12 very sharable stats on big data

12 Very Sharable Stats on Big Data by Reagan Cook

“You can have data without information, but you cannot have information without data.”

- Daniel Keys Moran

How big is Big Data?

According to a definition by IDC data can be described

as BIG once it reaches a threshold of 100 terabytes.

That’s roughly the capacity of 6,000 iPhones. While that might seem like a lot, in today’s corporate world it’s really not that much.

Almost all large retail brands now manage a database of at least 100 terabytes.    

For big tech companies like Facebook and Amazon, 100 terabytes can be collected in an afternoon.

This ever increasing flood of data should  provide a clear message to the C-suite:

Organize or Die.

If you know a particularly stubborn executive who still isn’t moving on big data, perhaps one of the of following stats on will help change their mind.

1.  In 2000, 25% of the world’s stored information was digital. Today, more than 98% of all stored information is digital.

(Foreign Affairs)

2. Global data production will be 44 times higher in 2020 than it was in 2009. (CSC)

3.  The digital universe will grow from 3.2 zettabytes in 2013 to 40 zettabytes in 2020.

One zettabyte is roughly a billion terabytes.

(Hadoop Summit 2014)

What is a zettabyte? 1,000, 000, 000, 000 gigabytes 1,000, 000, 000, 000 terabytes 1,000, 000, 000, 000 petabytes 1,000, 000, 000, 000 exabytes 1,000, 000, 000, 000 zettabyte

So roughly the storage capacity of 60 billion iPhones.

x 60 BILLION

Where is Big Data coming from?

4. An estimated 80 to 90% of the data in any organization is unstructured—or doesn’t fit neatly in a traditional row-column database. Some examples include Email messages, word processing documents, videos, photos, audio files, presentations, and Web pages. (Webopedia)

5. More than 70% of data is created by individuals – but enterprises are responsible for storing and managing 80% of it.

(CSC)

How is Big Data shaping business decisions?

6.  A lack of analytics tools an repressive data silos lead company’s to ignore 88% of their customer data.

(Forrester)

7. 91% of US organizations have  invested in data-quality initiatives in the past year.

(Experian)

8.  By 2015, 20% of Global 1000 companies will have established a strategic focus on “information infrastructure”.

(IDC)

9.  65% of Chief Data Officer positions have been created

in only the past three years. (Experian)

What is the monetary cost?

10. Dirty data, or poor data quality, costs U.S. businesses $600 billion annually.

(Fathom)

11. The 2014 mean base salary for a staff data scientist is $120,000, and $160,000 for a manager.

(Burtch Works)

12. Companies that put data at the center of the marketing decisions improve their marketing return on investment (MROI) by 20%.

That adds up to $150 – $200 billion

of additional value based on global annual marketing spend of an estimated $1 trillion.

(McKinsey)