But it is in big industry where big data could have the most impact, revolutionizing the way we work and enabling the Internet of Things, which allows for real-time data exchange between objects, machines, and production plants. To drive uptake, developers are creating IoT platforms that allow companies to design their own applications.
Last year, one in three industrial companies invested between five and ten percent of annual revenue in IoT apps. Worldwide spending on IoT is estimated to reach some €650bn this year; and by 2025, McKinsey say, IoT tech will add as much as €3tn in value to networked factories.
Germany is a global nodal point for research for big data, especially in the critical areas of security and IoT, with facilities such as the Karlsruhe Institute of Technology and the Fraunhofer Big Data and Artificial Intelligence Alliance drawing worldwide acclaim.