Data has been crowned “king” and is frequently compared to the new “oil” and “gold” because of its ability to be mined and monetized to generate additional value and revenue streams for businesses. Data continues to grow in terms of size and value with IDC projecting that global data will grow to 175 zettabytes by 2025, up 288% from just two years ago.
Today, many organizations are using big data to unlock key insights across industries. For example, tech companies use data to personalize the user experience, private equity firms analyze data to evaluate companies more accurately, and even grocers are using data to better manage food distribution and the supply chain.
