This escalating numerology has been necessitated by an explosion in the volume of data surging round our digital ecosystem from developments in science, technology, networking, government and business. From science, we have sources such as astronomy, particle physics and genonomics. The Sloan Digital Sky Survey, for example, began amassing data in 2000 and collected more in its first few weeks than all the data collected before that in the history of astronomy. It's now up to 140 terabytes and counting, and when its successor comes online in 2016 it will collect that amount of data every five days. Then there's the Large Hadron Collider, (LHC) which in 2010 alone spewed out 13 petabytes – that's 13m gigabytes – of data . The story is the same wherever you look. Retailers such as Walmart, Tesco and Amazon do millions of transactions every hour and store all the data relating to each in colossal databases they then "mine" for information about market trends, consumer behaviour and other things. The same goes for Google, Facebook and Twitter et al. For these outfits, data is the new gold.

from the Guardian