The world of Big Data is growing larger every day, with no signs of slowing down. According to statistics, the global data sphere will expand to 175 zettabytes by 2025. Many people might wonder about the reason behind this unprecedented growth. The factors driving this Big Data movement over time are still a novel concept to most people. However, businesses have been leveraging the power of Big Data for quite some time now.
During the last decade, Big Data has become the center of many business operations and governance practices. They collect valuable data insights from consumers and harness their power to improve their products and services.
This collective data helps businesses align their strategies, enhance team collaboration, access new growth opportunities, and remain competitive in the global business marketplace. Whether it’s forecasting accurate sales or planning for every quarter, Big Data helps organizations evolve and grow.
In addition, Big Data also helps businesses in managing challenges and navigating new trends and innovations. That is, if they manage this data effectively. This is where you might need the services of a Big Data consulting firm like Vates. They can help you understand the challenges and opportunities that come with leveraging the power of Big Data and ensure you use the valuable insights efficiently.
The truth is that big data is not a whim like most people assume it to be. It is indeed the beginning of a revolution that will transform the way we see and do things, touching the lives of every being and business on the planet. Although some people still purposely choose to ignore the power and benefits that come with big data, they won’t be able to do so for much longer. Big Data will drive businesses in the future.
To help you comprehend the impact of Big Data on the global business community, we have put together some interesting Big Data facts you didn’t know before. Keep reading to learn more.
17 Interesting Big Data Facts That You Didn’t Know!
Big Data Fact # 1
The Big Data volumes are increasing at a drastic rate. More data has been generated in recent years compared to the entire history of the human race.
Big Data Fact # 2
New data is created every second. For instance total of 40,000 search queries are registered every second (only on Google), which makes a total of 3.5 billion searches every day and 1.2 trillion searches every year.
Big Data Fact # 3
More than one billion people used Facebook in August 2015 in a single day.
Big Data Fact # 4
Social media users send 31.25 million messages and view 2.77 million videos on average every minute.
Big Data Fact # 5
Video and photo data is exploding, where up to 300 hours of film are uploaded every minute on YouTube alone.
Big Data Fact # 5
Big Data Fact # 6
By 2020, at least one-third of all valuable data insights will pass through the cloud, which is a large network of several servers connected through the Internet.
Big Data Fact # 7
Seeing the potential of Big Data, the White House has invested more than $200 million by now in big data projects.
Big Data Fact # 8
A mere 10 percent increase in data availability can result in more than $65 million surplus net income for a usual Fortune 1000 company.
Big Data Fact # 9
As a retailer, if you leverage the full potential and power of Big Data, you can boost your operating profit margins by as much as 60 percent.
Big Data Fact # 10
The Big Data industry will be valued at an estimated $77 billion by 2023.
Big Data Fact # 11
Big Data is now used by various major industries, with the media and entertainment topping the list. For instance, Netflix analyzed its 100 million subscribers, influencing 80 percent of the content viewed by subscribers thanks to its correct data insights.
Big Data Fact # 12
2,000,000,000,000,000,000 bytes of data are created every day across various industries.
Big Data Fact # 13
Many companies will store their data in a public cloud data warehouse, like Snowflake, Google Big Query, and Amazon Redshift, by 2023.
Big Data Fact # 14
Most organizations use only 12 percent of the data they gather, which means 88 percent of data goes to waste.
Big Data Fact # 15
Around 73.4% of companies say that adopting Big Data and AI practices in business is a challenge.
Big Data Fact # 16
Only 26 percent of companies claim they have accomplished a data-driven organizational culture.
Big Data Fact # 17
One out of four organizations claims they have no source of accuracy when it comes to centralizing data.
Work with Vates: The Best Big Data Company
As an experienced IoT solution and consulting company, Vates goes above and beyond in helping our clients achieve operational success, leading to business sustainability and growth. We can work in multiple time zones to help you address your global clientele’s needs.
We aim to drive innovation and leverage the power of emerging technologies to help our customers gain a competitive edge in an increasingly complex economic environment.
Vates provides the ultimate testing services to our clients to ensure a bug-free and smooth software development process. Our expertise lies in creating a flexible and agile testing environment that helps check the efficacy and reliability of software and applications.
Apart from software testing, we also provide Big Data consulting services, system integration services, Jira service management, agile software development, and IoT solutions and consulting services. Our goal is to be an industry leader in innovation and help our clients with modern technologies.
So what are you waiting for? Visit our website to learn more about our services or contact us for more information.