Big data is a hot issue in today’s business world. The massive increase in the amount of data collected and stored by organizations around the world over the past few decades is undeniable and the ability to access and analyse this data is quickly becoming more and more important. Large amounts of data pose the threat of ransomware attacks or accidental deletion so organizations need to implement a strategy where they can be confident that their data is secure and organised.
Below are some key statistics, facts and figures which highlight this growth in data and how important it is for business intelligence and decisions.
Today’s Business and Technology Environment
- 2.7 Zetabytes of data exist in the digital universe today.1
- In 2020 every person generated 1.7 megabytes in just a second.
- The Obama administration is investing $200 million in big data research projects.2
- IDC Estimated that by 2020,business transactions on the internet- business-to-business and business-to-consumer – will reach 450 billion per day.3
- Facebook stores, accesses, and analyzes 30+ Petabytes of user generated data.4
- Akamai analyzes 75 million events per day to better target advertisements.5
- 94% of Hadoop users perform analytics on large volumes of data not possible before; 88% analyze data in greater detail; while 82% can now retain more of their data.6
- Walmart handles more than 1 million customer transactions every hour, which is imported into databases estimated to contain more than 2.5 petabytes of data.7
- More than 5 billion people are calling, texting, tweeting and browsing on mobile phones worldwide.
- Decoding the human genome originally took 10 years to process; now it can be achieved in one week.8
- 95% of businesses cite the need to manage unstructured data as a problem for their business. 9
- The largest AT&T database boasts titles including the largest volume of data in one unique database (312 terabytes) and the second largest number of rows in a unique database (1.9 trillion), which comprises AT&T’s extensive calling records.
Rapid Growth of Big Data
- YouTube users upload 48 hours of new video every minute of the day.10
- 571 new websites are created every minute of the day.11
- Brands and organizations on Facebook receive 34,722 Likes every minute of the day.12
- 100 terabytes of data uploaded daily to Facebook.13
- Google gets over 3.5 billion searches daily.14
- 30 Billion pieces of content shared on Facebook every month .15
- 80-90% of the data we generate today is unstructured. 17
In other words, the amount of data in the world today is equal to:
- Every person in the US tweeting three tweets per minute for 26,976 years.
- Every person in the world having more than 215m high-resolution MRI scans a day.
- More than 200bn HD movies – which would take a person 47m years to watch.
The Challenge Market and the Marketers’ Face
- The Big data analytics market is set to reach $103 billion by 2023.18
- In the developed economies of Europe, government administrators could save more than €100 billion ($149 billion) in operational efficiency improvements alone by using big data, not including using big data to reduce fraud and errors and boost the collection of tax revenues.21
- Poor data across businesses and the government costs the U.S. economy $3.1 trillion dollars a year.
- 14.9 percent of marketers polled in Crain’s BtoB Magazine are still wondering “What is Big Data?”.23
- 39 percent of marketers say that their data is collected “too infrequently or not real-time enough.”24
- 29 percent report that their marketing departments have “too little or no customer/consumer data.” When data is collected by marketers, it is often not appropriate to real-time decision making.25
Real Business Issues of Big Data
- According to estimates, the volume of business data worldwide, across all companies, doubles every 1.2 years.26
- Poor data can cost businesses 20%–35% of their operating revenue.27
- Poor data quality costs the US economy up to $3.1 trillion yearly.28
- According to execs, the influx of data is putting a strain on IT infrastructure. 55 percent of respondents reporting a slowdown of IT systems and 47 percent citing data security problems, according to a global survey from Avanade.29
- In that same survey, by a small but noticeable margin, executives at small companies (fewer than 1,000 employees) are nearly 10 percent more likely to view data as a strategic differentiator than their counterparts at large enterprises.30
- Three-quarters of decision-makers (76 per cent) surveyed anticipate significant impacts in the domain of storage systems as a result of the “Big Data” phenomenon.31
- 40% projected growth in global data generated per year vs. 5% growth in global IT spending.32
Take Control with SISCIN
The increase in Unstructured data collected by the business is undeniable and they are under more and more pressure to retain it for longer periods of time. SISCIN is a cloud-based solution which solves your organisation’s Unstructured Data problems by helping you to Map, Move and Manage your Data.
SISCIN from Waterford Technologies starts working in seconds and maps your Data in minutes allowing you to quickly analyse your data, move the relevant data to the cloud and delete redundant and useless data to reclaim storage space.
Get started with SISCIN today by downloading your free 14-day trial. Your trial account will allow you to map your organization’s data to understand the data you are currently holding. Your trial account is fully featured and can analyse up to 1TB of data from a single server.
1 MarTech – Big Data Brings Marketing Big Numbers, 2, 4, 5 Wikibon – Taming Big Data, 3 Wikibon – The Rapid Growth in Unstructured Data, 6 Sys-Con – Ventana Research Survey, 7 SAS Big Data Meets Big Data Analytics, 8 Economist – Data, data everywhere, 9 TechCrunch – Google Processing 20,000 Terabytes A Day, And Growing, 10, 11, 12, 13, 16 Wikibon – The Big List of Big Data Infographics, 14 MediaPost – Role Of Big Data In Marketing And Customer Service, 15, 21, 22, 32 McKinsey – Big data: The next frontier for innovation, competition, and productivity, 17 SiliconRepublic – Amount of data in 2011 equal to 57.5bn 32GB Apple iPads, 18 https://techjury.net/blog/big-data-statistics/#gref 19 ZD Net – What is ‘big data’?, 20 Statspotting – Big Data Statistics: $16.9 Billion Market By 2015, 23 Forbes – B2B Marketers: Use Big Data, New Tools to Evaluate, Execute, Evolve, 24, 25 CISION – Study Finds Marketers Struggle with the Big Data and Digital Tools of Today, 26 Arizona State University, 27, 28 FATHOM – “Big Data” Facts and Statistics That Will Shock You, 29, 30 Avanade, 31 BT Plc.