Big Data: Key Player in Business Survival and Growth – Projections for 2019 and Africa’s Involvement

Big Data is incessantly shaping the future of tech industry, while firms that have successfully managed it stand to reap lasting benefits. According to research by IBM, an impressive 2.5 quintillion bytes of data are created daily, creating numerous job opportunities in the process. Gartner, a US-based research and advisory firm, projected the creation of as many as 4.4 million IT positions worldwide to support big data by 2015, with 1.9 million of them in the US alone.

To comprehend the indispensability of these roles in business, Domo, a data visualization firm, provided a detailed infographic demonstrating how data is generated daily across various tech platforms. This process takes place among the currently estimated 3.2 billion people who have internet access.

For example, consider YouTube. Every minute, users upload 300 hours of video, and this metric doesn’t even account for the number of video views per minute by users. Last year, when YouTube unveiled its Music app, it released a few interesting statistics:

– YouTube has over a billion users, nearly one-third of all individuals on the Internet.
– Even YouTube’s mobile platform alone reaches more 18-34 and 18-49 year-olds than any cable network in the U.S.
– The number of hours people spend watching videos on YouTube is up 60% year over year, the fastest growth in two years.
– The number of individuals watching YouTube per day has increased by 40% since March 2014.
– The number of users starting at the YouTube homepage (similar to how someone might turn on their TV) has increased by more than three times year over year.

Additionally, 300 hours of video are uploaded to YouTube every minute, with 4.95 billion videos viewed on Youtube every day. The platform sees 900 million unique visits each month and a total of 3.25 billion hours of video are watched on YouTube monthly.

This is where Big Data comes into play. Businesses strive for more detailed insights, broken down by geography, economic conditions, and local policies like tax and privacy laws. This information eventually informs critical marketing and administrative decisions, which can significantly impact a business’s output and sales. Those capable of parsing this daily deluge of data will reap substantial benefits.

An International Data Corporation (IDC) report estimates that worldwide revenues for big data and business analytics will grow from nearly $122 billion in 2015 to over $187 billion in 2019, marking a growth of over 50% in five years.

Region-wise, the United States is expected to have the largest Big Data market, anticipated to reach $98 billion by 2019. Western Europe, Asia Pacific (excluding Japan), and Latin America are expected to follow, respectively. According to IDC, large companies with over 500 employees will generate most of the Big Data revenue of $140 billion by 2019.

Meanwhile, Africa is shaping up to be an emerging player in the Big Data story, with over 320 million smartphones expected to be active on the continent by 2017. Nigeria and Ethiopia are anticipated to lead this digital transition due to their significant populations.

In the future, Big Data analysts will be required to use this data for applications like crime-fighting and other social activities. Indeed, Ericsson champions the Internet of Things (IoT), which in the end, is all about Big Data. Considering that about 80% of smartphone usage is expected to come from Asia and Africa, the value of data and the potential for Big Data analysis is only expanding.

Data is crucial, but misuse can also lead to devastating consequences. As companies look towards Artificial Intelligence to streamline business operations, analysts have a growing responsibility to provide accurate insights that will inform important business decisions and avoid long-term negative effects.

This article was updated in 2025 to reflect modern realities.