It seems like everyone has been talking about Big Data for years. However, according to some experts, 2017 will be the year it will gain even more importance and probably reach its breakthrough.
Previously, only relevant in the production industry, Big Data has become relevant in almost every field as a driving force for digital transformation. This leads to a change in business models and processes. The previous years have been mostly about collecting data whereas now it's time for analyzing them.
The Bitkom association expects more than 25.000 new jobs in software development and IT services. This is a result of the growing importance of Big Data. But why is it that many companies are still struggling with the sheer mass of data?
Although 69 percent of German enterprises think that Big Data is crucial for their added value and priority is placed to this topic, only very few of them are adapting to this development.
In fact, only one third of german enterprises is using Big Data. This is because most of them are not ready to do it yet. This is a result of legal and safety concerns, a lack of know-how and required ressources.
Europe is lagging behind in this area compared to the USA. It needs to make sure not to lose touch and to catch up again. In the context of a predicted increase of the existing amount of data up to 44 Zettabytes until 2020 and the ongoing digitalization, Big Data is more and more defining the value of a company.
The importance of analyzing data has even led to the creation of a new job - the Data Scientist. His tasks are to view and analyze data and in the following come up with recommendations for actions. He needs to be qualified in programming, mathematics and statistics. In addition, the job requires a general understanding of economic principles.
Big Data will play an even more important role for businesses in the future and it is important not to lag behind. Key is a thought-through data strategy and the right software.
Interaction Analytics is a solution that helps companies better analyze big data in customer service.