In a world where the amount of data being generated is growing rapidly, data analytics can be used to examine and interrogate a range of data compiled by a company. It can create valuable insights and information that lead to better strategic business decisions.
Earlier this year, a new UK Digital Catapult Centre was announced for Northern Ireland to help businesses in developing breakthroughs for the UK’s data sharing movement. The centre will help to showcase Northern Ireland’s world class capability in areas such as advanced sensors, predictive analytics and cyber security, and will also provide a platform for local digital companies to engage with large companies across all sectors.
Various organisations in Northern Ireland have used big data to generate efficiencies, new sales and a wider customer base for their organisation. Invest NI is helping small local food producers who supply Tesco with a package of support to use Tesco Clubcard data, and to build their capacity to interpret and apply shopper data for improved market planning and the creation of new products.
Simon Cole, Automated Intelligence, talks about how his business helps companies get more value out of the information they hold and provide a sense of control for their client’s big data.
The key to using big data is having the necessary data, skills and tools to interrogate this data.
Invest NI can offer expert, impartial advice, as well as consultancy and R&D support, to help you to partner with companies to manage your data and analytics.
We’ve a range of financial support to help you create new products, processes and services, check out funding for Innovation and R&D where you can apply for up to £50,000 of support to help you to investigate or plan your big data idea, develop, build and test a prototype, refine your design and also handle intellectual property.
Our next Innovation Voucher call will go live from Monday 13 June 2016.
An Invest NI Innovation Voucher offers you £5,000 to ‘purchase’ specialist knowledge from one of 39 respected universities, colleges and research organisations throughout Northern Ireland and the Republic of Ireland to help you expand, improve or create new products, services and processes using the data sets you have available.
Invest NI can provide funding towards the costs of working with a consultant to help companies embrace big data and start to apply it within their own company activities.
In addition, support can also be gained from the new Department for the Economy through its Assured Skills program, where it is seeking to raise the numbers of individuals working within the analytical sector through the delivery of a range of new training programs. Past users have included the likes of PwC, Deloitte and EY.
The Knowledge Transfer Partnership, (KTP) Scheme, is also led by Innovate UK and funded by fifteen government organisations including Invest NI. It is a three-way partnership between a business, an academic institution such as a university or college and a qualified graduate delivering a project lasting about two years. These collaborations can improve your company's competitiveness, productivity and profitability, and locally Hughes Insurance has used this to great effect.
We can help you understand where big data could be applied within your business and we can also signpost you to a wealth of information so do not hesitate to contact us for an informal chat.
Hear how we supported Analytics Engines from start-up stage through to providing expertise to pair the company with specific European partners.