They call it 'big data' for a reason-it's really, really big. But getting your head wrapped around the growth of information digitization is not easy.
Alex Woodie notes in datanami
"That's why we carefully curated these 10 mind-blowing facts about today's data-geist, and how it's projected to grow in the future.
1. The Global Datasphere will grow from 33 Zettabytes (ZB) in 2018 to 175 ZB by 2025, a 26% annual compound growth rate (CAGR), per IDC's DataAge 2025 report. However, only about 9ZB of that data will actually be stored, up from about 0.9ZB in 2015. Only about one-third of the data that's stored will actually be used, the analyst group says..."
These ETL tools feature advanced data integration capabilities that can help enterprises prepare data for analytics.
Cynthia Harvey and James Maguire writes in
"Today's ETL tools play a key role in today's data-driven enterprises. Every major big data analytics project requires collecting data from disparate sources, getting it into the right format and then loading it back into the analytics software. So it's no surprise that ETL, short for 'Extract, Transform, Load' is used daily.
This ETL process can be a major headache for enterprises. In one Forrester report, customers said that up to 80 percent of their data warehouse workloads were ETL jobs. In addition to consuming valuable computing resources, this work also requires a lot of time on the part of business analysts and highly paid data scientists. As a result, both enterprises and vendors have been looking for ways to streamline and simplify the ETL process..."
Jerry DiMaso, CEO and co-founder of Knarr Analytics, discusses how effective analytics has become such a determinative factor that it's now evident that those who master it will thrive. However, the journey toward that goal isn't without obstacles. What are the most common data analytics challenges and how can companies confidently confront them?
"In 2013, McKinsey's director Tim McGuire said: 'Analytics will define the difference between the losers and winners going forward,' and he certainly wasn't wrong. Since then, we have seen companies across the board leverage data capabilities to execute smarter decisions, drive accountability, improve their financial health, and keep a closer eye on their performance.
According to a recent study, the data analytics market is expected to grow at an annual growth rate of 30% until 2023, reaching $77.6 billion in annual spend. Such numbers show just how important data capabilities have become, hinting at a future where embracing digital business without data will be simply impossible..." - insideBIGDATA
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