A global survey from McKinsey revealed that when organisations use data, it benefits the customer and the business by generating new data-driven services, developing new business models and strategies, and selling data-based products and utilities. Although data is becoming a game changer within the business arena, it’s important to note that data is also being utilised by small businesses, corporate and creative alike. 3 The business world is looking to data for market insights and ultimately, to generate growth and revenue. The world is driven by data, and it’s being analysed every second, whether it’s through your phone’s Google Maps, your Netflix habits, or what you’ve reserved in your online shopping cart – in many ways, data is unavoidable and it’s disrupting almost every known market. 2 If that’s any indication, there’s likely much more to come. 1 Every day, 2.5 quintillion bytes of data are created, and it’s only in the last two years that 90% of the world’s data has been generated. The global big data market revenues for software and services are expected to increase from $42 billion to $103 billion by year 2027.
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