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Often considered a buzzword, big data can be described as the vast volume of structured and unstructured data which floods business daily. However, it is not the size of the data collection that counts, but rather what you choose to do with it that counts.
Businesses are, for a large part, uninformed and risk averse towards securing IoT. Enterprise, industrial and commercial IoT is a sticking point for business, particularly in South Africa, where boards of directors and senior executives are not yet knowledgeable about the benefits. This causes them to be exceptionally averse to risk, but this is changing as younger and more informed ‘tech-savvy’ executives are being appointed to boards.
As most global markets experience growth, South Africa remains in an economic quagmire. Due to credit rating downgrades, a volatile currency, and lower contributions to GDP from the country's major economic spinners – the agriculture, manufacturing, and mining sectors – the country is experiencing stubbornly high unemployment and anaemic economic growth.
A Gartner study poses that, “By 2019, IT service desks utilising machine learning enhanced technologies will free up to 30% of support capacity.” In addition the features, that machine learning introduce, will also add a tier of intelligent automation to traditional IT service desks. This will aid decision-making, enhancing staff productivity and opening up a level of smarter self-service for the end user.
When Tim Berners-Lee declared data to be the “new raw material of the 21st century” back in 2011, he was perfectly describing the direction many economies were heading in - from industry to insights and intelligence. But in the six years since, data has defied the economic principles that many commodities adhere to: unlike other raw materials, the more plentiful the data the more valuable it becomes. It is coveted like precious metals and valued accordingly for its power to drive the insights that help transform businesses.