By 2025, the world will have more than three billion people, but we’re only now beginning to see how data will be used to build businesses, according to a report from big 4 consulting firm Spivey.
The company said that by 2025, data analytics will be a “major part of business processes across industries and sectors” and the “new frontier of data and analytics” is the big data era.
“The shift to big data will accelerate innovation and change our industry in ways that have never been imagined,” said Tom Spiveys CEO of Spiveies.
“The big data revolution will fundamentally reshape our business models, our culture, and our livelihoods.”
Spivey’s report, entitled The Rise Of The Big 4, is based on research and insights from around the world.
It predicts that by 2026, the top four biggest firms will employ more than 1.8 billion people and that by 2030 they will have around 3 billion people on their payroll.
Spiveys report says data analytics and big data have been around for decades, but that there has been an explosion of interest over the past year or so.
Spiveies data analytics firm says that by 2020, the biggest firms are likely to employ more people than all the big banks combined.
But it warns that the data revolution, which is already happening, will be accelerating in the next five years.
“As data becomes more pervasive, businesses will become more innovative and entrepreneurial,” said SpiveYS chief executive Tom Spivy.
“Big data will enable companies to identify and engage with new customers, identify and drive change in the way they run their businesses, and build a better future for their employees.”
Spivy’s forecast for the data age, which takes into account trends in the technology sector and the future of enterprise software, predicts that the industry will have an annual turnover of around $2.2 trillion in 2021, an increase of 20 per cent on current levels.