The worldwide big data market is projected to grow from $42 billion in 2018 to $103 billion in 2027.
2018
Source: Forbes
- 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.
- Only 16% of organizations can currently say that 75% or more of their employees have access to company data and analytics.
- 70 percent of investment professionals use “alternative data” or plan to do so in the next year.
- Customer/social analysis is considered the second most important big data analytics use case, followed by predictive maintenance.
- Big data ranks 20th across 33 key technologies when businesses were asked their top technologies and initiatives strategic to business intelligence.
- The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
- The number of IT professionals using descriptive and predictive analytics grew from the mid-40th percentile to high 60th percentile between January 2018 and January 2019.
- 90 percent of the world’s data was created between 2015 and 2016 alone.
- 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.
