News Feature: SMEs Ignoring Big Data, report finds
The vast majority of SMEs in the UK see no value in Big Data, a report has found.
Findings from a Government study found that less than one per-cent of small businesses use big data, with a fifth admitting they have a poor understanding around the potential of analytics.
Research found that demand for Big Data was dramatically different between larger organisations and smaller companies — leaving a potential skills gap for SMEs.
The report discovered that big corporations were already employing skilled Big Data personnel, but the majority of recruiters were struggling to recruit the right people.
Figures estimate there were around 233,000 in Big Data positions, but that figure is set to increase by 177% by 2017.
Lord Stephen Green, Minister of State for Trade and Investment, said more must be done to fill the Big Data skills gap.
‘The UK now has the opportunity to take a lead in the global efforts to deal with the volume, velocity and variety of data created each day,’ he said.
‘To do this we need to ensure the government, academia and businesses work together to further develop the skills available to us today and actively support programmes that nurture development in the next generation.’
With such demand for skilled Big Data Analytics, SMEs risk being left behind in recruiting skilled data interpreters and processors, the report added.
Philip Treleaven, Professor of Computer Science at University College London, said business analytics has the potential to boost the UK economy.
He said there was a ‘real need’ to focus on Big Data at an academic level and for SMEs to use skilled graduates to ‘explore just how they can turn insight from their data into business innovation’.