Data Creation Increasing at Astounding Rate
According to a study done by EMC entitled Digital Universe, there will be 40 zettabytes of digital data produced by 2020. This amounts to 5200GB for every person on the Earth. Global marketing CTO at EMC Chuck Hollis said "Another way to look at it is that for every terabyte of data you own today, plan on 14 times more just like it by the end of the decade." The study also added that most of this data will be produced by machines rather than humans. This data provides for tremendous opportunity to be analyzed for trends and tagged with meta data. One example cited by the study was consumer buying trends. All of this will be assisted by the increasing power and capabilities of technology such as cloud infrastructure and high speed networks.