WHERE DOES IT ALL GO ?
“ Data is not simply the facilitator for better underwriting and keener pricing , but is the very DNA of the 21st-century connected organisation ”
— KPMG
buy something with your contactless debit card ? Data . Every time you read an article online ? Data . Every time you stream a song , movie or podcast ? Data , data , data ,” Forbes writer and business analyst Bernard Marr wrote in a recent article .
As social media usage , cell phone ownership and the ascendant ubiquity of Internet of Things ( IoT ) devices continue to grow , this trend is showing no signs of slowing down . As you read this , you ’ re creating more data .
WHERE DOES IT ALL GO ?
Every uploaded picture , downloaded PDF , streamed video , or packet of location-tracking information goes somewhere . Usually , it ’ s sold with our ( somewhat ) informed consent to companies that use it to advertise more effectively . Ever had a passing thought about getting a dehumidifier for the house and then seen nothing but ads for the Pro Breeze Electric Mini for the next day ? That ’ s the power of Big Data .
Big Bata is collected and analysed — increasingly by artificial intelligence ( AI ) and machine learning ( ML ) powered technology — in order to help companies better understand their customers , their internal workings and the world around them . Disruptive companies with a taste for innovation have been using Big Data analytics for years to develop and maintain a competitive edge . From the hospitality to manufacturing sectors , the companies that are going to survive — and thrive — in the Fourth Industrial Revolution are data-driven ones .
Fortune predicts that , by 2026 , the global Big Data analytics market will be worth in excess of $ 1trn . Every company in every industry around the world needs to be a part of the Big Data revolution , or be left behind .
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