Data Analytics is a vital tool for the future of our society and economy, and it is essential to gain knowledge and expertise about the technology before making any decisions or investments. Keep reading to know Facts about Data Analytics!
Data Analytics Facts: Data analytics are all around us, shaping our lives in a variety of ways. From the automated marketing ads tailored to your interests when you’re online shopping, to even the way healthcare providers diagnose illnesses and track patient progress – data analytics are increasingly becoming a fundamental part of today’s society.Â
But did you know there are some amazing facts about data that may surprise and inspire you? Discover five incredible Data Analytics Facts about this rapidly growing field from our experts here at PW!Â
Learn what sets data apart from other fields, which advances have been made possible by data analytics studies and why more people should consider pursuing it in their career. Get ready for mind-blowing revelations into the world of data analysis!
A great place to start is with the online course Mastering Full Stack Data Analytics by Physics Wallah. With its systematic approach to designing and delivering effective solutions in data analytics, this course provides easy access to comprehensive resources for even the most novice users. Furthermore, their inventive practice centers bring data initiatives to life through interactive exercises encouraging creativity and hands-on experimentation.Â
Also read:Â 6 Benefits of Data Analytics That Will Blow Your Mind!
Facts About Data Analytics
Here are some data analytics facts:
1) 2,500,000,000,000,000,000 Bytes of data are created every day
In the current digital era, data is sourced from diverse channels like social media, online transactions, and device sensors, resulting in a staggering daily generation of 2.5 quintillion bytes. This immense quantity, equivalent to 2,500,000,000,000,000,000 bytes, underscores the substantial and increasing volume of information produced and stored daily.
2) Netflix is a devoted follower of data analysis.
The emphasis on utilizing data analytics is strong at Netflix. Predictive analytics, a field employing current and past data for predictions through data mining and machine learning, helps companies understand customers, identify risks, and spot opportunities.Â
Machine learning algorithms increasingly extract insights from the vast daily data generated. The insights gained are then utilized in prescriptive analytics to guide actions and strategies. Netflix annually uses big data to save $1 billion in customer retention.
3) Internet Data Download Challenge
The vastness of the internet’s data repository is highlighted by downloading all its data, which would take an estimated 181 million years. This showcases the continuous generation, updating, and addition of various digital content forms such as text, images, and videos.
4) Every human created approximately 1.7 MB of data per second in the previous year.
Human activity significantly contributes to the growing pool of data available for analysis. On average, every second, an individual generates 1.7 megabytes of information. This constant data generation continues to rise unabated due to the global population of over 3.7 billion internet users.
5) Data Explosion in Recent Years
Over the last two years, 90% of the world’s data has been generated. This surge, estimated at 2.5 quintillion bytes daily, has fueled a growing demand for data science and machine learning experts. Recognizing this need, top global institutions have introduced comprehensive programs to equip professionals with skills in data analytics, AI, and deep learning techniques.
Fun Facts About DataÂ
The table below shows the fun facts about data 2024:
| Fun Facts About Data | |
| Fact | Description |
| Search Queries | Approximately 40,000 search queries transpire every second on Google alone, culminating in 3.5 searches daily and a staggering 1.2 trillion searches annually. |
| Facebook Milestone | In August 2015, Facebook achieved a momentous milestone, with over 1 billion users engaging in a single day. Users on this platform exchange an average of 31.25 million messages and view 2.77 million videos every minute. |
| Video and Photo Explosion | Video and photo data experience explosive growth, with up to 300 hours of video uploaded to YouTube every minute. In 2015, a staggering 1 trillion photos were captured, and by 2017, nearly 80% of photos are expected to be taken on smartphones. |
| Smartphone Proliferation | Over 1.4 billion smartphones are anticipated to be shipped in the current year, equipped with sensors capable of extensive data collection. Global smartphone users are projected to surpass 6.1 billion by 2020, surpassing basic fixed phone subscriptions. |
| Smart Connected Devices | The world is on track to have over 50 billion smart connected devices within five years, designed to collect, analyze, and share data, contributing to the exponential growth in data volume. |
| Cloud Computing | Projections indicate that by 2020, at least a third of all data will traverse the cloud. Distributed computing, exemplified by Google’s use of a network of 1,000 computers to answer a single search query in 0.2 seconds, underscores the practicality of this approach. |
| Hadoop Market Growth | The Hadoop market, an open-source software for distributed computing, is forecasted to exhibit a robust compound annual growth rate of 58%, surpassing $1 billion by 2020. |
| White House Investment | Recognizing its significance, the White House has invested over $200 million in big data projects. |
| Big Data Adoption | A significant 73% of organizations have already invested or plan to invest in big data by 2016. |
| Untapped Data Potential | At present, less than 0.5% of all data undergoes analysis and utilization, underscoring the vast untapped potential in the data landscape. |
Mastering Full Stack Data Analytics by Physics Wallah is the best course to explore all these concepts in-depth. Don’t wait around – sign up today! Moreover, armed with knowledge about the five surprising facts about data analytics presented here, you will be in a better position to use this invaluable technology for yourself and your organization as you move forward. Data analytics may be complicated but it certainly holds great promise which we should continue to pursue!
Also read:Â Data Collection in Data Analytics 2023: Types, Tools, Steps
Facts About Data Collection
The table below shows facts about data collection:
| Facts About Data Collection | |
| Fact | Source |
| Google Drive is the most used cloud storage service, with 94.44% dominance globally. | Fortune Business Insights |
| It would take 181 million years to download all the data from the internet. | Org |
| 60% to 73% of data is often excluded from analytics purposes. | Forrester |
| Poor data quality incurs an annual cost of around 9.7 million USD for organizations. | Gartner |
| Big Data is projected to reach 273.4 billion USD by 2026. | MarketsandMarkets |
| Approximately 36% of organizations consider big data crucial for their business operations. | Dresner |
| Leveraging big data analytics in the retail industry could enhance profits by up to 60%. | McKinsey |
| A significant 97.2% of companies are investing in both AI and big data. | New Vantage Partners |
Also read:Â What Is Data Processing: Meaning, Cycle, Types, Examples
FAQs
What is data analytics?
Data analytics involves examining raw data to conclude the information it contains. It employs various techniques and processes to uncover patterns, correlations, trends, and insights.
What impact could a 10% increase in data accessibility have on Fortune 1000 companies?
A 10% increase in data accessibility can result in more than $65 million in extra net income for a typical Fortune 1000 company.
How much could retailers boost their operating margins through big data?
Retailers fully leveraging big data can potentially increase their operating margins by as much as 60%.
What percentage of organizations plan to invest in big data by 2016?
A substantial 73% of organizations have already invested or plan to support in big data by 2016.
What percentage of data is currently analyzed and used?
At present, less than 0.5% of all data is ever analyzed and utilized, showcasing the vast untapped potential within the data landscape.
