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This research is the first ever study of the economic impact of big data in the Irish economy. It provides an independent assessment of the role that recent advances in data-intensive sectors can play in supporting jobs and growth over the next five years.
The current difficult economic conditions provide a further impetus for businesses to streamline their operations and seek cost reductions through innovation.
Recent trends in ICT have seen exploding data volumes, along with ever cheaper costs associated with accumulating and storing it. These developments have given rise to many businesses ‘warehousing’ huge quantities of data, without necessarily forming strategies to leverage value from them.
As analytics technology develops and platforms capable of processing big data become more economical, increasing numbers of firms will find it viable to reap useable insights from their hoarded data, and this will assist new business creation.
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