The use of big data applications and services in Australian organsiations with more than 20 employees has passed 25 per cent and is forecast to reach 65 per cent by 2018, according to new findings from emerging technology research firm Telsyte.
Telsyte expect this threefold increase in update to be driven by a number of factors including more customer interactions occurring through digital channels, a move from “reactive” to “proactive”, or “predictive”, business intelligence and analytics, and better use of available real-time data from existing IT and device infrastructure.
Big data involves processing and analysing large amounts of high-volume data to extract trends of social or business value. In order to extract business value, a range of new data management and analytics tools are being developed to cope with the increased volume of data. Big data is not a new, or special concept, but many new tools and procedures are being developed for managing big data.
The Telsyte Australian Big Data and Analytics Study 2014 reveals Australian CIOs’ intention to adopt big data, and the applications suited to the organisations.
Telsyte Senior Analyst Rodney Gedda says there is a massive growth opportunity for big data software and systems vendors and cloud and on-premises service providers once organisations have identified a business case.
“Increasing data volumes are being driven by emerging technology including smarter mobile devices, the Internet of things, online e-commerce, and retail POS activity,” Gedda says.
“CIOs have stated the perceived cost of big data software and solutions is the biggest barrier to adoption so the market is primed for low up-front cost options such as those offered by cloud providers and pay-per use options. This can help identify a return on big data investments.”
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