The Economist : Data Deluge

Friday, February 26, 2010

…earlier related article on this blog…

QUANTIFYING the amount of information that exists in the world is hard.  What is clear is that there is an awful lot of it, and it is growing at a terrific rate (a compound annual 60%) that is speeding up all the time.  The flood of data from sensors, computers, research labs, cameras, phones and the like surpassed the capacity of storage technologies in 2007.  Experiments at the Large Hadron Collider at CERN, Europe’s particle-physics laboratory near Geneva, generate 40 terabytes every second—orders of magnitude more than can be stored or analysed.  So scientists collect what they can and let the rest dissipate into the ether.  According to a 2008 study by International Data Corp (IDC), a market-research firm, around 1,200 exabytes of digital data will be generated this year…..

Wal-Mart, a retail giant, handles more than 1m customer transactions every hour, feeding databases estimated at more than 2.5 petabytes—the equivalent of 167 times the books in America’s Library of Congress.  Facebook, a social-networking website, is home to 40 billion photos.  And decoding the human genome involves analysing 3 billion base pairs—which took ten years the first time it was done, in 2003, but can now be achieved in one week…..The amount of digital information increases tenfold every five years…..A vast amount of that information is shared.  By 2013 the amount of traffic flowing over the internet annually will reach 667 exabytes, according to Cisco, a maker of communications gear.  And the quantity of data continues to grow faster than the ability of the network to carry it all…..This shift from information scarcity to surfeit has broad effects.  “What we are seeing is the ability to have economies form around the data—and that to me is the big change at a societal and even macroeconomic level,” says Craig Mundie, head of research and strategy at Microsoft.  Data are becoming the new raw material of business: an economic input almost on a par with capital and labour.  “Every day I wake up and ask, ‘how can I flow data better, manage data better, analyse data better?” says Rollin Ford, the CIO of Wal-Mart.  Sophisticated quantitative analysis is being applied to many aspects of life, not just missile trajectories or financial hedging strategies, as in the past.  For example, Farecast, a part of Microsoft’s search engine Bing, can advise customers whether to buy an airline ticket now or wait for the price to come down by examining 225 billion flight and price records…..Google handles around half the world’s internet searches, answering around 35,000 queries every second…..

    
(click for larger images)

What about the information that is actually consumed?  Researchers at the University of California in San Diego (UCSD) examined the flow of data to American households.  They found that in 2008 such households were bombarded with 3.6 zettabytes of information (or 34 gigabytes per person per day).  The biggest data hogs were video games and television.  In terms of bytes, written words are insignificant, amounting to less than 0.1% of the total.  However, the amount of reading people do, previously in decline because of television, has almost tripled since 1980, thanks to all that text on the internet.  In the past information consumption was largely passive, leaving aside the telephone.  Today half of all bytes are received interactively, according to the UCSD.  Future studies will extend beyond American households to quantify consumption globally and include business use as well.  Significantly, “information created by machines and used by other machines will probably grow faster than anything else,” explains Roger Bohn of the UCSD, one of the authors of the study on American households.  “This is primarily ‘database to database’ information—people are only tangentially involved in most of it.”  Only 5% of the information that is created is “structured”, meaning it comes in a standard format of words or numbers that can be read by computers.  The rest are things like photos and phone calls which are less easily retrievable and usable.  But this is changing as content on the web is increasingly “tagged”, and facial-recognition and voice-recognition software can identify people and words in digital files.  “It is a very sad thing that nowadays there is so little useless information,” quipped Oscar Wilde in 1894.  He did not know the half of it.

References :
http://www.economist.com/surveys/displaystory.cfm?story_id=15557421
http://www.economist.com/surveys/displaystory.cfm?story_id=15557443
http://www.economist.com/surveys/displaystory.cfm?story_id=15557497

One Response to “The Economist : Data Deluge”


  1. […] to do with all these loads of information and data available nowadays? As The Economist reported a couple of months ago, the world is practically drowning in data from sensors, computers, research labs, cameras, phones […]


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