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About 2.5 quintillion bytes of data are created each day and is exponentially accelerating with the growing Internet of Things (IoT) landscape. Given that data has become a key input for driving growth, organisations must treat it as a corporate asset for better and faster decision-making, said Snehashish Bhattacharjee, CEO, Denave, a sales enablement company.
Speaking to BusinessLine here, at the launch of DenTrack, Denave's proprietary end-to-end marketing tool, Bhattacharjee said that “Big Data’ can be categorised as structured/organised (Smart Data) and unstructured. The latter is pivotal for business strategists “as they hold the key to the perennial quest of where exactly is the next new customer.”
Data volume
Currently, around 5 billion consumers interact with data every day, with a new report suggesting that by 2025, that number will be 6 billion, or 75 per cent of the world's population. Studies suggest 90 per cent of the data in the world today has been created in the last two years.
Bhattacharjee said for businesses to grow and thrive, "it is imperative to mine this untapped data to deliver meaningful insights", with the help of data analytics, to support business functions for desired outcomes.
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