According to a Workforce study,lately it is all about big data as the world is generating and analyzing increasing volumes of data.
Websites, social networks, smartphone apps, cloud-based software services, cheaper data storage—all of it is contributing to the creation of information that this year alone is expected to reach 1.2 zettabytes. That's the equivalent of 1 billion terabytes of raw, unstructured data.
Companies rank business analytics as the most important technology innovation they face, according to a December 2012 report from tech industry analyst Ventana Research.
Generally, Big Data doesn't just refer to information obtained from inside a company's current employee records or operations, but to a mix of personnel data and information from competitors, industry or other benchmarks.
Companies have been slow to bring analytics-based decision-making to their people practices, but that's changing. Worldwide information spending on big data is growing.
$34 billion is expected to be spent in 2013.
40 trillion gigabytes is expected to be used by 2020 (more than 5,200 for every man, woman and child.
Big data is the most important technology innovation companies face. In a recent decision making project:
52% used business analytics
38% used mobile technology
16% used social media
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