Big Data Conference returns to GITEX
Global big data market set to jump almost fivefold by 2020, say industry thought-leaders
With the global big data market set to jump almost fivefold by 2020, a panel of international experts and industry thought-leaders speaking at the second annual Big Data Conference at GITEX TECHNOLOGY WEEK 2014, have urged regional organisations to drive innovation now, to deliver immediate and long-term business benefits.
As social media, analytics, mobile devices and research and development drive a deluge of increasingly complex data across key vertical industry sectors, the global big data market is anticipated to soar from $3.2 billion last year to $15.1 billion by 2020, according to Frost & Sullivan. The GCC is due to take a bigger market share, with regional spending leaping from $135.7 million in 2013 to $635.5 million by 2020.
The Big Data Conference, held yesterday under the theme "From Data to Smart Direction", featured speakers including Simon Torrence, Member, Big Data Programme, World Economic Forum; Dr. Nikolaos Mavridis, Massachusetts Institute of Technology (MIT); and Nick Millman, Managing Director, Accenture.
"It is important to plan a strategy and take tangible initial steps to generate value. Implementing big data doesn't always require a big investment or a big implementation,” Millman told delegates. “The important thing is to start with an overall roadmap in mind because if you don't start down the big data path now you risk being a follower rather than being a leader. This will impact your organisation's competitiveness and ability to thrive in the future."
Trixie LohMirmand, Senior Vice President, Exhibitions & Events Management, Dubai World Trade Centre, organiser of GITEX Technology Week, added: "The aim of the Big Data Conference is to bring together senior industry thought-leaders to help drive innovation and development across the region. Key industry verticals including oil and gas, hospitality, education, healthcare, telecommunications, retail, government and banking and finance will benefit from strategies and insights delivered today."
Key focuses at the conference included empowering citizens using big data; driving predictive analysis for businesses; hunting professionals with the right big data skills; and enhancing ROI for businesses. Huawei, a global ICT solutions provider and Diamond Sponsor of the Big Data Conference, has announced a strategic partnership memorandum with global technology provider Intel on Big Data research and technology. Accenture and SAP are Platinum Sponsors of the Big Data Conference.