The estimated amount of digital information that is generated across the globe every day is considered to be 2.5 quintillion bytes. To put this in perspective, it is equivalent to digitizing everything in print at the Library of Congress and sending it out about 3x every second.
We are now in a digital and social age where there is constant conversation between consumer and company. Our world is interconnected in such a way that every touch-point – whether Twitter, Facebook, geo-tracking, etc – can be recorded, converted into text and mined for insights. Human behavior can be tracked and measured with "unprecedented fidelity." 2
And these insights – garnered throuh appropriate market research – serve as the foundation for successful strategies and targeted, integrated marketing.
Only four years ago, there were a handful of Big Data projects with total industry revenues under $100 million. It is now estimated that more than 90% of Fortune 500 companies invest in Big Data initiatives.3
The following will provide a more in-depth view of the data having a big impact on the market research industry