The advancement of machine learning and artificial intelligence is opening new doors for businesses to make more data-driven decisions at higher accuracy rates. Data and analytics are also changing the way that businesses compete.

As leading companies take advantage of the power of big data, and laggards stay behind, the disparity between the two groups will continue to widen in the future. Recently, Forbes has predicted that by 2020, we will have 1.7 megabytes of new information created every second for every human everywhere on the planet. So what does this mean?

This means that if your business does not take advantage of this growing industry, your competitors may drive ahead as you’re left meandering in not seeing the true value of big data and how it can provide efficiencies for your business.

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This article was written by Carlos Mendoza.