The big data industry will be worth an estimated $77 billion by 2023.

2019

• In the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.
• 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
• 55 percent of North American businesses have adopted big data analytics.
• Businesses that use big data saw a 10 percent reduction in overall cost.
• In 2025, the IoT data analyzed and used to change business processes will be as much as all of the data created in 2020.
• More than 30 percent of businesses say big data and analytics have fundamentally changed business practices in their research and development departments
• 40 percent of businesses say they need to manage unstructured data on a frequent basis.
• Big data ranks 20th across 33 key technologies when businesses were asked their top technologies and initiatives strategic to business intelligence.
• 21 percent of investment professionals use web traffic to derive data.
• 61 percent of businesses that recognize the effect of data and analytics on their core business practices say their companies either have not responded to these changes or have taken only ad hoc actions rather than developing a comprehensive, long-term strategy for analytics.