Data analytics and big data have become one of the trendiest topics recently among most industries.

Thanks to its varied application and the fact that data will take one of the most important places in the decision-making process, companies are investing large sums of money into data analytics processes and systems.

Data can help companies and organizations to make more informed decisions and achieve their goals securely.

99.5% of data actually never gets leverage or analysed.
Statistic – Fact

Data together with artificial intelligence will be the two industries that will impact the world largely in a foreseeable future.

How do we know that data is so important? To understand the relevancy of big data analysis in the world, I have outlined statistics that will help you understand how powerful data will be in the future.

Top Data Analytics Statistics

Below I have written the most relevant data analytics statistics that will help you understand the impact on data in our society. Some of these will shock you such as the number of jobs created within the data industry.

  • 99.5% of the data actually never gets leverage or analysed.
  • We have generated more data in the last two years than in the entire history before that.
  • Worldwide 6 million jobs have been generated in the data since 2012.
  • We have generated more data in the last two years than in the entire history before that.
  • By expanding their attainable data by 10%, Fortune 1000 companies can increase their profit by more than $65 million in additional income.
  • According to Hosting Tribunal, organisations that leverage the power of big data could increase their operating margins by up to 60%
  • 36.2% of organisations confirmed in a NewVantage study that their main reason to invest in data was better decision-making.
  • Approximately, each person generates about 1.7 MB of data every second.
  • Computer-generated data will account for over 40% of all data created online.
  • More than two-thirds of data today is generated by individuals, not companies.
  • According to Statista, the data industry will be worth $77 billion in 2023.

We have generated more data in the last two years than in the entire history before that.
Statistic – Fact

The data industry has boomed within the last ten years. The amount of data we are storing today is enormous and teams need to grow in order to cope with the demands of the industry.

That is why a shocking 8 million jobs have been generated in the United States alone since 2012.

If we compared that to other industries such as retail which are losing hundreds of jobs every year, this figure comes up even more astonishing.

Data Analytics Growth Statistic

As you can see on the graph below, the big data market size has grown at an average 10% each year since 2011 and as if today (2020), ti it expected to almost double in size in the next seven years.

big data market growth statistics

Such as boom resembles the growth of internet usage and consumption during the early days of the technological revolution.

It would be very unlikely that data will explode as internet did as its application are much less mainstream to put it simply.

Worldwide 6 million jobs have been generated in the data since 2012.
Statistic – Fact

Even though companies are spending big amounts of money on updating or building systems in order to collect as much data as possible in most occasions only 50% of all the stored information get actually analyzed or used for analytical purpose.

Needless to say that currently, we are storing much more information than what we actually need, therefore scrapping data services are very demanded today.

But also most stored data remains latent on the systems until companies actually are required to be implemented in marketing campaigns or business’s decisions.

In spite of having so much data getting rusty on our systems, data analytics enjoys a great reputation and most executives consider that adapting to a data-driven economy will be extremely crucial to compete in the future.

Storing consumers data to understand and predict markets’ behaviour could help companies make more informed decision by reading insights which otherwise would not be accessible.

Banks, fintech, retail and governmental institutions are the ones who can benefit the most from data analysis.

By expanding their attainable data by 10%, Fortune 1000 companies can increase their profit by more than $65 million additional income.
Statistic – Fact

By implementing small changes in data accessibilities, companies will eventually be able to increase their net income.

Thanks to the insights and information extracted by data analysis from companies’ stored inputs, organizations could increase their profit.

Just a small change in the way companies stored and analysed their data could have a major impact. This is how the power of understanding, storing and reading your data can help companies move forward closer to their goals.

For examples, another industry that could benefit immensely from big data is the health care sector. Experts predict that by adopting data analytics systems or improving current on, health care would save as much as $300 million each year.

According to Hosting Tribunal, organisation that leverage the power of big data could increase their operating margins by up to 60%
Statistic – Fact

How companies use data analytics?

Data analytics have many purposes, however, depending on the nature of your organisation, it can be applied to market prediction, commuter behavioural patterns.

For examples, clinics could discover which services are more demanded depending on the time of your year and how many patients expect on a particular day.

36.2% of organisations confirmed in a NewVantage study that their main reason to invest on data was better decision-making.
Statistic – Fact

How much is generated today?

Data is growing at a pace that most of our systems will struggle to extract however heavy investment on the industry is supporting this data revolution.

But how much is there stored? At the moment of writing this, each one of us is creating as much as 1.7MB of data per second. It might sound like a lot but it needs to be taken into account the fact that video takes a lot of space and currently users are creating large amounts of video.

Approximately, each person generate about 1.7 MB of data every second.
Statistic – Fact

So there is a lot data being generated every minute, mostly due to internet and digital communications but how much of that data is stricly users generated?

Computer-generated data will account for over 40% of all data created online.
Statistic – Fact

Not all data is the same and not all data has the same value. Due to technical performance, a lot of data is computer generated. But what does this mean?

For example, when a video is uploaded to YouTube, extra information such as date, IP address of the users, size of videos and many other details of the video are uploaded together with the audio and image content.

Individuals generate more data than companies

Even individuals are responsible for most of the data created, all that information is stored by organisations seeking to understand the public in order make more informed decisions about their companies.

However, users are ultimately employing these resources and directly responsible for creating most data. Social media, marketing and analytics platforms such as Google Analytics are experiencing large amounts of data collection.

more than two-thirds of data today is generated by individuals, not companies.
Statistic – Fact

The size of the Big Data market

As I mentioned above, the data analytics market has grown at 10% each year and it will continue to do so for the next few years. It is expected to almost double in size within the next seven years.

According to Statista, the data industry will be worth $77 billion in 2023.
Statistic – Fact

Data Analytics Statistics in a Nutshell

data statistics
Sources
  • https://hostingtribunal.com/blog/big-data-stats/#gref
  • https://kommandotech.com/statistics/big-data-statistics/
  • Statista

Leave a Reply