The vast majority of global corporates have identified Ireland as a possible or likely location for data-driven investment in the next year, new research has found.
According to Europe for Big Data, a report produced by William Fry alongside Forbes Insights, 61pc of global companies will look to invest substantially into data over the next year and a half with 96pc of them viewing Ireland as a favourable location.
Data isn’t restricted to tech companies either with 73pc of non-tech firms making extensive use of it.
Physical facilities will be the main driver of investment over the next 18 months with Ireland’s climate being rate by most as good to excellent.
The report, which is based on a survey of 200 C-Suite executives across the world, Ireland came in second for predicted future spend in the area, behind the UK but in from of Germany.
William Fry technology head David Cullen said there is a real opportunity for Ireland to exploit big data.
“The finding that 75pc of survey participants believe physical facilities are the future of data driven investment in Europe is significant when one considers that 96pc view Ireland as a favourable investment location and that 60% of the organisations surveyed have annual sales of between $1bn and $10bn,” he said.
Two of the top five issues when choosing a location for international firms were legal framework and data-related conditions and regulations.
The survey demonstrates that international organisations are placing much greater focus on being able to rely on clear and harmonised data privacy and data security regulations even if this raises operating costs.
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