Big data is big news. Everyday a wealth of digital information is generated by people around the world through emails, blogs, social media posts, online credit card purchases, cell phone usage, and more. According to IBM, 2.5 quintillion bytes of data are generated daily. And 90 percent of the total data in existence was created within the last two years.
Todd Taylor, NetStandard’s Vice President of Hosted Technology, explained at IBM Edge2013 how this remarkable data growth offers businesses unlimited possibilities. “Business data will paint a true picture of business performance that goes beyond profit and loss statements…to display real-time performance in a global economy.” This information can then be translated into improved marketing, tailored services, and cost savings.
While many large businesses have invested in big data technology, small businesses have been slow to take part. Taylor explains that while big data technologies might not seem appealing for businesses with limited resources, it is better for businesses to invest in analytics now, before their big data grows to unmanageable proportions. Not only that, but big data is more accessible than ever, thanks to a rise in cost-effective big data technologies. In addition to the well known