DWTC to highlight big data at GITEX
Event organiser to host first ever Big Data Conference on October 22
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.
From a global perspective, IDC reports that the digital universe will have grown by a factor of 300 between 2005 and 2020. This equates to an increase from 130 exabytes to 40,000 exabytes, or 5,200 gigabytes for every human being. From now until 2020, the amount of data stored around the world will almost double every two years. The share of the digital universe held by emerging markets, including the Middle East, is currently on course to grow from 36% to 62% between 2012 and 2020.
IDC reports that only a fraction of the digital universe has been explored, but by 2020 as much as 33% could contain valuable information if analysed. Accordingly, the Harvard Business Review recently proclaimed the role of data scientist as one of the 21st century's most lucrative jobs.
Part of GITEX TECHNOLOGY WEEK's GITEX Trends segment, the Big Data Conference is structured to help CIOs cope with the unending data deluge, arm their organisations with the wherewithal to mine it for strategic advantage and, crucially, alchemise what is ostensibly a big problem into a big business opportunity.
Key big data talking points include how CIOs and businesses are adapting; how to develop a winning strategy; ways to secure competitive advantage; how to gain insight from data; and pressing security and compliance issues.
"Businesses and organisations that are not harnessing big data to reinvent the way they operate will clearly miss out on both innovation and profit," said Trixie Loh, senior vice president, Dubai World Trade Centre.
"[The] Big Data Conference is a concise, extremely powerful examination of latest developments and challenges. Featuring leading experts, analysts and businesses, this is our most focused look yet at how big data is making waves, and we look forward to an action-packed day of lively debate, illuminating insight and constructive troubleshooting."
Running under the theme, "Let's Create, Disrupt and Re-imagine Together", the 33rd edition of GITEX TECHNOLOGY WEEK 2013 runs from October 20-24 at DWTC.