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It is estimated that this figure will rise to 20 billion.
It is reported that the investments in 2023 are being distributed among the main companies in the data departments.
Knowing the consumer is becoming easier with the various tools that exist on the market and that cover the big data sector. Given this, a recent investigation highlighted that 74 percent of companies have increased their investment in data analysis during the last year.
Big Data is defined as the process that analyzes and interprets large volumes of data, both structured and unstructured. And it serves so that the data stored remotely can be used by companies as a basis for their decision making.
According to IEBS data, today, almost more than 7 billion devices share information over the Internet. Therefore, it is estimated that this figure will rise to 20 billion in 2025.
Another source, such as IDC, reports that the amount of data stored in the world is doubling every two years. Since the data explosion that we are witnessing is a consequence of the digital revolution and the great adoption by citizens and companies of tools and technologies such as social networks, mobile devices, geolocation, and objects and sensors connected to the Network – the Internet of Things.
Increase investment in data analysis
The data for this sector continues to grow, so within the framework of the 40th edition of E-SHOW Barcelona, an eCommerce, Digital Marketing, and Big Data & AI event, promoted by CloserStill Media, the figure that 74 percent of companies have increased their investment in data analytics in the past year.
Likewise, the data that emerged from the event highlights that 44 percent of those surveyed in the study have seen tangible benefits with an increase in income, while 25 percent have seen a reduction in costs.
In the investigation, it is shown that the investment in data from industries of any sector translates directly into their income statement, and this is confirmed by 75 percent of those surveyed in the study.
Following that data, top trends in data and analytics also emerged, as the research examines how investments in 2023 are spreading across the top companies in data departments and measures how the pace of analytics investment has evolved.
With these data, it is demonstrated how companies are using this sector of technology for the benefit of their companies, as an example, Netflix which, as of today, 80 percent of the content that is reproduced on the streaming platform comes from the system. of recommendations.
It is known that Netflix employs various traditional business intelligence tools (such as Teradata and MicroStrategy) and combines them with modern big data technologies such as Hadoop, Hive, etc. To get a result is an algorithm that predetermines the content that users are most likely to see.
Another well-known brand that uses the big data strategy is Apple, which uses it applied to behavioral economics, in order to extract conclusions about its user base and use them in its favor.
And this is how this data sector is an important currency in the activities that brands carry out to get to know their millions of users more and more closely.
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