Monday, November 9, 2015

Better Sit Down Before You Read These Big Data Facts

Big Data by Jonah Engler

Big Data is awesome. Of course, you’d expect us to say that, but it’s not just us. Practically everyone who has experienced the wonder of data science applications in their business feels exactly the same way. Eventually, this new opportunity will become a common paradigm, then it will become Business As Usual. At that point, what people are calling the “new revolution” in business analytics will benefit every business – and every person – on the planet.

But where is big data right now? Check out these amazing Big Data facts.

More data have been produced in the past two years than in the entirety of human history to this point. Every single second we actively create new data. Google alone accounts for 1.2 trillion searches every single year. By the year 2020, data will grow by ten times its current size, from 4.4 zettabytes to 44 zettabytes (44 TRILLION gigabytes). On a daily basis, somewhere around ONE BILLION people log on to Facebook. That single website generates 31.25 million message views and nearly 3 million video views EVERY MINUTE. The speed at which data grows is faster than anything mankind has ever seen. By 2020, every human will create 1.7 megabytes of new information every second.

More than a billion smartphones are shipped on an annual basis. Each of these handheld computers collect infinite amounts of data, both created by the user and collected by apps the user interacts with and through. By 2020, there will be 6 billion smartphones in use globally, and more than 50 billion smart connected devices in the world. Every single connection means more data all the time. Billions of new data points every second. By the same year, at least one-third of this data will be contained or conducted in or through the cloud. Bottom line, the trend on Big Data is rising. Nearly straight up.

Growth is unavoidable. In some ways, immeasurable. Data science works daily just to keep up with a demand currently outstripping our capacity to chase, collect, store, and extrapolate from Big Data. The big question, at this point, - what will you and your business choose to do with and about Big Data? If you wait to make a decision, you fall behind your competitors who already scale their big data operations. And, if you dive in too quickly, without expert help, you may waste a significant investment simply because you make the common mistake of treating this new paradigm using old logic and protocols. Don’t let that be you. When you embrace the Big Data revolution, do so properly, with both eyes open and the right team working to make sure you are successful.

Jonah Engler is an entrepreneur who hails from NYC.

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