The term 'Big Data' has become almost ubiquitous in discussions surrounding the future of data visualization and business intelligence. Although it is used in a range of different situations, the expression has become an umbrella term to explain the steep increase in the amount, and the variety of data now produced. Whilst many recent statistics simply cover the amount of data produced, The University Of Texas recently conducted a study sponsored by Sybase to examine the the possible benefit to companies if this data could be utilized.
The study is based on 150 Fortune 1000 companies and thus the results are very vague. That said, the study comes up with some interesting findings. With a 10% increase in the usability of its data, the average Fortune 1000 company from the sample could increase their return-on-equity by 16%. Some of the other key finds are neatly summarized in the stylish infographic we found on ReadWriteWeb below.
The study further highlights the need for companies to turn their data into dollars. Bime lets the small guys unlock the value of big data!