Big Data and Irish Businesses

Data aggregation is still a struggle for Irish businesses as they have to learn to run on data, which exposes them to vulnerabilities like inaccurate, manipulated and biased data that leads to bad business insights and skewed decisions.

85% of Irish businesses report that organisations are basing their most critical systems and strategies on data, but many have not invested in the capabilities to verify the truth within it.

This becomes increasingly fraught with difficulties as 45% of Irish companies indicate they are working with at least twice as many partners than they were two years ago. That’s twice as much data being shared, and if unchecked, at least twice the amount of mistakes being made.

Data Aggregation Servers in a Server Farm. (Photo: Mint Images)

Innovations like virtual and augmented reality technologies are transforming the ways people live and work by removing the distance to people, information and experiences. 83% of Irish businesses believe it will be important or very important to use Extended Reality (XR) solutions to close the gap of physical distance when engaging with employees and customers, but only 14% state it is very important for their organisations to be a pioneer in XR solutions. This displays a somewhat risk-averse but open minded behavior, that could allow the next big innovation to XR to take hold in an anticipatory market.