Big data deals with enormous sets of data from different sources. These data sets can’t be collected, processed, and stored by utilizing any existing tools due to their complicated nature and large quantities.
There are special tools to assess and examine these big data stats. The most popular of these tools are NoSQL databases, Spark, and Hadoop.
These tools allow you to gather various data types from multiple sources like web services, digital media, machine log data business apps, etc.
Here we’ll highlight some awesome statistics associated with big data and learn about its importance in the current world.
Let’s dive in.
Quick Big Data Statistics
- Google receives more than 3.5 billion searches every day
- 100 billion messages are exchanged on WhatsApp every day
- 95% of businesses struggle to manage unstructured data
- 80% of data is unstructured
- Big data in healthcare worth $67 billion by 2025
- Data interactions have increased by 5000%
- More than 1.2 billion years have been spent online
Why Is Big Data So Important?
Big data, after being assessed and analyzed, assists in different ways. For example, it can help avoid diseases that can be prevented earlier in the healthcare sector.
In addition, with big data in banking, illegal activities like money laundering can be identified.
And in the IT field, it can help us study global warming. Here are some quick facts to further establish the importance of big data in the modern world.
- The big data analytics market is set to reach a whopping $103 billion by the year 2027.
- Due to poor data quality, the US economy suffers approximately $3.1 trillion annually.
- Internet users these days generate 2.5 quintillion bytes of data each day.
- In the year 2020 alone, each internet user has generated 1.7MB of data per second.
- 95 percent of businesses mentioned that managing unstructured data is a significant problem.
- More than 91 percent of organizations are investing in artificial intelligence and big data today.
- With the help of big data, Netflix saves over $1 billion annually with customer retention.
2021 Big Data Stats
After going through the above statistics briefly, you might say that big data is the new gold. But is it? Let’s find out some more critical stats about big data.
- Google Inc gets more than 3.5 billion searches per day
Google Inc has the highest market share when it comes to the search engine market. In 2021, more than 90 percent of the global searches will occur on this website.
Another fascinating stat here is that over 15 percent of all these searches are entirely new and have never been asked for before.
Therefore, there is no case of repetition, and more unique data sets are generated daily on Google.
- Whatsapp users exchange over 100 billion messages daily
Whatsapp is a famous messaging app, and its popularity is unparalleled. It is the most downloaded app in the world.
Furthermore, five million businesses across the globe are using the business version of this application to stay in touch with their customers. Moreover, there are over one billion Whatsapp groups across the globe.
- Every person-generated 1.7MB of data per second in 2020 alone
Even before big data was transformed into a full-fledged idea, companies across the globe were storing loads and loads of information within their databases. But they never knew what they could do with that information.
As per the stats, poor data management costs $9.7 million to $14.2 million annually. This cost can rise into a trillion for countries like the US that are data-driven.
Due to the poor stat quality, wrong business strategies can be made, leading to poor decision-making.
This can ultimately result in low productivity and can also develop mistrust between the brand and its customers. Ultimately the company will have to lose its market reputation
- Over 95 percent of businesses think that managing unstructured data is their primary problem
(Source: Data Ideology)
Companies must navigate the markets properly. And for that, they need to tap into that unstructured data present in their databases completely unmanaged.
This data can help these companies forecast the future and assess the current market trends to predict what will come.
Only 3 percent of the companies have been able to act on the information acquired from big data fully. At the same time, 21 percent of businesses say that they can only act on this data on a very small scale.
- 45% of the global businesses are operating at least a single significant data workload on cloud
The stats concerning big data on the cloud are very encouraging too. Cloud is the most recent technology that is gaining momentum across the globe.
This is because companies don’t need to purchase and maintain that costly computer hardware. Instead, they can pay for hosting and can use a software program to handle daily operations.
94 percent of the enterprises have turned to the cloud, and 30 percent of IT budgets are allocated to this too. But there is not a big percentage of companies currently using their cloud for different big data operations.
- Over 80 percent of data generated today is unstructured
In the modern world, consumers prefer having a truly personalized experience with a brand. They don’t care about the device they are using. Their expectations are always the same.
One consumer can get in touch with a brand using social media on their PC. Then they might surf the website on their smartphone and then make a purchase using a tab.
For reaching out to customer support, they might use email or phone. All this data is coming from a single person, but this data has different forms.
This is a lot of data coming from a single source, and it remains unstructured. Yet, this is the data that companies need to tap into and get more insight into their customer behavior.
Industry Statistics Associated with Big Data
Some industries might have gone all the way with big data, while others are still reluctant to.
So, let’s find out some of the most prominent big data stats in different industries.
- Big data can go up and over $62 billion in banking by 2025
Big data stats are very positive in the banking sector. The global banking sector is already adopting big data and integrating it into its infrastructure.
With the data collected by banks across the globe, their services to customers can be improved.
For example, bankers will be able to create more personalized offers to their customers, and they can also manage risks in a better way. So overall performance will be significantly improved.
- Big data analytics in healthcare can be worth over $67 billion by the year 2025
Healthcare is another industry that produces a lot of data daily. With more data produced doing a specific diagnosis, it becomes simpler for the industry professionals to deal with them.
With big data, the healthcare sector can reduce costs for individuals and provide them with better treatment facilities.
Big data can also help in avoiding any preventable diseases along with predictions of any outbreaks.
- Big data states that cyber scams have increased by 400% since the beginning of the pandemic
At the end of 2019, the pandemic struck and shook the world. And since that time, cyber scams have increased significantly. Big data stats state that cyber scams have increased by 400 percent since the end of 2019.
These cybercriminals have been ripping off people due to the arising confusion caused by the pandemic.
Some have also been involved in tons of scams that include asking for money in exchange for COVID cures and vaccines.
Even the Email scams associated with the pandemic have increased by 667% since March 2020.
More General Big Data Stats
Let’s go deeper into big data now you understand how it affects different industries and what is it all about and check out some more stats.
- Data development will increase by up to 180 ZB by the year 2025
Now, that is a lot of data, and it will be about 118.8 ZB more than what was produced in 2020. So, it’s all going to grow at a staggering petty rate.
This has happened due to the pandemic. More and more people spend time online doing their remote work, learning, or entertainment in this era.
The storage for all this data will also increase at 19.2% CAGR. This is a massive change because, according to the stats, users only saved 2 percent of data in 2020.
- Data interactions have increased by 5000 percent
(Source: Alvarez & Marsal)
Data interactions involve the capture, creation, consumption, and copying of data. And it has gone skyrocketing in the past 10 years or so. It has increased by 5000 percent since 2010.
In other words, the data usage has increased from 1.2 trillion GB to over 60 trillion GB. This vast amount of change has occurred as companies have adopted WFH (work from home) business.
Models and work environments. The need for a richer data set for media like videos for those virtual meetings is the cause of this shift.
- All the data available on the internet can be downloaded in 181 million years
The data available on the internet is massive, and you can understand it with these bits of stats. It will take you over 181 million years to download all the data from the internet.
This is only achievable if you have an internet speed of 44 Mbps on average because we are talking about 0.55 ZB of data available on all of the internet.
But this information has changed too. The current numbers suggest that you will need an internet speed of 46 Mbps, and you will have to download 33 ZB of data from the whole of the internet. It will complete in over 181 million years,
- Only 0.5 percent of data was assessed in 2012
(Source: The Guardian)
The massive amount of data will not be of any value unless it is assessed and tagged. According to the source, a study conducted by IDC in 2012 stated that only 0.5% of the data had been analyzed.
However, tagged dates are slightly higher at 3%. But research has proved that not all data has enough worth to bring value.
- Users tend to produce over 2.5 quintillion bytes of data daily
In 2020, the estimated amount of data that we had on the internet was 40 ZB. So how much data is generated each day, and its 2.5 quintillion bytes? Now, this might be a high amount of data. But if you convert it to ZB, it’s just 0.0025 ZB, which doesn’t seem much.
- Internet users have spent over 1.2 billion years online in total
There are more than 4.3 billion internet users, and according to the reports, they spend about 6 hours & 42 minutes on the internet.
This goes to show the development of big data. Each of the 4.3 billion users using the internet in 6 hours and 42 minutes will mean that we have used up 1.2 billion years online.
- Social media accounts for 33 percent of total online time
Spending time on social media is the most favorite activity for most of the internet users out there. In 2012 special media users had three social accounts, and their number has increased to seven in 2021.
- Facebook has around 2.9 billion active users monthly
When you look at Facebook’s big data stats, you will see that they have almost three billion monthly active users per month.
This number has increased by half a billion in 2019. In addition, it has a significant increase from 2 billion in 2012.
Facebook has over 1.8 billion daily users, and this data includes the Facebook app, Instagram app, Messenger app, and Whatsapp. And this is why digital marketers can’t just write this social media giant off.
- Twitter users tweet over half a million times per minute
(Source: Internet Live Stats)
What you have just heard about Facebook is only the tip of the iceberg. Internet Live Stats will tell you more about the data from Twitter, another social media giant.
For example, the number of tweets has significantly increased over the years.
Over half a million tweets go live per minute on this platform. And this number has been steadily increasing for the previous years.
If you look at the past data, you will notice that Twitter users have sent more than 30 billion tweets in the past 1.5 months.
- Over 97 percent of organizations are going for big data now
Companies have started to realize that big data is the next big thing, investing heavily in it. Over 62% of the Fortune 1000 companies have hired Chief Data Officers.
This number has skyrocketed from 2012, which was 12 percent. So, over 60% of organizations have invested over 50 million in big data.
But over 12 percent have also mentioned that they have invested over $500 million in big data.
- Netflix saves over $1 billion annually thanks to big data
Many companies use big data to improve their operations and sales, and Netflix is one of them. This streaming service had more than 180 million subscribers in 2020.
Netflix collects data from searches, rewatched programs, and ratings.
This data allows them to provide their users with personalized recommendations. Netflix spent more than $12 billion on content in 2018, and the number increased to $17 billion in 2020.
- Big data market worth is $49 billion
With the help of big data, you can assess different trends and patterns and improve your organization’s decision-making. It means that it is going to influence your overall productivity directly.
As it’s a valuable asset, its industry worth is up to $49 billion, increasing in the coming years. According to the reported numbers, this number is going to reach $103 billion by 2023.
- The big market is going to grow by 14 percent till 2027
The biggest growth in big data came in 2012, which was 61%, and since then, it has been growing consistently, but the growth rate is declining too.
So it goes to show that the field is maturing. But according to estimates, this growth will continue till 2027, and from there, it will start to grow at a much slower pace.
- Big data job listings reached 2.7 billion in 2020
(Source: UW – Data Science)
The jobs available in the field of data science reached 2.7 billion. This number shows that the field is in a huge trend, and the individuals with these skills make their organizations data-driven.
- Automated analytics are critical to big data
With automated analytics and integrated machine learning, big data is going to grow even further. With the data-driven approach, their scenes of success are even higher for an organization.
- IoT devices will increase by 2025
With each second, more and more IoT devices begin to connect. These devices produce around 5 quintillion bytes if dated daily.
This date can amount to up to 79.4 ZB by 2025. With these devices, more data is being added, and it can allow industries to improve their functionality and reach their market with a better approach.
- Global spending on big data will be worth over $274.3 billion in 2022
But, of course, this will go together with digital transformation, too, like other technological advancements.
Data-driven approaches allow individuals and businesses to watch past trends to predict the future closely.
This is where big data comes in, and so much is still left to be done because most companies haven’t even gone for a full-fledged data-driven model.
But they have started to realize that this is a golden opportunity for them to explore.