Consider the following statistic from a recent report from McKinsey & Co.: By 2009, large companies—with 1,000 employees or more—already had 200 terabytes of data stored about all facets of their consumers’ lives.
To put such a huge number in perspective, consider that just 10 terabytes can hold the entire printed collection of the Library of Congress.
Now add to that mind-boggling amount of data the exponential growth we have seen in social-networking data in the past three years. We have millions of tweets about our brands, thousands of Facebook “likes,” hundreds of thousands of check-ins on Foursquare. Pinterest and Instagram are adding even more to social-media data deluge. Watch the Twitter feed on your company’s brand for just a few hours and you’ll recognize soon enough that we are heading into a social-media data explosion that will soon be out of control—if it isn’t already—at most companies… Read more