During an insanely bumpy plane flight today I read an excellent article in the Economist on data inflation and its implications. Apparently, the amount of data generated globally is, "...growing at a terrific rate (a compound annual 60%.)" IDC completed a study last year that estimated the world generated 1.2 zettabytes of data in 2008. A zettabyte is a trillion gigabytes.
Some interesting data points:
No wonder Google's chief economist predicts the job of statistician will soon become the "sexiest" around. :-)