You’ve probably noticed that the term “big data” is frequently used these days. That’s because big data is a major player in the digital age. This term refers to complex and massive data sets that far exceed the potential of traditional data processing applications.

In the online business realm, digital businesses use the term big data to refer to data processing methods, such as predictive analytics, that allow them to extract value from gathering and analyzing online data.

However, for a digital company to harness the power of big data, they need to rely on three key factors: high-end analytics skills, unprecedented processing power, and secure storage capacities.

Since big data plays such a crucial role in the modern business landscape, let’s examine some of the most important big data statistics to determine its ever-increasing importance.