The UK’s leading tech companies are beginning to build data processing and analytics into all of their departments, processes and technologies, so data and analytics drive not just business decisions but also the core operations of the business itself.
According to new research from 451 Group and Digital Realty, the move is enabling firms to unlock additional benefits from their data and secure increased financial rewards.
The study claims that UK businesses currently miss out on £52 billion each year because of under-investment and weaknesses in data infrastructure, strategy and analytics skills.
But leading tech companies are now investing to close that gap through big data technologies, which will ultimately help them to achieve what 451 Group has dubbed “pervasive intelligence” – the infusion of human and artificial intelligence into applications, services, workflows, systems, devices and computing systems infrastructure to deliver and democratise data-driven decision-making.
By investing now in the smart technologies that will pervade their businesses and deliver previously unattainable levels of performance and efficiency, UK businesses will start to close the gap on the unrealised value from their data, the study claims.
In the UK, 46% of high-bandwidth companies have already adopted big data technologies, with 21% having evaluated the technology and 27% planning to adopt new big data initiatives in the near future.
If they continue to invest and the UK’s wider business community follows their lead, the UK’s data economy could be worth £101.6 billion by 2025 the report’s authors insist.
“Pervasive intelligence may seem tough to achieve for some businesses,” says Rob Coupland, managing director EMEA of Digital Realty. “But the first steps can be as simple as investing in new, smart technologies and making sure every area of operation has simple, instant access to those technologies.
“We are seeing that, for many more companies, data has become, or is becoming, the ultimate asset, and new approaches and infrastructure are needed to realise its value. Pervasive intelligence is best practice data handling and it’s something that any business can benefit from.”