EMC Corporation (NYSE:EMC) “Big Data” plans in Dublin
Last week, EMC Corporation (NYSE:EMC) had jointly organized a summit with EnterpriseIreland in Dublin, Ireland. The company held presentations on how Big Data can help SME’s to scale as well as create new jobs. The presentation focused on Big Data expansion potential in the enterprise sector. EMC had sponsored a study conducted by IDC in 2012 which concluded that between now and the year 2020, there will be a doubling in the digital universe, every two years. There are several reasons for this, such as how people are now creating huge un-structured digital shadows while using social networks on their computers and mobile devices.
On another plane, machines such as smart meters, surveillance cameras and x-ray equipment are always generating massive volumes of data. Using this information in an effective manner will be largely driven by the expanding portfolio of Big Data analytics expertise and tools. This will enable businesses to convert their data into numerous sources of incremental-revenue.
Whats the big deal about Big Data?
Big Data is increasingly becoming a very important boardroom priority. What’s even more notable is that it is relevant to almost every sector of the economy – from retail to healthcare, law enforcement to banking. In conjunction with cloud computing, which cuts operating costs for organizations, Big Data is at the core of the global IT phenomenon. Companies finally have the technological tools to navigate hurdles of complexity and cost and translate data into revenue.
The data explosion
The amount of data that is now being generated in the world is literally exploding, and analyzing Big Data will be the foundation of competition. It will underpin new waves of innovation, productivity growth and consumer surplus. It’s not just a handful of data-oriented mangers that will be grappling with the implications of Big Data, but industry leaders will be doing the same. The increasing detail and volume of information that is being captured by enterprises, the growth in social and multimedia, as well as the Internet of Things will propel exponential data-growth in the foreseeable future.
Thus having access to data is and will be increasingly critical. Companies will need to integrate different information from various data sources, generally from third parties. Enabling this is about positioning the incentives appropriately, which is exactly what EMC Corporation (NYSE:EMC) is doing.