Today, an organization’s data assets are in continuous motion. It has been that way for decades with no end in sight. The size of their data asset inventory is increasing as is their volume and value! As data increases in importance and value, it has caught the attention of many organizations. Some seek to maximize this asset and have appointed a Chief Data Officer (CDO) who is charged with that task.
INSIGHT: The IDC’s study titled, “The Digital Universe in 2020” estimated that in 2020, there will be an estimated 40 trillion gigabytes of data on that equals 40 zettabytes of data.
It is interesting to see metrics like in 2020, data is expected to grow at a rate of 1.7 megabytes per second for every person. Web users are expected to generate a whopping 2.5 quintillion bytes of data each and every day! It is no wonder that industry analysts believe that the big data analytics market will grow around 20%, another double-digit compound annual growth rate (CAGR), topping $100 billion in 2023 by one estimate. One of the hotter areas is the combination of big data, analytics and artificial intelligence (AI). Survey results published in 2019 stated that slightly over 97% of organizations are beginning to invest in the combination of big data analytics and AI. – Another example of a common theme of this blog and the vast majority of the research, analysis and briefings I am involved with as of late.
INSIGHT: Many believe that overall cyber defenses as well as data specific security measures have added complexity and decreased visibility into the expanding world of organizational data analytics!
It is no wonder that data analyst is a hot profession now days. Recently, the World Economic Forum (WEF) estimated that by 2020 data analysts will be in high demand in companies around the world. A recent search of Jobs on LinkedIn specifically for ‘data analysts’ brought back over 33,000 results in the United States alone. Consider the amount of work collecting and storing all that data. Now consider all the work analyzing all that data not to mention publishing the results.