One in ten businesses in the EU analyses big data
Around three-quarters of EU businesses have a website and half of them use social media, but just about one in ten analyses big data – digital imprints generated by governments and public institutions, businesses, associations and individuals.
Only 10% of businesses located in the European Union which employed at least 10 people last year reported having analysed big data, according to Eurostat numbers. This in the context of the exponential growth of digital data created, stored and processed in the world in the recent years.
Of those who did analyse big data, the most popular sources of analysis were the geolocation data of portable devices, used by 47% of the businesses, and data generated from social media (45%). A third (33%) reported analysing their own big data obtained from smart devices and sensors, and a quarter (25%) used ‘other sources’.
Among the EU Member States for which data are available, the analysis of big data was used by 15% or more of businesses in Malta and the Netherlands (both 19%), Belgium (17%), Finland and the United Kingdom (both 15%). On the other hand, 6% of businesses analysed big data in both Germany and Poland and only 3% in Cyprus.
Big data is a term for datasets that are so large or complex that traditional data processing application software is inadequate to deal with them. The term “big data” often refers simply to the use of predictive analytics, user behaviour analytics, or certain other advanced data analytics methods that extract value from data, and seldom to a particular size of data set.
Analysis of data sets can find new correlations to “spot business trends, prevent diseases, combat crime and so on.”