Big Data and Management Principles

Peter Drucker and Modern Management

• Recognized as the "Father of modern management" for his significant contributions to management theories and practices.
• Advocated the principle: “You cannot manage what you can’t measure,” emphasizing the importance of metrics in management.

Data Generation and Big Data

• The world generates an astonishing 2.5 quintillion bytes of data every single day.
• 1 Zettabyte = 1 trillion gigabytes, reflecting the vast scale of data in contemporary contexts.
• Digital transactions occur approximately every 18 seconds, indicating the rapid pace of online activities and commerce.

Big Data Analytics Market

• The big data analytics market is forecasted to grow significantly, predicting a market value of $349.56 billion by 2024.
• Global data volume reached 120 zettabytes in 2023 and is projected to increase to 181 zettabytes by the end of 2025, showcasing exponential growth in data creation.
• Data serves as the primary source for insights and analytics, playing a crucial role in decision-making and strategy formulation in various sectors.

Explore the foundational concepts of modern management as introduced by Peter Drucker, and delve into the significance of big data in today's digital landscape. Learn about data generation, analytics market trends, and the implications for businesses. Discover how measurement and metrics are essential in understanding and managing data.