Data, Data, Data Every Where – What does it say

By | June 24, 2014
We see Data every where and every sphere. We create it while walking, eating, speaking and even sleeping. There is terabytes of it  being generated every milli second and the data size is growing at an un imaginable pace. This data if used rightly can change the way we humans live our life. Such is the size if the data
  • 90% of the world’s data has been produced in the last two years and is expected to double every 1.2 years
  • Twitter produces about 100,000 tweets per minute
  • Google receives about 2,000,000 search queries every minute
  • Facebook users post about 700000 posts every minute.
In fact there is a data deluge and we all take part in the production of data. We give information about ourselves on a regular basis. If someone is analyzing this data and getting insights, the results would be astonishing.
Here is something which is really amazing. This is an article from the Forbes Magazine which refers to another article from NY times. How Target Figured Out A Teen Girl Was Pregnant Before Her Father Did. This gives us really how smart companies can be and what all the data can tell you. Just the buying patterns have helped target to get the health status of the guest.
There is vast amount of data being generated and most of this data is not used. the little usage is also helping the companies to target their customers and in fact make some new products as well.
Few examples you see on the internet are below.
  • You visit a social website and visit your friends profile. Somewhere in the page, you will see “people who have visited this profile also visited”. There is some data working behind the scene there.
  • You go to a blog and and see an ad in that. some time later you also visit another blog. a similar ad is displayed for you.
  • You go to a super market. You will find two items with a bundled offer. There is some data working there too.
  • You fill up a loan application giving all your details. There are few banks which customize the interest rate based on these details.
These insights are applied across all domains. From a needle maker to large airline, this approach works. This is the power of predictive analytics and application of statistics.