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Big Data Transforms the Business World

The subject of this month's press review is Big Data in Germany. We will take a look at the influence the influx of data has, how best to cope with it and what the current trends are. 

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.

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Peter Gissmann      9. September 2016

Author

Peter Gissmann

Peter Gissmann

Peter Gissmann is the founder and Managing Partner of ALMATO.

After finishing his economy studies, he worked for the Nixdorf Computer AG and the Siemens Nixdorf Informationsystem AG- As Sales Manager for the DACH region for TCS Management Ltds. he was one of the pioneers of Workforce Management Solutions in german-speaking countries. Afterwards he became Sales Director and successfully led the expansion if the DACH sales team for InVision Software AG. In 2002 he founded ALMATO to offer high quality software for Quality Monitoring, Robotic Process Automation and Workforce Optimization.

In his free time, he plays basketball. With his team, he regularly participates in the German Senior Championships.