Why Big Data Is Everywhere [INFOGRAPHIC]
We have all heard these words flying around: “big data,” “analytics,” “data warehousing” and more. But what do they mean?
According to research from IBM, 90% of the world’s data was created in just the past few years. Where does this data come from? Well, every minute 208,300 photos are uploaded to Facebook, 350,000 tweets are sent, millions of dollars are carried out in Amazon transactions and more.
The amount of data used by our electronic devices, by enterprises and by industries has exploded! The name for big data analytics is thus derived from the way this tremendous amount of data is handled in order to make strategic, profit-driven decisions. Big data analytics makes our enormous stores of data useful.
The infographic below is a survey of how big data is causing a rise in investment in analytics. Six out of 10 companies plan to increase their investments in analytics, and there are many reasons why companies are making this conscious effort. One of the main reasons behind this change are the newer technologies and tools allowing for cheaper storage of big data. Another reason is that finding trends and patterns in customer data helps companies structure their services and products towards customer satisfaction, thereby increasing their sales, revenue and even market share!
Analyitcs is not just about effectively storing zettabytes of data. It’s about accessing this data, gathering strong insights from it, manipulating it, separating usable data from unusable data, maintaining the integrity of data, publishing results and lastly being able to effectively use this data to drive business decisions.
Every workplace utilizes the capabilities of Excel, but there are more powerful tools for analytics that are not being adopted to their full capacity even today. Tools like R, SAS and Tableau are the most talked-about in this field and are now becoming an asset to thousands of organizations. When it comes to investment in analytics, companies are looking to make the largest investments in people and tools followed by training material and data sources.
Big data analytics is about creating the best possible user experience and the smartest, most efficient networks by learning from data. Analytics is no longer just a tool or part of research: it has become a substantial sector in the industry. With exploding volumes of data, it is mandatory for organizations to invest in data analytics so they can grow toward their customers’ needs.