Today’s article will focus on some of the most amazing big data statistics. Tech Jury has provided a brief introduction to big data for anyone new to it. Explore Big Data facts here!
Big data is a vast collection of data from many sources. Because of their complexity and quantity, these data sets cannot be stored, processed, or stored using conventional tools.
Many tools are available to analyze big data, including Spark, Hadoop, and NoSQL databases. Big data analytics tools allow us to gather data from various sources, including digital media, web services, and business apps.
Big Data 2022 Statistics
Data can be considered the new gold, but is it possible? Let’s discover together as we look through some of the most striking Big Data statistics for 2020.
- Google gets over 3.5 billion searches daily.
Source: Live Internet Stats
Google is still the largest shareholder in the search engine market, with an 87.35% share of the global market share. Big Data stats show that this amounts to 1.2 trillion search queries yearly and more than 400,00 queries per second.
Additionally, 15% of all Google search results have never been used before. It’s not the case that you repeat the same information. Google generates more data every day Google.
- WhatsApp users send up to 65 million messages per day.
Source: Connective Systems
Did you know WhatsApp is the most used and downloaded messaging app globally?
This is what you get when you have a 2 billion user base.
Did you know that WhatsApp is now available worldwide in over 180 countries?
What about WhatsApp Business is used by 5 million businesses to communicate with customers? Or the fact there are more than 1 billion WhatsApp groups worldwide?
You now know.
- Every person produced 1.7 megabytes of data per second in 2020
Companies had a lot of information in their databases before Big Data analytics was a viable idea. Global statistics show that businesses pay an average of $9.7 million to $14.2 million each year for poor data quality. This could be a huge problem for countries like the US, where data is a major part of their economy.
Bad data quality can result in poor business strategies or decision-making. This can lead to low productivity, mistrust between customers, and ultimately, a brand’s reputation in the marketplace. BI tools, data visualization software and other data visualization software are essential for business success in 2021.
- 95% of businesses identify the problem with managing unstructured data in their business as a problem.
Only those with the right data can navigate a digitally-powered economy such as ours and make future predictions. They can also adjust their business to market trends. The majority of data generated today is not structured, so it can come in many forms, sizes, and shapes. It is expensive and difficult to analyze and manage, making it a major problem for many companies.
- Globally, 45% of companies have at least one Big Data workload in the cloud.
Source: ZD Net
According to statistics, cloud computing is one of the hottest technological trends. This eliminates the need to buy and maintain expensive computing hardware, pay hosting fees, and develop the software required for the daily operation of servers.
The cloud hosts 67% of the enterprise infrastructure, but only a few businesses use it for Big Data operations.
- Unstructured data accounts for 80-90% of all the data generated today.
Big Data facts reveals that consumers today want the same great experience with brands. They expect the same high-quality experience regardless of what device they use.
One can reach a company via social media by using a computer, browsing the website on mobile, and purchasing. Another way is to contact customer service via email. All data come from the same person but in different forms.
Big Data Industry Statistics
Some industries are big on Big Data while others are still small. Let’s find out which industries are the most important investors.
- By 2025, the market for Big Data analytics in banking could reach $62.10 million
Source: Soccer Nurds
Statistics on Big Data in Banking show that the global banking industry is already integrating Big Data analytics into their infrastructure, and this is happening quickly.
A staggering 64% of global financial institutions had already integrated Big Data as part of their infrastructure by 2013.
The industry reached $12 billion in market value by 2015
Fast forward to 2019, the Big Data banking analytics market had reached $29.87 Billion. It was expected to grow at 12.97% between 2020-2025.
Banks worldwide can use data to improve customer service, create personalized offers for customers and manage risk better. These factors can lead to improved performance across the entire global banking sector.
- By 2025, the market for Big Data analytics in healthcare may be worth $67.82 million.
Source: Globe News Wire
Healthcare is one industry that generates a lot of data every day. Healthcare professionals can deal with more information about a diagnosis the faster they collect it.
Big Data can help to:
Individuals will see a reduction in healthcare costs
Healthcare professionals have better treatment capabilities
Preventable diseases can be prevented by effective prevention
Prediction of epidemic outbreaks
A better quality of life.
Statistics on Big Data in Healthcare show that the global Big Data market for healthcare analytics valued over $14.7 billion in 2018. It was worth $22.6 billion by the end of 2019 and is expected to increase by around 20%.
- Big data stats show that cyber-scams rose 400% since the pandemic outbreak.
Source: Reed Smith
Cybercriminals are without a doubt, ruthless.
They are taking advantage of the panic that has erupted due to the pandemic to fleece people. Security experts have discovered a lot of scams that ask for money from desperate individuals in return for vaccines or COVID-19 treatments.
Malware installations are most common in the manufacturing, pharmaceutical, as well as healthcare sectors. Threat groups such as TA505 are the most prominent threat groups.
Individual users and corporate heads must be aware of the fake information available on the Internet and take the appropriate data protection precautions.
General Big Data Statistics
Let’s get into the details now that we know the industry’s most recent data.
- By 2025, data creation will reach more than 180 gigabytes.
Statistics on data growth show that data will exceed 180 gigabytes by 2025. This will be 118.8 times more than 2020.
The pandemic has caused a surge in remote learning, work, and entertainment.
The Compound Annual Growth Rate of (CAGR), 19.2%, will increase the storage for this data during the forecast period. This is a significant change, considering that only 2% of data was stored by users in 2020.
- Between 2010 and 2020, data interactions increased by 5000%
Big data stats reveal that data usage increased by 5000% in 2010-2020. Data usage grew from 1.2 trillion gigabytes up to nearly 60 trillion gigabytes.
This was due to more companies adopting work-from-home environments. This shift was due to the increased demand for richer data such as videos during virtual meetings.
- It would take an average of 181 million years for all data to be downloaded from the Internet.
Source: Unicorn Insights
Unicorn Insights has some interesting information on big data. They answered how long it would take to download all of the data from the Internet. Source used the following numbers: 0.55 zettabytes of information, 44Mbps average download speed. We redid the calculation using 33 zettabytes and an average download speed 46Mbps, as these big data statistics have been updated. We got a result of 181.3 million years. Impressive, right?
- Only 0.5% of data was analyzed in 2012
Source: The Guardian
Without being tagged and analyzed, the vast amount of big data is worthless. The question is, how much data? IDC’s Digital Universe Study 2012 shows that only 0.5% of data has been analyzed. However, 3% of the data is tagged. We discovered that not all data could bring value.
The Economist declared that 2017 was the year data overtook oil as the most valuable resource globally. Many sources compared data to oil, but they failed to mention the main difference. Data is much more accessible than oil and can be extracted quickly. Unlike oil, data can be used multiple times to gain new insights. We can draw a comparison between oil and data and conclude that it is important to store and collect as much data as we can. But, if we do this without tagging and analyzing the data, it will have a much lower value than oil.
According to IDC big data statistics, only 22% of the data was analyzed in 2012. This includes data from many fields, such as entertainment, surveillance, and social media. According to the same source, by 2020, 37% of useful data (i.e., information that can be analyzed) would have been achieved.
- Internet users create 2.5 trillion bytes of data every day.
Source: Data Never Sleeps, 5.0
We have to ask ourselves how much of that data was created by us, given the 40 zettabytes, we estimated. How much data are we creating every day? 2.5 quintillion bytes. This number may seem high, but it doesn’t seem that big when we compare it to zettabytes (i.e., 0.125 zettabytes). We are generating data at an accelerated pace when we consider the fact that we will have 40 zettabytes by 2021.
There are many ways to view the data generated every day. 2.5 quintillion bytes equals 100 times the number of ants on the earth. Furthermore, one quintillion pennies could be used to cover 1.5 times the surface of the Earth. Five times with 2.5 quintillion pennies. It is amazing what we can learn about big data facts and numbers. We found 2018 to be quite fascinating big data-wise. We expect 2019 will be as interesting and data-rich.
- Internet users have spent over 1.2 billion years online.
Imagine how much data internet users can create in one million years. Or even 1.2 billion years.
Let’s now explain how we arrived at this conclusion. There are 4.39 billion internet users. According to the Digital report, internet users spent 6.39 billion minutes online. This clearly shows the rapid growth of big data. If each of the 4.39billion internet users spent 6 hours, 42 minutes online every day, that’s 1.2 billion years.
- Social media is responsible for 33% of total internet time.
Source: Global Web Index
Before we get into the numbers of how users use Twitter and Facebook to generate data, we want to first show you the general usage of social media. Global Web Index published an article on the average number of social accounts. We were able to find some interesting statistics on social media big data by comparing the number of accounts over the years. In 2012, the average number of social media accounts was three, while today, it is seven.
Users’ average time spent on social media platforms has also seen a significant rise, despite the popularity of multi-networking. Digital users used social media to fill their time for an hour and a quarter in 2012, while the average time spent on social media is now 2 hours and 24 minutes.
The same source also found that 33% of digital users spend their time online on social media. This is a major reason why data growth statistics are as they are today. Apart from social media, 16% goes to online streaming and TV, while 16% goes to music streaming. Online media takes up 13% of all online time. The remaining 22% is reserved for other online activities.
- There are 2.80 Billion active Facebook users each month.
Facebook big data statistics reveal that almost three billion people are active on Facebook every month. This is nearly half a million more than in 2019, and a significant increase on 2012’s two-billion.
The giant social networking site is used by approximately 1.8 billion people daily. This data includes WhatsApp Messenger, Instagram, Facebook, and Messenger.
Digital marketers cannot ignore this site. It has a large user base and useful tools such as pages or groups, which make it easy to sell.
- Twitter users send more than half a million tweets per minute.
Source: Live Internet Stats and Domo
Facebook’s statistics on internet data usage are just the tip of the iceberg. Domo’s Data Never Sleeps 6.0 Report provides insights into Twitter user activity. The average number of tweets per second increased from 456,000 in 2017 to 473,400 by 2018, and finally to 528.780 in 2020.
We also checked the Live Internet stats for how many tweets were sent in a given year. In less than 1.5 months, Twitter users have sent over 30 billion tweets. The numbers that we have today are a testament to how far this social network has come over the years, considering it took Twitter three years to reach the billionth Tweet.
Twitter is also one of the largest companies that use big data and artificial Intelligence. Twitter statistics and facts show that the social media network uses AI for image cropping and to prevent inappropriate content.
- 97.2% invest in big data and AI.
Source: New Vantage
New Vantage’s Executives Survey was published with a focus on big data, artificial intelligence, and other areas. The study gathered responses from 60 Fortune 1000 companies, including Motorola, American Express, and NASDAQ. The New Vantage study not only showed a strong presence for big data in top companies but also answered the question, “How much do companies spend on data analysis?” Here’s what we found.
Participants said that 62.5% had appointed a Chief Information Officer (CDO) for their organization, a fivefold increase from 2012’s 12%. A record number of participants in the study invested in big data initiatives and artificial intelligence at 97.2%. The lowest percentage of companies (60.3%) invested less than $50 million. Nearly one-third of participants (27%) stated that their cumulative investments in big data and AI fell within the $50 million to $550 million range. Only 12.7% of participants claimed that their companies had invested more than $500m.
Is big data the future of business? This question could be answered if we look at the big data investments made by companies like Goldman Sachs and IBM.
- Netflix can save $1 billion annually on customer retention by using big data
(Source: Statista, Inside Big Data)
Many companies today use big data to grow and improve their businesses. Netflix is an excellent example. Netflix, the streaming service loved by digital users, had more than 180,000,000 subscribers in 2020. The California-based company is now able to answer the question: What are the benefits of big data? One of the many benefits of big data in streaming services is customer retention due to lower cancellation rates. Netflix has a strategy that ties its audience to their seats. Big data is an important part of that strategy.
Netflix also collects ratings and information about re-watched programs. Netflix uses this data to provide personalized recommendations to its users, such as showing them similar videos or suggesting titles that are related to what they have already seen. We must admit that Netflix’s “Continue Watching” feature greatly improves the user experience.
According to various big data statistics, we discovered that Netflix had spent $1 million to improve its recommendation algorithm in 2009. Even more amazing is the fact that in 2015, Netflix’s technology and development budget was $651 million. The budget was $1.3 billion in 2018.
The $1 billion savings that customer retention can bring was a rough estimate made by Carlos Uribe Gomez and Neil Hunt in 2016. This number is likely to be significantly higher as Netflix spent more than $12 billion on content in 2018 and $17 billion in 2020, among other reasons.
- What is the value of big data and analytics? Wikibon estimates that the market is worth $49 billion.
Although we’ve already discussed how Netflix has benefited from big data, that’s just the beginning. Because it can detect patterns and consumer trends and improve decision-making, big data has found its way into many industries. The question now is: How much does the big data industry worth? And what are the prospects for the next few years? These questions were answered in their 2018 Big Data Analytics Trends & Forecast Wikibon.
How much does big data really cost? Wikibon estimates that the big data analytics (BDA) market will reach $49 billion, with an 11% compounded annual growth rate. According to Wikibon, each year, the market will grow by $7 billion. This forecast predicts that the BDA market will reach $103 billion in 2023.
- The big data market grew 14% in 2020.
Statista’s global data market forecast revealed that big data experienced the highest growth rates in 2012 (61%) and 2013 (60%). Big data market growth statistics showed that 2018 saw a 20% increase in the big data market, while 2019 saw a 17% growth. Statista points to a decrease in market growth over time and a potential 7% drop between 2025 and 2027.
- By 2020, there will be 2.7 million data science and analysis jobs.
The lack of analytical skills is one of the greatest problems in big data. It is clear from the data growth statistics that not enough people are qualified to work with large data. RJMetrics estimates that there were approximately 11,400 to 19,400 data scientists in the world in 2015. McKinsey estimated that there would be approximately a 2.8million people with analytical skills in 2018. However, McKinsey predicted that the number of data science and analysis jobs would reach 2.7 million by 2020. There is a huge gap in demand for data science and analytics talent.
- 2020: Every person created 1.7 megabytes per second.
Assuming that Domo’s big data growth calculations are correct, each person on the planet created 146,880GB per day. It’s easy for us to see that the daily data generated by the world’s 8 billion population will increase dramatically. IDC predicts that by 2025, we will have 165 zettabytes of data per year.
Let’s now look at 2020 technology predictions and future trends in big data.
- Big data requires automated analytics.
Source: Flat World Solutions
One prediction in big data is that automation of processes behind frameworks like Spark and Hadoop will become a reality in less than a year. Smart wearables are another prediction that will accelerate big data growth. Machine learning will continue to improve in the near future. Combining machine learning with data analytics will create predictive models that can forecast the future with a higher level of accuracy. Flat World Solutions estimates that businesses can earn $430 billion if they adopted a data-driven strategy in 2020.
We are pleased that we were able to locate some of the most compelling big data statistics. The key takeaway from this topic is that the big data market continues to grow, and we can get more information every day. It is not about collecting the most data but extracting value from it.
Big Data Trends
Let’s look at the statistics regarding Big Data trends to see what the future holds.
- By 2025, the number of IoT devices will reach 41.6 billion.
Each second, 127 devices are connected to the Internet around the globe. These devices generate five quintillion bits of data each day, which could be 79.4 Zettabytes by 2025.
IoT devices can perform different functions depending on their purpose and what kind of information they collect. The IoT can help industries improve their functionality and expand their market reach, from fitness devices to sensors and security systems.
- In 2022, the global spending on Big Data analytics solutions is expected to exceed $274.3 billion.
Source: Business Wire
According to Big Data in Business statistics, digital transformation and technological advances remain the main drivers of higher Big Data spending. Businesses must continue to innovate in order to remain competitive in an industry with so much competition. Big Data analytics provides industry professionals the information to make informed business decisions. These analytics can help a company move forward by accurately identifying market trends that could potentially increase business revenue.
At the end of 2019, global spending on Big Data had already reached $180 billion. This figure is expected to rise at a CAGR of 13.2% between 2020-2022. According to reports, IT purchases, hardware, and business services could be the most significant Big Data analytics spending sources.
- By 2024, the ratio of unique and duplicated data will be 1:10
In 2020, this ratio was 1:19.
COVID-19 makes it more difficult to create unique data. The global data sphere will see growth in copying and consumption over the next few years. It will grow by 26% annually in 2024.
- Data science jobs are expected to increase by 28% by 2026.
(Source: Towards Data Science)
According to the 2021 technology predictions, data science jobs will grow by almost 30% by 2026. This is 11.5 million additional jobs! These new jobs will fill the gap in the supply of professionals in a high-demand sector.
Big Data will remain a powerful force in the digital age. Industry experts and big brands know this. It is a competitive advantage that business leaders can tap into to stay ahead of their competition in the long term. Don’t hesitate, act!