The volume, velocity and variety of data created in the modern digital world is truly astounding. Here are some facts and figures :
- The volume of data created by U.S. companies alone each year is enough to fill ten thousand Libraries of Congress.
- According to McKinsey – a retailer using big data to the full could increase its operating margin by more than 60%.
- Zuckerberg noted that 1 billion pieces of content are shared via Facebook’s Open Graph daily.
- Google’s Eric Schmidt claims that every two days now we create as much information as we did from the dawn of civilization up until 2003
- Bad data or poor data quality costs US businesses $600 billion annually.
- According to Gartner Big data will drive $232 billion in spending through 2016.
- 48 hours of video are uploaded to YouTube every minute, resulting in nearly 8 years of content every day
- Data collection…
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