Big data has been a big buzzword over the past few years. As a small business, there are many ways you can use big data to reach your target audience, engage your customers, and take sales to the next level.
Even if you’ve ignored big data in the past, there’s no reason to go down this path in the future. If you’re on the fence in regards to how it can help your business, here are 10 statistics you need to know:
- Most companies only analyze 12 percent of the data they have. (Attunity)
- By 2020, there will be approximately 50 million connected devices in the world, collecting, analyzing and sharing data. (Cisco)
- By 2020, new information generated per second for every human being will be approximately 1.7 megabytes. (Whiz PR)
- 40,000 search queries are performed every second on Google. (Internet Live Stats)
- 300 hours of video are uploaded to YouTube every minute. (Neil Patel)
- More than six million developers are currently working on advanced analytics and big data projects. (Evans Data Corporation)
- Spending on big data is expected to surpass $57 billion this year. (Capterra)
- Only 37 percent of companies say they’ve been successful in becoming more data-driven. (NewVantage Partners)
- The business intelligence market is worth more than $18 billion. (Gartner)
- Annual revenue from the global big data market reached $42 billion in 2018. (Statista)
Big data provides an opportunity for your business to grow, exceed the competition, and reach many of your goals. It’s 2019, so the days of ignoring big data as a small business are long gone!
For more insights on marketing strategy that actually works for small business, subscribe to the FreshLime Newsletter here. Connect with Jay Bean, Founder of FreshLime and Small Business Marketing Expert on LinkedIn and Twitter. And last of all, if any of these tips have helped you or if you have anything to add please comment below. We’d love to hear from you!