Big Data Facts You Didn’t Know
The term Big Data has been buzzing around tech circles for a few years now.
Forrester has defined big data as “Technologies and techniques that make capturing value from data at an extreme scale economical.” The key word here is economical. If the costs of extracting, processing, and making use of data exceed the advantages to be gleaned, then it’s a pointless exercise. Fortunately, as data volumes have grown, so has a technology that helps bring its use into the ambit of most businesses. Cloud technology, whether public, private, or some combination of the two, is an essential component in enabling businesses to generate a substantial ROI from big data analytics.
Big Data Facts
Here are some interesting big data facts you might not know about big data via The Visual Capitalist:
- Big Data got its start in the 1960’s, as marketers used people’s zip codes to gather info on customers.
- Locale is a good starting off point, but social characteristics, lifestyles and interests are far more useful for marketing purposes.
- Google searches and social media sites are the best sources for this data.
- 90% of the data in the world today has been created in the past 2 years.
- Data is literally being produced at the speed of light, doubling in size every 40 months.
The evolution of big data companies has certainly been an interesting one. It is now a multibillion dollar industry. Where do you see Big Data going within the next few years? See the infographic below.