Data is the new currency, and it’s disrupting virtually every industry. As people become more connected through technology and social media, more data points are available for collection. In fact, 2.5 quintillion bytes of data are created every 24 hours. That’s 2,500,000,000,000,000,000 bytes of data, to be precise!
Over 90% of data that exists has been generated only in the past two years. Each data point represents a single user’s action, and a unique narrative will begin to emerge with larger sets of information. Data from the 3.7 billion online users can be used to understand individuals’ unique needs, behaviors and interests. However, data can also be incredibly daunting. Identifying the key performance indicators that are important to your business, sorting through mounds of data to measure the right things, and making sound marketing decisions based on the findings are among the many challenges (and opportunities!) of big data.
Learn more: Group3 Communications