The universe of data is rapidly approaching its “obesity stage,” and the rapid pace of data creation and consumption is unlikely to slow down.
Looking at customer behavior certainly confirms this fact. According to a new PWC report, the epidemic has further increased the demand for Internet access, resulting in increased global data consumption. More than 2.5 quintillion bytes of data are generated per day, most of which end up on the web. There is a lot of public web data on the internet that gives the researcher insights and an accurate reflection of reality.
The simple answer is yes. Over the past three years, web data has become a central component in creating business fabric in many areas. In the success of building a strategy and mechanism that is unpredictable and predictable, web data comes to the rescue in multiple ways to address the heavy amount of competition we all face. This will see the role of web data in supercharging the upgrade and providing a customized view of your customer base and market competition. Simply put, the lack of web data is tantamount to seeing a partial or incomplete picture when dealing with important business decisions.
Web Data Platforms – The Real Meaning of Having a Competitive Aspect
When looking at web data consumption, we can see an upward trend. Even once reluctant sectors like the finance industry began to add external data sources known as Alt-data to their data matrix strategy. A recent joint study by Vanson Bone and Bright Data found that eight out of 10 financial services firms (77 per cent) in the US find it easier to integrate ultra-data with their decision-making processes, compared with 49 per cent in the US. Based institutions.
Gone are the days when quarterly income reports could be relied upon as the main source of data for decision making. Financial services firms are now looking for alternative and external data for a reality check of the market and the live stream of our new live economy. Before submitting multiple resources for a particular business move, the public web clearly occupied its position as a source of data that many relied on.
The aforementioned “data obesity” we are all experiencing means that the technology used to create and store web data needs to be adequately specified for the growing and emerging needs of all sectors.