"Big Data: New Approaches" сonference

On September 27, the annual conference Big Data: New Approaches was held in Moscow.

Major companies of the world, including Russian enterprises, face the risk of losing the battle against their competitors for effective use of big data. The corporate information volume keeps growing and will amount to 44 zettabytes of data (44 trillion gigabytes) by 2020, according to Gartner. Accordingly, the rapidly developing market of big-data technologies is growing. Wikibon forecasts that its size will grow to USD 60 billion by 2020, with analysts reporting a slowdown in growth rates from 40% to 26%.

According to the Information Generation study conducted by EMC and the Institute for the Future, 52% of companies from different countries and industries do not use the accumulated data in full or even "are drowning" in the amount of information. Numerous respondents admit that they do not correspond to the new realities of the society and business digitalisation completely yet. Only 12% are able to predict new market opportunities, as many work efficiently in real time at all levels of the company.

"The world is undergoing a digital transformation. In the upcoming 5 to 10 years, it will become a criterion for distinguishing leaders from losers", believes Robert Farish, IDC Vice President and Regional Director in Russia and CIS countries. "Unfortunately, many companies have already lost the time to start digital transformation."