Businesses are collecting ever-larger volumes of data—structured and unstructured alike. IDC predicts that the “global datasphere” will grow from 33 zettabytes (ZB) in 2018 to 175 ZB by 2025. This number is staggering. Note that one zettabyte is approximately equal to one billion terabytes. If each terabyte were a kilometer, a zettabyte would be equivalent to 1,300 round trips to the moon. Now multiply that by 175 and you begin to get the picture of the data deluge today’s businesses face.
Businesses that figure out how to make decisions using all this data—those that are “data driven”—will come out ahead. By making better use of their rich information resources to make better decisions, they will perform better than those that operate on gut feel or anecdotal evidence. Forrester found that data-driven companies grow eight times faster than those that work from intuition. Indeed, such “insights-driven” businesses grow, on average, an impressive 30% annually and are forecast to earn $1.8 trillion more than their less-advanced peers by 2021, as illustrated in Figure 1-1.
But traditional analytics solutions will take businesses only so far when attempting to make use of data.
Figure 1-1. Insights-driven businesses have a distinct advantage
Augmented analytics is the latest way to think about data and analytics. It includes embedding ...
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