Big Data Factoids

Intel Corporation estimates that the world generates 1 petabyte (1,000 terabytes) of data every 11 seconds or the equivalent of 13 years of HD (high-definition) video. 

Research firm International Data Corp. (IDC) estimated that in 2011, all of the data created in the world amounted to 1.6 trillion gigabytes. By 2020, 50 billion devices will be connected to networks and the Internet.

The proliferation of devices such as PCs and smartphones worldwide increased Internet access within emerging markets and the boost in data from machines such as surveillance cameras or smart meters has contributed to the doubling of the digital universe within the past two years alone—to a mammoth 2.8 ZB (zettabytes), according to a December report titled “IDC Digital Universe”, which was sponsored by EMC Corp.

IDC projects that the digital data will reach 40 ZB by 2020, an amount that exceeds previous forecasts by 14%. There are

 700,500,000,000,000,000,000 grains of sand on all the beaches on earth, which means 40 ZB is equal to 57 times the amount of all the grains of sand on all the beaches on earth. In 2020, 40 ZB will be 5,247 GB per person worldwide, the report said, adding that by 2020, emerging markets will supplant the developed world as the main producer of the world’s data.

In 2006, market researcher Clive Humby declared data “the new oil” as a description of big data’s potential.

In a May 2011 paper, the McKinsey Global Institute (MGI) forecast the use of big data would become a key basis of competition and growth for individual firms, even as it acknowledged that policies related to privacy, security, intellectual property, and even liability will need to be addressed in a big data world.

In the developed economies of Europe, government administrators could save more than €100 billion ($149 billion) in operational efficiency improvements alone by using big data, not including using big data to reduce fraud and errors and boost the collection of tax revenues. And users of services enabled by personal-location data could capture $600 billion in consumer surplus.

According to a Cisco report in June 2012, big data solutions could help reduce traffic jams or even eliminate them with predictive, realtime analysis on traffic flows, feeding immediate changes to traffic signals, digital signs, and routing, before backups begin. Paper receipts from retailers and banks that clutter one’s wallet could be replaced by electronic records. Businesses could enrich these records through contextual and comparative information. Individuals could manage, share, monetize, and utilize the data through, for example, budget management and health advice applications, noted the report.

As of early 2012, the big data market stood at just over $5 billion based on related software, hardware, and services revenue, according to market research firm Wikibon. The total big data market reached $11.4 billion in 2012, ahead of Wikibon’s 2011 forecast. The big data market is projected to reach $18.1 billion in 2013, an annual growth of 61%. This puts it on pace to exceed $47 billion by 2017, the report said.

In 2012, the top 10 vendors by revenue in the big data segment comprised IBM, HP, Teradata Corp., Dell Inc., Oracle Corp., SAP AG, EMC Corp., Cisco Systems Inc., Microsoft Corp. and Accenture Plc.

According to the Cisco Visual Networking Index Global Mobile Data Traffic Forecast for 2012 to 2017, there will be more than 1.7 billion machine-to-machine connections by 2017.

On 5 June, Gartner said big data will grow past its hype towards 2016 to become “just data” once the technologies mature, and organizations learn how to deal with it. “The bottom line is that not all information requires a big data approach,” said Frank Buytendijk, research vice-president at Gartner. “The new “big data way’ is not going to replace all other forms of information management. There is more room—and need—for experimentation in the area of “information of innovation”, for instance, with social media data, or by making processes more information-centric.”

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