Five Ways Data Analysis Adds Value to Businesses

According to IDC, global data volumes will reach 175 zettabytes by 2025, up from 45 zettabytes in 2019. The main factors driving this exponential data growth include increasing internet users, broadband access, mobile phones, and social media users. For businesses, however, it is not the volume of data that matters most but rather the knowledge of how to use it. Due to the disruptive impact of data trends on entire markets, businesses are adopting data-driven cultures to keep up with their competitors. From personalizing marketing pitches for individuals to identifying and mitigating business risks, data analytics can be helpful to organizations in many ways.