For those who have known data to be in megabytes only, the zettabyte is here. According to a recent report published by storage company EMC, the world will have generated 44 zettabytes (4.4 trillion gigabytes) of data. The figure is 10 times the cumulative amount of data for the whole of last year. And according to the Scandinavian research group Sintef, nearly 90 percent of this data has been created over the last two years.
The huge growth in data volumes has been spawned by the constant uploading of data over the internet. Users are regularly uploading their personal images to online platforms like Facebook, Twitter, and Flickr etc. Couple this with the increasing usage of Cloud services for computing, by leading businesses and you get a sense that the increasing growth is quite justified and perhaps set to continue.
The Growing Role of Analysts
As a result of the boom in data rates and volumes, the requirement for analysis is also growing. Be it analysts, architects who design after the analysis or domain experts who assist with analytics, the market is growing.
Singapore has emerged as one of the leaders in data analytics. Strong IT infrastructure and an environment that ensures the responsible handling of data, has given Singapore the edge. Since 2011 over 30 different organizations have set up their analytical centres here, including bulk companies like Accenture and IBM. Smaller startups have joined in as well. As a result the pool of talent has been growing and the estimated rise to $1 billion of the analytics industry by 2017 is proof of the rapidly increasing requirements.
It is only understandable then that research intro analytic is being promoted and various organizations are coming forward to join hands with the new force in global IT.