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UK organizations struggling to prepare for imminent 'data age'

(Image credit: Image Credit: Billion Photos / Shutterstock)

Most global businesses agree that data (opens in new tab) is an extremely valuable resource that plays an important role in facilitating ongoing success. However, the amount of data generated is going to “explode” within half a century and businesses are not sufficiently prepared.

This is according to a new report from big data analytics firm Splunk, based on a poll of 2,200 global business and IT managers from across the globe.

The report states that two thirds (67 percent) of businesses expect the volume of data to grow almost five times by 2025, while more than half (57 percent) fear the volume of data is growing too fast for them to keep up.

Internet of Things (IoT) devices, the proliferation of 5G and the mass adoption of AR/VR technologies are considered the main drivers of data growth. Consequently, half of businesses are developing 5G and AR/VR use cases, with four in ten (39 percent) working on AI applications.

“The Data Age is here. We can now quantify how data is taking center stage in industries around the world. As this new research demonstrates, organizations understand the value of data, but are overwhelmed by the task of adjusting to the many opportunities and threats this new reality presents,” said Doug Merritt, President and CEO at Splunk.

“There are boundless opportunities for organizations willing to quickly learn and adapt, embrace new technologies and harness the power of data.”

To succeed in the "Data Age (opens in new tab)", businesses need a holistic view of their information and real-time insights that allow them to act swiftly when necessary, the report states.

Sead Fadilpašić
Sead Fadilpašić

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.