More than 25 percent of Australian organisations with more than 20 employees are already using big data applications and services and that figure will be 65 percent by 2018, according to technology research firm Telsyte.
Big data (more correctly data analytics) involves processing and analysing large amounts of high-volume data to extract trends of social or business value.
Telsyte expect this threefold increase in uptake 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.
According to Telsyte, more than 40 percent of organisations using big data are using it for IT network monitoring and management, business intelligence and sales and marketing applications. It says the fastest growth areas for big data applications will be telemetry, network monitoring and customer behaviour measurement.
According to Telsyte, 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 a special concept, but many new tools and procedures are being developed for managing big data,” it said.
Telsyte senior analyst, Rodney Gedda, says there is a massive 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 said.
Cloud cuts cost of big data
“CIOs have stated that 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.”
Telsyte says that, currently, most big data storage is done on-premises but some 30 percent of organisations intend to move this to the cloud within the next 12 months indicating a growing appetite and comfort with moving big data to the cloud.
It lists other factors that are holding back big data adoption as being IT infrastructure requirements, integration with data sources and lack of a business case.