Big Data Analytics Provides a Financial Edge

Big Data Analytics Provides a Financial Edge

Big Data Analytics Provides a Financial Edge

Big Edge With Big Data  84% of companies that perform better financially than their competition are also ahead of their peers in data use.

From now through 2020, the digital universe will double every two years, according to research from IDC. By then, the total amount of digital data will equal 40,000 exabytes. To put that into context, a single exabyte is big enough to contain 50,000 years' worth of DVD-quality videos. Unfortunately, only a tiny fraction of the digital universe is being explored for analytic value, IDC reports. And, by 2020, as much of one-third of that data will contain information that would be considered valuable if it were analyzed. Apparently, high-performing companies are already well on their way to taking control of their big data assets to gain a greater competitive edge, according to a recent survey from the Economist Intelligence Unit. In fact, findings convey a direct correlation between companies that maintain a financial edge within their industry and their commitment to data analytics. And organizations in general now view data-related job duties as something to be shared across the board, as opposed to something left strictly to IT. More than 500 C-level and senior business executive worldwide took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.
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