Increase in technology advancement and computing has also generated more data than ever before and we are learning how to utilize that data for good.
If you are an IT guy or a Data Analyst you will be asked for the data insights so that based on your data decisions will be taken accordingly either it can be good or bad. If the data gives you valuable inputs then chances are to invest more money based on the performances. As a company you want to look at the data because it gives us the wider angle of every aspect in terms of company growth. We have covered some interesting facts about data using different sources.
- Less than 0.5% of all data we create is ever analysed and used.
- A 10% increase in data accessibility will result in more than $65 million additional net income for the typical Fortune 1000 company.
- The US leads the data science market, requiring 190,000 data scientists by next year.
- Google uses about 1,000 computers to answer every single search query.
- By 2020, there will be more than 50 billion smart connected devices in the world, collecting, analysing and sharing data.
- By 2025, the Data Science analytics sector in India is estimated to grow eightfold, reaching $16 billion.
- Last year, an estimated 1 trillion photos were taken and billions of them will be shared online.
- Nearly 80% of photos are taken on smart phones and most will become searchable data online.
- Every second 60,000 search queries are performed on Google and 1.2 trillion searches per year.
- By 2020, about 1.7 megabytes of new information will be created every second for every human on the planet.
- Data scientists earn more than the average IT employees.
- 1 billion pieces of content are shared via Facebook’s Open Graph every day.
- Bad data costs US businesses alone $600 billion annually.
- 70% of data is created by individuals, but enterprises are responsible for storing and managing 80% of that.
- There are nearly as many pieces of digital information as there are stars in the universe.
These facts talk about the importance of data in the current situation and in the future. This numbers will gradually increase overtime and so the job of a data analyst or scientist to utilize this numbers for good use.
This numbers clearly play the role of a Data Scientist following the life cycle of business understanding, data mining, data cleaning, data visualization, and data exploration to good use.