With so much information on the web there is a great flow of information that companies can use for their decision making. Big Data drives this principle, however, to be applied in Latin America requires much more knowledge in technology.

With the growth of the digital era everyone wants to use technology to facilitate their work environment, but in Latin America there are still many bases to start taking advantage of the Big Data benefits. In fact, what draws the continent’s attention is its growth in Internet consumption, but not its use in a productive way.

Previously, we saw that one of the benefits of Big Data is to facilitate processes and provide reliable information to make decisions. In the case of Latin America, the departments that use Big Data represent only 17, 6%, a very low figure compared to other continents, such as 24.4% in Asia, according to the study by Latin American Communication Monitor.

The Challenges of Big Data in Latin America 1

However, it is the stock exchange companies and the organizations that have the baton to work with macro data, surpassing the consulting and marketing companies.

What are the challenges?

“One of the main challenges of our region is to establish a true dialogue between the national statistical offices and the big Big Data players, most of them private” This is what Alicia Bárcena, Executive Secretary of ECLAC, establishes.

On the other hand, the portal Puro Marketing announced that communication professionals are not interested in immersing themselves in this profession or creating debates to conclude how this trend is renewing the world of statistics and communication. Even, from the Big Data can create a new professional specialization and few who decide to take it.

There is another challenge that Latin America needs to overcome, and it is the digital divide that generates the lack of the necessary bases to analyze this type of data, which is why many companies doubt whether they are prepared to implement Big Data in their strategies.

The Challenges of Big Data in Latin America 2

In summary, three challenges that the continent faces to apply digital analysis could be identified. These are:

  • The little implementation of modernization projects.
  • The lack of professional training in the subject.
  • The gap between local needs and available solutions.

The culture to overcome these challenges

Big Data is here to stay, and now it is a trend that continues to grow, which is why Wikibon classified the world Big Data market at 18.3 billion dollars in 2014, and I predict that it will grow at an annual rate of 14.4%, to reach 92.2 billion dollars in 2026. This is a market that can not be missed.

The first thing that has to be done is the training of experts in the subject, we must invite universities to consider in the analysis of digital data as part of the curriculum as a thematic axis to carry out specialized programs in the field. It is a medium-term measure but it will have long-term repercussions.

For their part, companies should also make small adjustments to their payroll and start asking Data Scientists which is the profession that is responsible for making the analyzes based on the Big Data results.

The Challenges of Big Data in Latin America 3

Even so, there are those who have good predictions for Latin America. For example The BBVA establishes through its business blog that “The global and Latin American future will be marked by technology and the different ways of applying it in all sectors of real life” This means that little by little the Latin American population will learn to get more out of the technological resources.

But to get to this it is necessary to train in resources and professionals for it. It is already proven that Big Data drives the efficiency of companies in a surprising way, so we must take advantage of what this trend can give Latin American companies

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