2.5 quintillion bytes of unstructured and unrelated data is created every day.

Social media sites Digital pictures and videos Purchase transaction records Cell phone GPS signals

Source of Data

Tracks every single click of the customer on their website. Records all the purchases made by the customer and frequently viewed items, categories. Uses Analytics along with Big Data to recommend items on future purchases.

 Big data a part of every function and sector of global economy Essential factor of production just like labour and transport Key basis of competition for the next 10 years determining the winners and losers McKinsey & Company states US health care sector can capture 300bn in value creation, and it can help the government to cut us national expenditure on healthcare by 8%

 Huge returns can be achieved if the Error element in analysing the data is 0%