Data, Data, Data! How Data Can Positively (or Negatively) Affect You!

Big data has entered nearly every industry we know of; from shopping to insurance, big data is everywhere! Have you ever wondered what big data can do for you, or better said, how it can affect your daily life?

Forbes in 2018 predicted that two and a half quintillion bytes of data is created daily, with that amount rising fast as internet access becomes quicker and more wide spread. To put it in a more common scale, that is 2.5 million terabytes of data, EVERY DAY.

Something that we will see in the PEO market in the years to come, is better record management due to big data. The healthcare industry is adopting big data to try and reduce costs and be more proactive on potential disease outbreaks. Clinical trials are able to be done on a broader scale due to the ease of monitoring the test subjects with big data. Mckinsey believes that in the coming years, big data could reduce the US healthcare spend by 12-17%!

Read more about how 'Big Data' is changing you and your business's day to day here.

Join the Conversation on Linkedin | About PEO Compass

The PEO Compass is a friendly convergence of professionals and friends in the PEO industry sharing insights, ideas and intelligence to make us all better. All writers specialize in Professional Employer Organization (PEO) business services such as Workers Compensation, Mergers & Acquisitions, Data Management, Employment Practices Liability (EPLI), Cyber Liability Insurance, Health Insurance, Occupational Accident Insurance, Business Insurance, Client Company, Casualty Insurance, Disability Insurance and more.

To contact a PEO expert, please visit Libertate Insurance Services, LLC and RiskMD.