Data analytics a vital resource for businesses, ICT insiders say

AMMAN — Using data analytics helps entrepreneurs and businesses come up with new business ideas and opportunities, since data growth has been increasing exponentially over the past few years, ICT experts said on Tuesday.

More than 90 per cent of data at present across the globe was created over the past two years, Bashar Kilani, territory executive at IBM Middle East, said at a panel discussion during the Entrepreneur of the Year Forum held by Entrepreneur of the Year (EY) Jordan.

“Data analytics helps generate many business ideas,” he said at the event.

Kilani added that more than 80 per cent of the data created since 2014 is unstructured. It includes Facebook updates, tweets, videos, and posts on other social networking channels.

“Data is the new natural resource for the coming century,” the executive said, adding that 65 per cent of the professions that will be available in 2025 do not exist today, as data growth and new technologies will create to new professions.

Experts during the panel stressed that data analytics creates opportunities for start-ups and entrepreneurs in the region.

The forum, held under the title “Thriving in the Digital Age”, attracted speakers from across the private and public sectors

The forum was attended by executives, entrepreneurs, influential industry leaders and government officials, who exchanged insights on the risks and opportunities created by the shift towards digitisation. 

Discussions during the forum covered the power that 3D technology, wireless charging and the Internet of Things have on transforming all industries, and the role of government in providing an enabling business environment for entrepreneurs.

“Bringing together Jordan’s brightest entrepreneurs, thinkers and business leaders at the first Entrepreneur of the Year Forum has allowed us to explore the concept of digital disruption, its emerging technologies and their transformative impact on the local business landscape,” said Waddah Barkawi, partner at EY Jordan and Entrepreneur of the Year Award country leader for Jordan.