According to a report from IBM Marketing Cloud, “10 Key Marketing Trends For 2017,” 90% of the data in the world today has been created in the last two years alone, at 2.5 quintillion bytes of data a day!
Big is getting Bigger
Constant connectivity and smart devices are leading to the digitization and datafication of our daily activities.
This is what many people are predicting
- Exponential data growth toward 2020 and beyond.
- The size of the digital universe will double every two years at least – a 50-fold growth from 2010 to 2020.
Human- and machine-generated data is experiencing an overall 10x faster growth rate than traditional business data, and machine data is increasing even more rapidly at 50x that growth rate.
There are many sources that predict exponential data growth toward 2020 and beyond.
The digital ‘Superpowers’
Big Data, fueled by the Internet of things (IoT) is powerful on its own and so is artificial intelligence, but together they are the perfect superhero team.
The more the IoT grows, the more demands are placed on Big Data capabilities, and vice versa…
IoT and Big Data – helping each other grow:
- IoT data is nearly helpless without fast and powerful analytics to make the data useful and actionable.
- Big data analytics strengths become more pronounced in the presence of multi-dimensional data, which IoT is generating.
While Big Data and AI provide the perfect synergy:
- AI needs Big Data for meaningful results – Many AI technologies have been in existence for several decades and are now able to take advantage of datasets of sufficient size to provide meaningful results.
- AI resolves Big Data analytics issue – Swapnadeep Nayak, research analyst at Frost and Sullivan TechVision, says: “Advancements in artificial intelligence in recent years are enabling developers to uncover the hidden relationship between data, thereby significantly facilitating data analytics processes… and resolving big data performance issues.” Source: Why the convergence of the IoT, big data and AI will drive the next generation of applications
Summary
The results of Big Data analysis enables us to take more real-time actions to improve customer experience in the digital universe. We can achieve this by combining three essential future technologies:
Read more: Reasons Data is King of the Digital Jungle