The GCC big data market is set to grow nearly five-fold from $135.7 million in 2013 to $635.5 million by 2020, according to research firm Frost and Sullivan.

The global big data market is expected to grow from $3.2 billion in 2013 to $15.1 billion by 2020, it said.

Big data is gathered from a number of sources, such as social networks, photos, user behaviour, feedbacks, business sources, media streams, and more – all of which are and will continue to grow rapidly. The ability to analyse big data to understand customer behaviour is an extremely useful tool from a sales perspective.

Ayoub Kazim, managing director of Tecom Investments Education Cluster, highlighted the role that big data could play in enhancing online education services at SP Jain School of Management’s recent event – ‘Big Data - a Boon or a Bane for Customer Centricity?’

The conference, conducted in exclusive partnership with Microsoft, featured expert speakers from international organisations including Microsoft, Landmark Group, Cheil Worldwide, SAP, Ford Motor Corporation, Cognizant Technology Solutions, Emirates NBD and Etisalat, together representing the Healthcare, Retail, Transportation and Logistics, Banking and Financial Services Industry, Hospitality, Telecom, and Automobile sectors.

Kazim said: “From an academic perspective, education is definitely a sector that can benefit from big data. As online learning continues to grow in popularity, largely due to its accessibility and flexible nature, the possibility of capturing online learning habits in order to adapt methods of digital teaching to enhance the overall experience of a student is an exciting prospect.

“I think it is common knowledge in this day and age that a one-size-fits-all method doesn’t always work. Individual minds function in very different ways, and respond diversely to various learning methods. And it is this approach that can be applied in a similar way to customers. Being able to capture this big data enables provides to truly understand what their customer wants.”

Professor Christopher Abraham, head of Dubai Campus and senior vice president, Institutional Development, S P Jain School of Global Management - Dubai, Singapore, Sydney, said: “Big data is one of the most revolutionary concepts in contemporary business and S P Jain is proud to host a such as significant event pertaining to big data. The event will prove to be of immense benefit to business professionals and organisations in the region.” – TradeArabia News Service