Domo: Data Usage Increases Across Digital Platforms
In the 11th edition of Data Never Sleeps, new research from business data provider Domo shows a remarkable increase in the use of data across various online platforms, not only revealing the huge amounts of data generated on the internet every minute but also underscoring how data is constantly evolving as more people interact with digital platforms and services.
Results of the research show the increasing engagement among digital denizens with AI-driven platforms like ChatGPT and with the entertainment industry, notable growth in digital spending on e-commerce platforms, and an urgent need for robust security measures to counter cybersecurity threats.
In its infographic, Domo says that as of November 2023, global internet citizens currently add up to some 5.2 billion people, or 64.6% of the world’s total population. Domo also says the total amount of data predicted to be created, captured, copied, and consumed globally in 2023 is 120 zettabytes (1 zettabyte=1 trillion gigabytes), with data volume growing to 181 zettabytes by 2025.
Domo says the world’s use of data can be illustrated by a few examples: For every minute of the day, internet users around the world send 241 million emails, watch 43 years of streaming content, “like” 4 million posts on Facebook, and trade $398 million in US Treasury Bonds.
A key finding of this year’s research is that AI is creating big waves, with AI-driven platforms like ChatGPT reshaping the ways that people navigate the digital world. Even so, users have not abandoned search engines altogether, as searches on Google this year total more than 6.3 million every minute, up from 5.9 million a year ago, compared to just 6,944 searches on ChatGPT.
Entertainment is also dominant at present, the data indicates in another key finding. After a slight drop in engagement last year, X (formerly Twitter) now sees 360,000 posts from users every minute, up from 347,000. Meanwhile, Spotify users stream 24,000 hours of music, including 69,444 songs by record-setting songwriter and performer Taylor Swift. And every 60 seconds, Instagram users are sending more than 694,000 reels via direct message.
A third key finding shows digital spending continuing to expand. For instance, shoppers with their purchases add more than $455,000 every minute to the coffers of e-commerce giant Amazon, while the diners of DoorDash place total orders amounting to $122,785 during the same 60 seconds of time, up 60% from last year.
As digital activities intensify, however, cybersecurity threats do so as well. Cybercriminals launch 30 DDoS—distributed denial of service— attacks every minute, emphasizing the pressing need for robust online security measures to protect individuals and businesses, states the fourth key finding.
Josh James, founder and CEO of Domo, says that in highlighting some of the most meaningful data for businesses and consumers alike, the company’s findings this year reflect the constantly changing and fast-paced digital landscape. “Data drives everything we do, from a quick search online or sending an email, to checking the latest headlines on our way to work. [The report]…depicts just how much we rely on data and its impact on our daily lives in one of the 525,600 minutes in a year.”
Treasure Data: C-Suite and Consumers Disagree; Brands, Too, Are Disconnected
A large gap exists between C-suite executives and consumers in their perception of a brand’s ability to deliver personalized experiences, and brands appear disconnected from consumer woes, reveals customer data platform (CDP) provider Treasure Data in its new report, Data-Driven Insights: Navigating the Consumer Landscape in 2024.
One finding notes that among business leaders, 76% express confidence on the whole that their organizations possess comprehensive 360-degree views of their customers—a capability that enables the companies to deliver personalized experiences. Yet only 25% of consumers believe this to be true—that brands are able to provide the personalized experience desired by customers. The large discrepancy in perception notwithstanding, 88% of consumers also feel that more than half of the marketing content they receive from brands is irrelevant.
The report from Mountain View, California-based Treasure Data also reveals that 44% of consumers do not see the value in being longstanding customers of any specific product brand, and 64% believe that brands reserve the best deals and their warmest CX for new customers. Such a sentiment, the report explains, indicates that the majority of consumers feel they are not appreciated enough by brands or are not accorded with the value they deserve. In turn, this negative feeling among consumers diminishes their perception of a brand’s worth to them and increases the likelihood of their switching affinities to the brand’s rivals.
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The report further discloses that 49%—close to half—of consumers prefer to remain anonymous to brands, and that 48% concurrently choose to withhold their personal data. This is a blow to brands, which rely on the willingness of customers to provide their personal data so that product marketing in brands can personalize the shopping experience to win customers. The reluctance of consumers points to a lack of trust, which brands must address if they hope to collect and use data for personalization, the report maintains.
Mark Tack, chief marketing officer at Treasure Data, says that as the year draws to a close, companies must take an honest assessment of how they can best meet the expectations and ever-evolving needs of customers for what lies ahead.
“This research paints a clear and concerning picture: Despite brands’ best efforts, they struggle with messy, complex customer data challenges that limit their ability to understand and engage consumers effectively,” Tack offers. “As brands seek to level up their customer experiences in 2024 and beyond, it’s critical to invest in people, processes, and technologies to chart a better path forward.”
Apple-Funded Study: Threats to Consumer Data Growing and Worsening
A new study funded by Apple shows that data breaches and threats have gotten worse in 2023, with ransomware attacks also getting more dangerous. Around the world, cybercriminals target the most private and personal data of individuals, and attackers are constantly finding new ways to exploit such data, in particular when stored in the cloud.
These are some of the findings in The Rising Threat to Consumer Data in the Cloud, a study for which Apple provided support that was authored by Stuart E. Madnick, Ph.D., a computer scientist and a professor of information technology at the Massachusetts Institute of Technology (MIT) and the MIT Sloan School of Management.
For US organizations, data breaches are at an all-time high, up nearly 20% in the first nine months of 2023 compared to all of 2022. Organizations around the world face similar trends, the study notes. The attacks are increasingly worrisome because governments, corporations, and other organizations are collecting larger amounts of personal data from individuals, as people everywhere conduct more activities and transactions online. And personal data, which can be exploited and sold for a significant profit, has now become a growing target for cybercriminals.
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Two key factors have contributed to the increased threat to personal data. First, ransomware attacks have grown in number, sophistication, aggressiveness, and danger. In the first three quarters of 2023, the number of ransomware attacks increased by almost 70% compared with the first three quarters of 2022. Moreover, ransomware hackers are more organized, targeting organizations that hold sensitive data, such as governments, mass-market genetic testing companies, and healthcare facilities. While ransomware attacks in the past often resulted in a company’s data being locked up until a ransom was paid, hackers today are more likely to leak corporate and consumer data, often hurting those compromised in the breach.
A second factor is that attacks exploiting vendors are rising in number and frequently will spread to many other organizations that depend on those vendors. As a result, just one attack can have devastating consequences, with hackers only needing to exploit vulnerabilities in third-party software or a vendor’s system to obtain the data of every group stored in that vendor.
While organizations acknowledge these threats and beef up security measures, inventive hackers have shown that they will continue to find ways to bypass security measures. And hackers will be motivated to keep finding new ways to mount attacks, as long as organizations continue to collect troves of unencrypted personal data, the study warns.
Author Information
Alex is responsible for writing about trends and changes that are impacting the customer experience market. He had served as Principal Editor at Village Intelligence, a Los Angeles-based consultancy on technology impacting healthcare and healthcare-related industries. Alex was also Associate Director for Content Management at Omdia and Informa Tech, where he produced white papers, executive summaries, market insights, blogs, and other key content assets. His areas of coverage spanned the sectors grouped under the technology vertical, including semiconductors, smart technologies, enterprise & IT, media, displays, mobile, power, healthcare, China research, industrial and IoT, automotive, and transformative technologies.
At IHS Markit, he was Managing Editor of the company’s flagship IHS Quarterly, covering aerospace & defense, economics & country risk, chemicals, oil & gas, and other IHS verticals. He was Principal Editor of analyst output at iSuppli Corp. and Managing Editor of Market Watch, a fortnightly newsletter highlighting significant analyst report findings for pitching to the media. He started his career in writing as an Editor-Reporter for The Associated Press.
