Connect with us

Technology

The Evolution of Data

Published

on

The Evolution of Data

The Evolution of Data

“Big Data” is a technology buzzword that comes up quite often. Most investors understand that it describes the current ecosystem in which there is exponentially more data, and that the wealth of information can be processed to create insights for companies. However, the evolution of how we got here is a little more fuzzy.

As the above infographic notes, it all started with ZIP codes. Born in 1963, ZIP codes allowed companies and marketers to gather more information on customers in a way that was not possible before. Then by combining computers with transactional data, businesses were able to learn more about the nature of each transaction. Who and where was something bought? What did they buy?

Then it was all about profiling the customer, so that it was possible to find more customers and grow a company. It started with demographics and then moved to psychographics (or “lifestyle data”). This allowed marketers to come up with a profile for their ideal customers, and how they think.

The most recent development in this type of data is in attitudes and behaviours – and this is where Big Data comes in. By analyzing everyone’s Google searches, Facebook posts, emails, tweets, and more, we now have more complex profiles on every consumer. This has led to massive databases, which need complex and fast analysis to provide any sort of useful insight.

The evolution of data is not ending anytime soon. The next data tsunami will come from information stemming from the internet of things (IoT) that will provide even more data points and need for sophisticated analysis.

Original graphic from: ALC

Click for Comments

Technology

Visualizing Internet Usage by Global Region

In this infographic, we map out internet usage by global region based on the latest data from the World Bank.

Published

on

Map showing internet usage by region.

Visualizing Internet Usage by Global Region

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Digital technologies have become an integral part of our daily lives, transforming communications, business, health, education, and more. Yet, billions of people around the world are still offline, and digital advancement has been uneven.

Here, we map internet usage by region based on data from the World Bank’s Digital Progress and Trends Report 2023.

Digitalization Has Been Uneven

According to the World Bank, between 2018 and 2022, the world gained 1.5 billion new internet users.

In 2020 alone, the share of the global population using the internet increased by 6% (500 million people), marking the highest jump in history. India, in particular, has seen high rates of adoption. For example, in 2018, only 20% of Indians used the internet. By 2022, this percentage had grown to more than 50%.

RegionIndividuals using the internet (% of population)
East Asia & Pacific74
Europe & Central Asia87
Latin America & the Caribbean76
Middle East & North Africa77
North America92
South Asia42
Sub-Saharan Africa34

However, the progress of digitalization has been uneven both within and across countries.

In 2022, one-third of the global population remained offline, with parts of Asia and Africa still experiencing very low rates of internet usage. For instance, more than half of businesses in Burkina Faso, Ethiopia, Ghana, and Senegal reportedly lack internet connection.

According to the World Bank’s report, when fast internet becomes available, the probability of an individual being employed increases by up to 13%, and total employment per firm increases by up to 22%. Moreover, firm exports nearly quadruple with the availability of fast internet. Across Africa, 3G coverage has been associated with a reduction in extreme poverty, with reductions of 10% seen in Senegal and 4.3% in Nigeria.

Curious to learn more about the internet? Check out this animated chart that shows the most popular web browsers since 1994.

Continue Reading
MSCI Direct Indexing

Subscribe

Popular