By the year 2020, more than 50 billion Internet-enabled devices will exist, and over 40 zetabytes of digital information will be stored in our world. With 570 new websites created every minute of every single day, the data created in only one day would stack all the way to the moon and back if stored on DVDs. But even with the vast amount of electronic material available to analyze, most companies choose not to examine over 80% of the accessible information, on average. Choosing to pay attention to big data can be a smart choice for companies, as proper data analytics can lead to an increase in productivity and profitability across all industries, and can typically lead to a 60% increase in profit margins when the full use of data analytics is achieved.
Choosing to invest in electronic material collection, storage, and examination can be costly for companies and cause headaches. There’s infrastructure to be built, a vast amount of data that must be collected and securely stored, and acquiring individuals with the skills to tackle this information-intensive task can be just too daunting. By leaving data analytics to the experts, companies can access their important information anywhere and anytime, and they can receive results in days instead of months. By leaving the groundwork to the experts, data collection, examination, and storage can be simple and painless. Now companies can spend their time deducing results from the data analysis instead of worrying about funding for infrastructure costs.
For more insight on big data, check out the Treasure Data infographic below: