Ireland is investing in research for big data and analytics in the hope it will lead to jobs and new business opportunities in the country with €1m committed to a new research program and center.

Accenture, HP, eBay, Dell and other local and multinational companies will guide the agenda at the Center for Applied Data Analytics Research (CeADAR), which is being established to meet what Ireland’s Minister for Jobs, Enterprise and Innovation Richard Bruton said is an untapped high-growth area.

“A key part of this government’s plan for growth and jobs is identifying areas where we believe Ireland has distinct advantages compared to other countries, and taking steps necessary to ensure that we realize our potential for employment in those areas,” Bruton said.

“Data analytics is one such sector, and the Government believes that between our climate, skills base and existing strengths in ICT, we have the potential to reap substantial benefits in terms of jobs and growth from the global expansion of this sector.”

Numerous data center, internet and technology companies have invested heavily in Ireland, making the most of its strong connectivity, with subsea connections to Europe and the US, and temperatures favourable for free-air cooling.

Last year Google launched its Dublin data center in Profile Park, which is also home to facilities operated by Microsoft, Digital Realty and Telecity Group, Facebook, Amazon and eBay’s Paypal.

Bruton said the data analytics sector is likely to grow worldwide at 40% per annum, providing an opportunity for Ireland to capitalize on its current technology footprint and become a world leader in the data analytics space.

“Establishing an industry-led technology center in this sector will ensure that the major research strengths we have built up over the past decade are directed firmly towards viable business ideas and ultimately jobs,” Bruton said.

The center will be heavily focussed on developing business around big data, from developing business tools that can address industry challenges to usage models and commercial applications.

It will be led by University College Dublin and a consortium including the University College Cork and Dublin Institute of Technology will also use funding to help adapt and deploy new technologies.

The government’s contribution so far will provide five years of funding for the efforts, based at NexusUCD, an in Industry Partnership Centre at University College Dublin.

eBay GCO of EU project and program management Dierdre Lambe said there is a strong need for new ways of handling analytics across the board.

“We got involved in CeADAR because we have a network of analysts across eBay Inc who are dealing with big data challenges on a daily basis,” Lambe said.