“90 percent of the data in the world has been created in the last two years.”
That’s a quote from a new podcast episode I heard. You might have come across that data point, as well. It’s often mentioned to highlight the far-reaching implications of technology and point to how rapidly things have changed.
It’s woefully outdated.
The stat came from a research study into big data published in 2012. That’s more than two years before Fitbit released their heart rate monitoring watch, almost three years before the first Apple Watch, and more than seven years before this blog, where an estimated 22% of US adults are using wearable devices. Just one category of devices is generating massive amounts of data not yet imagined when this study was first published – and its conclusion widely circulated.
Here’s the rub: as we barrel into 2020, it’s much more accurate to say that 99.99999% of all the data humans have ever generated in the history of the world is less than a decade old.
When surveyed, current executives prize developing decision-making skills in their next leaders. What does that mean when there’s so much new data, new information, and new knowledge that has only appeared in the last decade?
The new data-rich reality means decision-making has changed. Make sure your notions of decision-making skills follow suit.