Big uptick in big data expected down under
More than a quarter of Australian companies* are already using big data applications and services and that figure is forecast to rise to 65 per cent by 2018, according to new research by Telsyte called the Australian Big Data and Analytics Study 2014.
The researchers expect the threefold increase be driven by several 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.
According to Telsyte Senior Analyst Rodney Gedda 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.
(Image: Telsyte’s Rodney Gedda)
“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.”
The study reveals that most big data storage is done on-premises at the moment, however, a third of those surveyed said they intend moving to the cloud within the next 12 months.
There are some impediments to adoption of big data however, including IT infrastructure requirements, integration with data sources and lack of a business case.
Early use cases
Telsyte has identified the fastest growth areas for big data applications as telemetry network monitoring and customer behavior measurement. According to the research, more than 40 per cent of organisations using big data are using it for IT network monitoring and management, business intelligence and sales and marketing applications.
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.
*Study covers companies with more than 20 employees.