
OBS points out that in the last decade has been generated the greatest amount of information ever, and that this trend should be extended for the next years. 2018 should register 10,2 thousand million of Internet connections via mobile devices (smartphones and tablets).
The study also predicts that until 2020, the EU GDP will grow by 1.9%, driven by Big Data. This digital phenomenon, resulting from the dissemination of information technologies and the expansion of the alliance between virtuality and reality, allows companies to design offers that best fit the needs and requirements of its customers and create predictive models that help avoid crisis situations, as excess production or sales drop.
In a worldwide perspective, small and medium sized companies should invest more than 67 millions euros in cloud computing this year, in a time where the number of companies using Big Data solutions will duplicate.
In Portugal we may see that the need to adopt solutions of this nature is not properly implemented yet, so companies still have a long way to go if they don’t want to miss the technological train. Management and analysis solutions of large volumes of data are considered key tools by 79% of the companies, since they will enhance the efficiency and accuracy of decision making, 78% of data is used for strategic decision-making and 73% is for Marketing and Coomunication Departments. The department that makes the least use of Big Data is the Human Resources with only 43%.
According to a study carried out by Teradata, the most common areas to invest in Big Data solutions are Health, Telecommunications, Banking and Financial Institutions, Insurances, Commerce, Public Administration, Industry and Information. Within four years or less, it is expected that the volume of data generated by smartphones/tablets is 63% higher than the current one. In the same period, it is estimated that M2M technology increase the amount of data on 113%.
