Some businesses are just starting to understand the concept of big data, while other web-based companies have built their entire business model around it. Big data allows companies to identify trends, target customers more efficiently, run predictive analysis, and make better use of what you already know. Just ask Google, Facebook, Netflix, and Amazon for starters. Or Nate Silver, for that matter.
Data isn’t just written down or recorded through audio and video equipment anymore. Widespread home computing, social media, and mobile devices have changed all that. Data is integrated into our lives at every level. We are producing useful data every second of the day.
Data breeds itself, and if companies aren’t using the massive amount of public data available on the Internet to help grow their business, they are missing out. That’s why we monitor the web comprehensively to give businesses the upper hand. Check out this staggering statistic:
By 2008, the world was generating as much stored data from the dawn of civilization to 2003 …
… every two days.
That rate is predicted to double every two years.
If that doesn’t put things into perspective, this infographic from Jellyvision ought to help. It explores the growth of information from our own ancient roots to the modern digital age. Plus, that drawing of Venus of Willendorf is mildly disturbing.