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“Big Data” Facts and Statistics That Will Shock You

By | May 8, 2012

Big Data AnalyticsDid you know in 2011 humans created 1.8 zettabytes of data? That would be equivalent to 200 billion high-definition movies that are at least 120 minutes long. It would take one person 47 million years to watch all those movies. All of this data that humans create doubles every two years. If properly used, data can help you make better decisions and have a positive effect on your business’ bottom line. The problem lies when businesses do not know how to use the data or collect poor-quality data.

How Bad Data Can Hurt Your Company

Check out these facts and statistics about how poor-quality or misunderstood data can cost your business millions:

  • Bad data or poor data quality costs US businesses $600 billion annually.
  • Poor data or “lack of understanding the data” are cited as the #1 reasons for overrunning project costs.
  • Poor data can cost businesses 20%–35% of their operating revenue.

So, what is the solution to this problem? Hiring a team of big-data experts to sort through and make sense of the data can significantly help your business earn more money.

How Data Can Benefit Your Company

Check out the two cool facts below about how good data and best practices can have a significant impact on your business:

  • Performing data-quality best practices can boost a company’s revenue by 66%
  • If an average Fortune 1000 company can increase the usability of its data by just 10%, the company could expect an increase of over 2 billion dollars. (Source: InsightSquared infographic)

As you can see, Big Data, if used correctly, can have a dramatic impact on your bottom line.

8 Comments

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About Chad Luckie

Chad Luckie is a digital marketing analyst with the research & strategy department at Fathom. He supplements the sales and marketing team with both broad industry and specific business research.

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8 Comments so far

  1. [...] 40%-60% annual growth increase is occurring in the volume of data available every year; in media intensive sectors and financial services, the increase is 120% (source: Fathom) [...]

  2. avatar A Comprehensive List of Big Data Statistics | Great Epicurean - August 2, 2013 at 12:15 am

    [...] Poor data can cost businesses 20%–35% of their operating revenue. (Source) [...]

  3. […] Bad data or poor data quality costs US businesses $600 billion annually. (Source) […]

  4. […] Bad data or poor data quality costs US businesses $600 billion annually. (Source) […]

  5. […] 40%-60% annual growth increase is occurring in the volume of data available every year; in media intensive sectors and financial services, the increase is 120% (source: Fathom) […]

  6. […] strong Information Governance is increased data quality.  Poor data quality costs U.S. businesses $600 billion annually.  When costs of the poor data in the U.S. government are added, the price-tag for the […]

  7. avatar Meta Brown - February 13, 2014 at 10:49 am

    Chad, can you point out the source for this statement: “Poor data can cost businesses 20%–35% of their operating revenue.” This does not appear in the infographic that you cited.

  8. avatar Paul Richlovsky - February 14, 2014 at 10:08 am

    Meta, thank you for reading. We appreciate your question. Unfortunately, Chad no longer is employed by Fathom. However, if I can find the original source, I will post a link to it here or contact you.

8 Responses to ““Big Data” Facts and Statistics That Will Shock You”


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