GICT Big Data / Business Analytics Certification Courses
There is a strong demand in Business Analytics & Big Data worldwide, especially in the growing Singapore market. According to a report by IDC, in 2012, the worldwide business analytics software market grew 8.7% to reach $34.9 billion. The market is now forecast to grow at a 9.7% compound annual growth rate (CAGR) through 2017. Similarly, the Big Data technology and services market represents a fast-growing multibillion-dollar worldwide opportunity and is expanding rapidly. A recent forecast by the International Data Corporation (IDC) shows that the Big Data technology and services market will grow at a 27% compound annual growth rate (CAGR) to $32.4 billion through 2017 – or at about six times the growth rate of the overall information and communication technology (ICT) market.
In addition to Business Analytics Certification Program, a recent study by Transparency Market Research found that the worldwide big data market will achieve a 40.5 percent compound annual growth rate (CAGR) from 2012 to 2018, increasing from $6.3 billion to $48.3 billion in the process.
North America is projected to dominate the sector, accounting for more than half of all spending on big data, while Europe is expected to rank second. The Asia-Pacific region will likely grow the fastest with a 42.6 percent CAGR during that time period. There will be a growing demand for expertise in Big Data in the APAC region.
What is Business Analytics?
Business Analytics (BA) is a study of statistical and operational information given out / produced by any organization or a business. Business Analytics requires quantitative methods and evidence-based data for business modeling and decision making. For example such data could be from a sales department cross checked with marketing department and production department in a given company. Once the analysis is complete, the conclusion / the solution / the prediction will be modeled back into business operations to maximize the output. Hence the term ‘data driven’ organizations / businesses emerge
Importance of Business Analytics?
In this modern business world, a company’s sales figures, performance and achievements alone will not help steer a business forward. Predictions / solutions / conclusions about the direction of the business must reach you beforehand to take necessary action. In order to study the large volume of business data, a.k.a Big Data, we require mastering Business Analytics.
What is Big Data?
Big Data is the study of large volumes of business data in a company collected on a day to day process. The information presented may be unstructured and meaningless until a proper business analysis model is implemented. Once it is established, we can conduct data mining (explore data to find new patterns and relationships) or complete statistical analysis and quantitative analysis to explain why certain results occur.