DWTC to highlight big data at GITEX

Event organiser to host first ever Big Data Conference on October 22

Tags: Dubai World Trade CentreUnited Arab Emirates
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DWTC to highlight big data at GITEX DWTC is hosting the big data summit in response to industry figures indicating an increase in interest in the practice.
By  ITP.net Staff Writer Published  September 29, 2013

The Dubai World Trade Centre (DWTC), organiser of GITEX TECHNOLOGY WEEK 2013, today announced it will host its first ever Big Data Conference on October 22, during the technology conference itself.

DWTC said the move was in response to industry figures that show a ramp up within regional business strategies of attention to analytics and business intelligence.

The transition from a buzzword to a mainstream concern is forcing business leaders to quickly adapt, with social interactions, mobile devices, facilities, equipment, R&D, simulations, and physical infrastructure all contributing to a profitable growth of big data, DWTC argued.

According to IT-focused market intelligence firm IDC, over 40% of CIOs in the Middle East have reported that they are scoping investments in analytics and big data technologies in 2013. This represents a significant spike in interest. At a recent IDC summit of the Middle East region's CIOs, just 12% claimed to have implemented analytics/big data technology projects in 2012.

IDC also found that 58% of CIOs believe governance, regulation, compliance requirements and reporting, as well as a need for greater transparency, are forcing investments in big data and analytics technologies. As a result of this growing awareness, IDC says investments in business analytics solutions across the region are expected to increase at a compound annual growth rate (CAGR) of more than 20% over the next five years.

Worldwide, IDC estimates that spending on big data technology and services will likely grow from $3.2bn in 2010 to $16.9bn in 2015, representing a CAGR of 40%, or about seven times that of the overall ICT market.

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