Spending on big data technology and services is likely to hit $16.9 billion by 2015, said an estimate from market intelligence firm IDC.

Big Data is rapidly moving from an abstract concept to become the core of business strategies across the Middle East, top IT leaders and industry experts agree, it said.

Over 40 per cent of CIOs in the region have reported that they are scoping investments in analytics and big data technologies in 2013. This represents a significant spike in interest, said the firm.

IDC also found that 58 per cent of CIOs believe that governance, regulation, compliance requirements and reporting, besides a need for greater transparency, are forcing investments in big data and analytics technologies.

As part of the Gitex Technology Week 2013, the Dubai World Trade Centre is debuting its first Big Data Conference on October 22.
 
The conference is structured to help CIOs cope with the data deluge, arm their organisations with the wherewithal to mine it for strategic advantage and, crucially, alchemise what is a big problem into a big business opportunity, said a statement.

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, besides pressing security and compliance issues.

Massimo Cannizzo, technology consulting lead for Accenture in the Middle East, a sponsor for the event, said: “Big data is now critical to transforming businesses in the future. Companies that don’t incorporate it into their IT strategy risk being left behind in growing their business, lacking deeper market insight already leveraged by competitors, and in this growing market this is not an option.” - TradeArabia News Service