Outstanding Big Data performance for 2020
Let’s find out together as we surf through some of the most impressive Big Data statistics for 2020.
Big data refers to enormous data sets gathered from numerous sources. These data sets cannot be collected, stored, or processed using any of the existing conventional tools due to their quantity and complexity.
So, there is a variety of tools used to analyze big data — NoSQL databases, Hadoop, and Spark — to name a few. With the help of big data analytics tools, we can gather different types of data from the most versatile sources — digital media, web services, business apps, machine log data, etc.
Big Time Big Data Statistics
The big data analytics market is set to reach $103 billion by 2023.
- Poor data quality costs the US economy up to $3.1 trillion yearly.
- In 2020, every person will generate 1.7 megabytes in just a second.
- Internet users generate about 2.5 quintillion bytes of data each day.
- 95% of businesses cite the need to manage unstructured data as a problem for their business.
- 97.2% of organizations are investing in big data and AI.
- Using big data, Netflix saves $1 billion per year on customer retention.
Now that we’ve covered the basics, let’s check out some interesting statistics about big data.
why is big data important? Once analyzed, this data helps in a multitude of ways. In healthcare, it helps avoid preventable diseases by detecting them in their early stages. It is also immensely useful in the banking sector, where it aids in recognizing illegal activities such as money laundering. Finally, in meteorology, it helps study global warming.
Big Data 2020 Statistics
Let’s find out some interesting statistics
1. Google gets over 3.5 billion searches daily.
(Source: Internet Live Stats)
Google remains the highest shareholder of the search engine market, with 87.35% of the global search engine market share as of January 2020. Big Data stats for 2020 show that this translates into 1.2 trillion searches yearly, and more than 40,000 search queries per second.
What’s more, 15% of all new Google searches have never been typed before! So, it is not a case of repeating the same set of information. Instead, more unique sets of data are generated continually through Google daily.
2. WhatsApp users exchange up to 65 billion messages daily.
(Source: Connectiva Systems)
Did you know that WhatsApp is the most popular and most downloaded messaging app worldwide?
That’s what a user base of 2 billion people gets you.
Did you also know that WhatsApp is now available in 180 countries and 60 different languages worldwide?
How about the fact that 5 million businesses are actively using the WhatsApp Business app to connect with their customers? Or the fact that there are over 1 billion WhatsApp groups worldwide?
3. Poor data quality costs the US economy up to $3.1 trillion yearly.
Before Big Data analytics became a fully developed idea, companies were storing tons of info in their databases, not knowing what to do with them. According to global statistics on Big Data technologies, on average, poor data quality costs businesses worldwide anywhere between $9.7 million and $14.2 million yearly. For countries like the US, which operates in a highly data-driven economy, that figure could rise into trillions.
Poor data quality can lead to poor decision making or wrong business strategy. This will, in turn, bring about low productivity and create mistrust between customers and a brand, thereby causing that brand to lose reputation in the market. That’s BI tools and data visualization software are vital for business success in 2020.
4. 95% of businesses cite the need to manage unstructured data as a problem for their business.
In a digitally powered economy like ours, only those with the right form of data can successfully navigate the market, make future predictions, and adjust their business to fit market trends. Unfortunately, most of the data we generate today is unstructured, which means it comes in different forms, sizes, and even shapes. Hence, it is difficult and costly to manage and analyze, which explains why it is a big problem for most companies.
5. 45% of businesses worldwide are running at least one of their Big Data workloads in the cloud.
(Source: ZD Net)
According to statistics about Big Data in cloud computing, the cloud is one of the most recent technological trends that is taking the world by storm. It eliminates the need for organizations to purchase and maintain costly computing hardware, pay for hosting, and develop the software needed for the day-to-day operation of servers.
Although the cloud could house 85% of all workloads on the internet by 2020, only a small percentage of businesses are currently utilizing it for Big Data operations.
6. 80–90% of the data we generate today is unstructured.
According to Big Data facts, in today’s world, consumers want to have the same sublime experience when dealing with a brand. Regardless of the device, they are using, they always expect the same quality experience.
A user can contact a company through social media using a PC, surf the company website on mobile, make a purchase using a tablet, and contact your customer service via email. As such, all data are generated from the same person but come in different forms.
Internet users generate about 2.5 quintillion bytes of data each day.
Big data analysis and study is in high demand, and going to be in demand in the coming years!
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —
Affiliate disclosure: This post contains affiliate links,means when you click on it and make a purchase, we receive a small commission.
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — Originally published at https://www.linkedin.com.