The Strange Addictiveness Of Analytics
(Why our craving for data might lead us to a place we can’t control)
Chapter One: why analytics are addictive
The human brain is wired to seek out patterns.
From An Evolutionary
Recognizing Patterns is crucial to survival.
Relied on patterns.
Like the migration habits of animals.
Or the changing of the seasons.
helped us hunt.
Take a look at the table below, showing the frightening scale of data in 2023.
|90% of the world’s data has been created in just the past two years.||IBM, 2021|
|47% of marketers consider data as the most important factor when making marketing decisions.||Domo, 2020|
|73% of business leaders say that data analytics will be a key factor in their organization’s future success.||Forbes, 2019|
|89% of companies believe that investing in data quality will lead to higher revenues.||Experian, 2019|
|Data-driven organizations are 23 times more likely to acquire customers, 6 times as likely to retain customers, and 19 times as likely to be profitable as a result.||McKinsey Global Institute, 2018|
Today, our desire for patterns remains undimmed. It’s hardwired into in our makeup. But the information we crave has changed. We no longer need to memorize the patterns of animals, or the changing seasons. Survival means succeeding on a financial level.
For this, data and analytics are extremely helpful…
Chapter two: Feeding Our brain’s craving
Our brain finds patterns.
It creates a mental note.
This is used to help us map
out the future.
a fundamental principle.
On how the brain works.
By several areas of the
Take a look at the table below.
|By 2025, the global datasphere is expected to grow to 163 zettabytes, which is 10 times the amount of data generated in 2016.||IDC, 2020|
|71% of enterprises believe that big data analytics is important to their business goals and objectives.||Forbes, 2019|
|80% of companies say that improving data quality is a priority for them.||Experian, 2020|
|The average data breach costs companies $3.86 million, and it takes an average of 280 days to identify and contain a breach.||IBM, 2020|
|In 2021, the average time spent on social media by internet users worldwide was 2 hours and 25 minutes per day.||Statista, 2021|