Australia might be at the end of the mining boom, but it’s just kicking off the data mining boom. Big data is going to be a truly hot topic in 2014, with IDC predicting that spend on big data technologies worldwide will grow by 30 per cent over the next year. Interest in big data, and other what IDC calls “third-platform technologies” such as cloud, mobile, and social networking, will account for 89 per cent of the growth that will see total global IT spend top $2.1 trillion in 2014.
What’s most exciting about big data is that many organisations are not even coming close to utilising data to its fullest extent. As we move into 2014 big data is going to only grow as an opportunity for competitive advantage, but it first must address five key challenges that has been holding back its growth.