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Industry Pulse DATABANK Potential and Challenges of Big Data Vast quantities of data are generated each day by sensors, video cameras, smart meters and other connected devices, adding to the huge store of information from traditional sources. Tis data avalanche represents a potential gold mine of insights, but a recent study commissioned by Cisco reveals that IT professionals and businesses across the globe are challenged to extract strategic value from their data. SOURCES OF BIG DATA BIG DATA HAS CHALLENGES 74% current data 55% historical data 48% data from monitors and sensors 40% real-time data that is used and then discarded 32% unstructured data, such as video 10% 13% 6% 14% 27% 14% 16% 27% - Data security and risk Where is the data deluge coming from? Many types of information are collected and/ or used today, including both structured and unstructured data. Nearly three-quarters of responding companies are gathering current data. At 56%, China is well above the global average for gathering unstructured data. SECURITY CIRCUIT SECURITYS S SECURITYSTATS SECURITYSTATS Did You Know? The Electronic Security Technology Summit will be held Oct 16-18 in Miami Beach, Fla. Sept. 24-27: 59th Annual ASIS Int'l Seminar and Exhibits — Chicago; asisonline.org; (703) 519-6200. Sept. 25-28: Custom Electronic Design & Installation Association (CEDIA) Expo — Denver; cedia.net; (800) 669-5329. Oct. 16-18: Electronic Security Technology Summit — Miami Beach, Fla.; electronicsecuritysummit.com; (585) 225-1010. Oct. 19-23: International Association of Chiefs of Police (IACP) Conference — Philadelphia; theiacp.org; (703) 836-6767. Oct. 23-24: Security Canada Central — Toronto; securitycanadaexpo.com; (800) 538-9919. 24 / SECURITYSALES.COM / SEPTEMBER 2013 Companies report average gross proft margins of 34% on video management 16% - Lack of budget 14% - Lack of time to study Big Data 14% - Lack of solutions that ft our needs 13% - Lack of IT staff 10% - Lack of expertise 6% - Other More than one in four respondents globally (27%) said data security and risk management is a major concern. They cited the sheer volume of data, the number of ways to access data, and lack of budget for security as the top reasons why securing information in Big Data projects is such a challenge. IT BUDGETS ARE PROJECTED TO RISE Budget increase in 2013 3 in 5 (60%) Budget increase over next 3 years Nearly 3 in 5 (57%) surveillance installations. Find more SecuritySTATS at www.securitysales. com/securitystats More than half of the respondents believe Big Data will affect increases to their organizations' IT budgets now and into the future.