Let’s Talk Big Data

Let’s Talk Big Data

Let’s Talk Big Data

big-data-spend

More and more consumer data is collected every day. In fact, according to an infograph provided by Elexio, 90% of it was produced and collected these past couple of years. From how we use our credit cards, which stores we shop at and how we use social platforms, data is being collected in mass quantities. Now it is just a matter of how we use the data. Is all this information really significant or does the data in the amounts of hundreds of petabytes have little worth? Based on the evidence provided by Elexio’s infograph, information collection is costing the U.S. $900 billion; leading to a whopping 40% being thrown away due to not knowing what or how to use it.

While many are still unsure how best to utilize this information, more and more companies are continually insisting on accessing it.  As shown by Alteryx, even though companies do not know how best to use all the information gathered 45% of businesses say they need more. Not only do companies feel they need more data, they feel that more of their employees need access to the data in order to make more knowledgeable company choices. A whopping 77% of companies express the need for extensive employee access to such information for the well being of business decisions.

So, to what extent is this industry projected to grow in the next 10 years? Well, based on information provided by SAP, Big Data is a key element, along with the Cloud, Mobility and Social Business, in the 90% growth of 3rd Platform Technologies of ICT spending.  This growth will jump the need for data analytical positions within the industry. Currently around 68% of businesses still do not have a Big Data analytics team, however, with the projected growth of this niche that percentage will diminish quite rapidly over the next couple of years.

Big Data helps us not only determine consumer behavior, but it in turn also helps analyze market behavior, as well. Big Data helps us project which industries are growing and which are declining. With that said, many companies are still lacking Big Data sectors and thus missing out on the many uses it has. For example, from Alteryx’s infograph, we learn that four sectors, customer service, human resources, general management and strategy and business development, are restricted by their Big Data shortage. And of those four niches, customer service, strategy and business development and general management, along with marketing would significantly gain from an increase in Big Data competence.

One thing is for sure, the need for Big Data is on the rise. More and more companies are looking to reap the benefits and though we aren’t quite efficient in its use, this will soon diminish as the niche erupts over the next few years.

By Glenn Blake

About Glenn Blake

Glenn Blake is a writer for CloudTweaks and has been writing about technology trends for over 25 years.

Find out more
View All Articles

Sorry, comments are closed for this post.

Comic
Hubgets – Advanced Collaboration, Enriched Communication

Hubgets – Advanced Collaboration, Enriched Communication

Advanced Collaboration Tool Sponsored series provided in collaboration with Hubgets Collaboration tools have advanced leaps and bounds with the advent of cloud technology, and the services available are only getting better. Promising features such as sophisticated group communication, productive management of tasks and meetings, and the ultimate dream, working remotely from some gorgeous island destination, innovative collaboration…

Verizon To Acquire Yahoo For $4.83 Billion

Verizon To Acquire Yahoo For $4.83 Billion

Verizon Communications Inc (VZ.N) said it had agreed to buy Yahoo Inc’s (YHOO.O) core internet business for $4.83 billion in cash, ending a lengthy sale process for the fading Web pioneer. Buying Yahoo’s operations will boost Verizon’s AOL internet business, which it bought last year for $4.4 billion, by giving it access to Yahoo’s advertising…

When Sci-Fi Predictions Come To Fruition

When Sci-Fi Predictions Come To Fruition

Evolution of Technologies To paraphrase science fiction author Arthur C. Clark, those who make predictions about the future are either “considered conservative now and mocked later, or mocked now and proved right when they are no longer around to enjoy the acclaim.” The one thing we can be sure about, Clark ventured, is that “[the…

Facebook Hopes To Extend Internet Connectivity With Solar-Powered Drones

Facebook Hopes To Extend Internet Connectivity With Solar-Powered Drones

Facebook Inc (FB.O) said on Thursday it had completed a successful test flight of a solar-powered drone that it hopes will help it extend internet connectivity to every corner of the planet. Aquila, Facebook’s lightweight, high-altitude aircraft, flew at a few thousand feet for 96 minutes in Yuma, Arizona, Chief Executive Mark Zuckerberg wrote in…

When Will Women In Tech Become The Norm?

When Will Women In Tech Become The Norm?

Tech Diversity It is well known that the technology industry has been dominated by men, but it is also clear that the industry is working to change that. Diversity in the tech industry, especially where it applies to women in tech, has been a topic of discussion for years. Recently the Washington Technology Industry Association…

Digital Transformation: Not Just For Large Enterprises Anymore

Digital Transformation: Not Just For Large Enterprises Anymore

Digital Transformation Digital transformation is the acceleration of business activities, processes, and operational models to fully embrace the changes and opportunities of digital technologies. The concept is not new; we’ve been talking about it in one way or another for decades: paperless office, BYOD, user experience, consumerization of IT – all of these were stepping…

Connecting With Customers In The Cloud

Connecting With Customers In The Cloud

Customers in the Cloud Global enterprises in every industry are increasingly turning to cloud-based innovators like Salesforce, ServiceNow, WorkDay and Aria, to handle critical systems like billing, IT services, HCM and CRM. One need look no further than Salesforce’s and Amazon’s most recent earnings report, to see this indeed is not a passing fad, but…

Four Keys For Telecoms Competing In A Digital World

Four Keys For Telecoms Competing In A Digital World

Competing in a Digital World Telecoms, otherwise largely known as Communications Service Providers (CSPs), have traditionally made the lion’s share of their revenue from providing pipes and infrastructure. Now CSPs face increased competition, not so much from each other, but with digital service providers (DSPs) like Netflix, Google, Amazon, Facebook, and Apple, all of whom…

The Security Gap: What Is Your Core Strength?

The Security Gap: What Is Your Core Strength?

The Security Gap You’re out of your mind if you think blocking access to file sharing services is filling a security gap. You’re out of your mind if you think making people jump through hoops like Citrix and VPNs to get at content is secure. You’re out of your mind if you think putting your…

Shaking Up The Cloud Technology Marketplace

Shaking Up The Cloud Technology Marketplace

Cloud Technology Marketplace Cloud continues its devastating rearrangement of the technology marketplace. As legacy vendors struggle to compete many deck chairs are getting moved about – some pretty spectacularly. In the meantime, the boat is still sinking. We have seen how SaaS (Software as a Service) is tearing up traditional software firms who must adapt…

Infographic Introduction – Benefits of Cloud Computing

Infographic Introduction – Benefits of Cloud Computing

Benefits of Cloud Computing Based on Aberdeen Group’s Computer Intelligence Dataset, there are more than 1.6 billion permutations to choose from when it comes to cloud computing solutions. So what, on the face of it, appears to be pretty simple is actually both complex and dynamic regardless of whether you’re in the market for networking,…

The Future Of Work: What Cloud Technology Has Allowed Us To Do Better

The Future Of Work: What Cloud Technology Has Allowed Us To Do Better

What Cloud Technology Has Allowed Us to Do Better The cloud has made our working lives easier, with everything from virtually unlimited email storage to access-from-anywhere enterprise resource planning (ERP) systems. It’s no wonder the 2013 cloud computing research IDG survey revealed at least 84 percent of the companies surveyed run at least one cloud-based application.…

Disaster Recovery – A Thing Of The Past!

Disaster Recovery – A Thing Of The Past!

Disaster Recovery  Ok, ok – I understand most of you are saying disaster recovery (DR) is still a critical aspect of running any type of operations. After all – we need to secure our future operations in case of disaster. Sure – that is still the case but things are changing – fast. There are…

5 Considerations You Need To Review Before Investing In Data Analytics

5 Considerations You Need To Review Before Investing In Data Analytics

Review Before Investing In Data Analytics Big data, when handled properly, can lead to big change. Companies in a wide variety of industries are partnering with data analytics companies to increase operational efficiency and make evidence-based business decisions. From Kraft Foods using business intelligence (BI) to cut customer satisfaction analysis time in half, to a…

Big Data – Top Critical Technology Trend For The Next Five Years

Big Data – Top Critical Technology Trend For The Next Five Years

Big Data Future Today’s organizations should become more collaborative, virtual, adaptive, and agile in order to be successful in complex business world. They should be able to respond to changes and market needs. Many organizations found that the valuable data they possess and how they use it can make them different than others. In fact,…

Cloud Infographic: The Explosive Growth Of The Cloud

Cloud Infographic: The Explosive Growth Of The Cloud

The Explosive Growth Of The Cloud We’ve been covering cloud computing extensively over the past number of years on CloudTweaks and have truly enjoyed watching the adoption and growth of it. Many novices are still trying to wrap their mind around what the cloud it is and what it does, while others such as thought…