The real potential of big data goes beyond the mere size of data itself. With a yearly revenue expected to reach $42 billion in 2018 and an accumulated volume of 44 zettabytes by 2020, big data is, hands down, the future of commerce. Today, an immense volume of high-velocity data is produced every day, opening a world of possibilities and business opportunities for companies who exploit it for competitive advantage. By “cracking the safe,” technology enabled a true business revolution.Ī true mirage for analysts who tried to access the myriad of unique insights that it may provide, the ever-expanding pool of data generated by databases, archives and internal sources evolved into an ocean with the introduction of the internet and social media.
The newest data analysis methods and advancements in cloud computing lowered the threshold for what big data can be used by companies to drive their interests forward. It always existed – but today, the biggest difference is that this immense vault of useful info and actionable insights is now finally accessible. Despite being one of the latest technology trends and the focus of so much attention in the business world, big data is not a true novelty.
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