Big Data is an infinite resource that plays an essential role in many activities of businesses. In healthcare, Big Data can help detect preventable diseases at an early stage. Data analysis also helps to uncover illegal activities in the banking sector, such as money laundering. In meteorology, Big Data can help experts study global warming.
And thanks to the development of cloud software, Big Data has since been applied more widely. Organizations can now monitor and analyze Big Data in real-time and make the necessary adjustments to business processes.
So how will Big Data develop in 2023? What Big Data trends will businesses need to embrace? Let's discover 8 remarkable Big Data statistics below!
Big Data has been applied more widely thanks to the development of cloud software
1. 45% of enterprises worldwide are running at least one Big Data workload in the cloud.
According to statistics, cloud computing is one of the latest technology trends taking the world by storm. It eliminates the need for organizations to purchase and maintain costly computer hardware but to pay for the hosting and development of the necessary software.
2. Big Data analytics market in banking will reach $62.10 billion by 2025.
(Source: KR Elixir)
Since 2013, 64% of financial institutions have already incorporated Big Data into their infrastructure. In 2015, the industry reached a market size of 12 billion USD.
In 2019, this figure reached 29.87 billion USD and was forecasted to grow at a CAGR of 12.97% in 2020-2025.
Data generated by banks worldwide can help improve service quality, create personalized customer experiences, and help manage risk better.
3. According to Big Data statistics, cyber scams have increased by 400% since the beginning of the pandemic.
(Source: Reed Smith)
Taking advantage of the complicated developments of the Covid-19 pandemic, cybercriminals have expanded their activities with many new methods and tricks.
The most common of these is Malware, which stands for "malicious software", a program or file designed to cause damage to a system.
Therefore, data protection measures must be taken by both individual users and business leaders. Businesses can protect themselves from malicious traffic by using a firewall. Currently, VNG Cloud is providing VNG Cloud Firewall (vCF) solution, a dedicated server for setting up a firewall in the cloud. vCF uses Juniper's vSRX virtual firewall, providing businesses with a powerful tool with cloud-based antivirus capabilities that detect and block spyware, adware, viruses, keyloggers and others. In addition, all infrastructure systems of VNG Cloud are also built with the Cloud Firewall system.
Big Data is the fuel that drives innovation and progress in the digital age
4. The amount of data generated will increase to more than 180 zettabytes by 2025.
Statistics have shown that the amount of data generated will reach more than 180 zettabytes by 2025, about 118.8 zettabytes higher than in 2020.
The reason behind this spike is that the pandemic has increased consumers' need to study, work and recreate remotely.
Therefore, over the forecast period, the storage used for storing this vast amount of data is expected to grow at a compound annual growth rate (CAGR) of 19.2%. Meanwhile, in 2020, users only stored 2% of data, showing significant growth in data storage needs.
5. Data interaction increased by 5000% from 2010 to 2020.
Big Data statistics show that data creation, collection, copying and usage have increased by a whopping 5000% between 2010 and 2020. More precisely, data usage has increased from 1.2 trillion gigabytes to nearly 60 trillion gigabytes.
6. Internet users have spent 1.2 billion years using online platforms.
There are currently 4.39 billion internet users worldwide, with each person spending an average of 6 hours and 42 minutes online daily. From this, it can be calculated that we have spent 1.2 billion years online, which clearly illustrates the growth rate of the Internet and Big Data.
The era of Big Data has transformed the way we live, work, and think
7. 97.2% of organizations are investing in Big Data and AI.
(Source: New Vantage)
According to a study by New Vantage, up to 97.2% of organizations surveyed have invested in Big Data and artificial intelligence initiatives.
8. Using Big Data, Netflix saves $1 billion yearly in customer retention.
(Nguồn: Statista, Inside Big Data)
Today, many companies use Big Data to expand and enhance their businesses. One of the most popular video streaming services, Netflix, is a perfect example. Netflix already has more than 208 million subscribers in 2023, and this number will continue to increase in the future.
The data Netflix collects includes searches, ratings, shows that users have watched, and many more. This data helps Netflix provide users personalized recommendations, showing similar videos or recommending movies of the same genre.
Through the above statistics, it can be concluded that in the future, Big Data will grow more and more at breakneck speed. Therefore, catching up and adapting to these trends will help businesses quickly increase their competitiveness and improve their performance.