A new national data analytics research centre is to create 300 jobs over the next six years.

The new centre, called Insight, will bring together resources of four universities - Dublin City University, NUI Galway, University College Cork and University College Dublin.

200 researchers and 30 industry partners will be involved in the initiative.

Insight aims to develop new technologies to capture the huge quantities of data generated every day.

It aims to transform data into useful tools and resources for society, the economy, health and Government.

It is the largest of seven new world class research centres being created by Science Foundation Ireland and will receive €58m in funding from the Government as part of its Action Plan for Jobs.

The industry will provide a further €30m in funding.

This makes the investment the largest ever in a single research centre in the history of the State.

The centre's management claims 300 direct jobs will be created by spin-offs from the centre over the next six years, with thousands more indirect jobs likely.

Insight will be launched later this morning by Minister for Enterprise, Jobs and Innovation Richard Bruton.