We’re all continually learning everyday, in fact the ability to learn and grow is one of the things that makes us human.
Technology has impacted the way this happens, and has changed the way we’ll learn forever. Not to mention, it’s estimated that by 2029, humans will have developed a computer that will be smarter than all of us put together, and artificial intelligence is going to be one of the biggest disrupters that any of us will ever experience in our lives.
Big data is becoming one of the most talked about buzzwords of 2017, and it’s easy to see why. This term describes the collection of large and complex data sets that can’t be analysed, searched, stored, or processed with conventional data base systems, and the uses of big data are shaping our world around us, giving everyone more incredible insights into our everyday lives.
Every day, approximately 2.5 quintillion bytes of data are created. No idea what a quintillion is? That would fill up 10 million blue-ray discs, and if all of these discs were stacked, they would be the equivalent of four Eiffel towers.
90% of the data that currently exists was only created within the last two years. And the amount of data stored continues to grow at unprecedented rates. The data stored is growing 4x faster than the economy of the world, and the quantity of the data available allows us to take a more qualitative approach, particularly for businesses focusing on servicing customers. This data gives us a complete, 360º view of customers, allows merchants and customers to engage in conversations, and (as you’ve probably already experienced), allows these companies to display ads that have been personalised for specific customers.
In 2013, the global internet traffic was around 51 billion gigabytes of big data. And the number of people online grew more than 14% between 2011 and 2013. In 1960, the world’s population was 3 billion. This is now the number of people who have access to the internet.
Two key things to consider include velocity, which is the increasing speed at which this data is being created, along with the speed that it can be processed, stored, and analysed, and variety, which is structured and unstructured data, including log files, click streams, video, audio, text, and more.
Every single minute, more than 204,000,000 email are being sent around the world.12 hours worth of footage is being uploaded to YouTube, more than 277,000 tweets are sent out into the world, and more than 216,000 Instagram posts are filling up the ‘gram’.
More importantly, big data is changing the way we learn and grow. We’re all beginning to track our eating, moods, sleep, fertility, and emotional and physical health, with apps available on our smartphone or on our electronic notebook. Big data is matching market offers with the individual habits and needs of consumers, and it’s also allowing consumers to save money as shops tailor coupons directly for customers.
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