These days, the term “Big Data” is popping up everywhere in business, regardless of the industry you are in. What exactly is Big Data? It can be defined as, “Extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.” How can you use big data in your company? Our upcoming webinar on Tuesday, June 7th will answer that question and more! To register, click here.
Until then, read on for 13 staggering facts about data and it’s growth over the past ten years.
- Within five years there will be over 50 billion smart connected devices in the world, all developed to collect, analyze and share data. (Forbes)
- By 2020, we will have over 6.1 billion smartphone users globally. (Forbes)
- In 2015, 1 trillion photos will be taken and billions of them will be shared online. (Forbes)
- By 2017, nearly 80% of photos will be taken on smart phones. (Forbes)
- Currently, up to 300 hours of video are uploaded to YouTube every minute of the day. (Forbes)
- More than 90% of all the data in the globe was generated over the course of the past two years. (Business2Community)
- Every second we create new data. For example, we perform 40,000 search queries every second (on Google alone), which makes it 3.5 searches per day and 1.2 trillion searches per year. (Bernard Marr)
- Every single minute of every day, 570 new websites come into existence. (Business2Community)
- The total volume of data that the industry captures and stores, gets doubled in every 1.2 years. (Business2Community)
- Estimates suggest that by better integrating big data, healthcare could save as much as $300 billion a year — that’s equal to reducing costs by $1,000 a year for every man, woman, and child. (Bernard Marr)
- For a typical Fortune 1000 company, just a 10% increase in data accessibility will result in more than $65 million additional net income. (Bernard Marr)
- Retailers who leverage the full power of big data could increase their operating margins by as much as 60%. (Bernard Marr)
- Currently less than 5% of all data is ever analyzed and used. (Bernard Marr)
To learn more about how to embrace the power of data in your own business, make sure to sign up for our FREE webinar on Tuesday, June 7th. For more details and to reserve your space, click here.