Businesses that use big data saw a profit increase of 8–10 percent.
2019
Source: Entrepreneur
- 90% of enterprise analytics and business professionals currently say data and analytics are key to their organization’s digital transformation initiatives.
- 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.
- The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
- The amount of data generated each second in the banking sector will grow 700 percent by 2020.
- Big data ranks 20th across 33 key technologies when businesses were asked their top technologies and initiatives strategic to business intelligence.
- 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.
- In a survey of approximately 700 business professionals, only 15% said their organization is currently very effective in delivering a relevant and reliable customer experience. In the same survey, only 3% of respondents said they are able to act on all of the customer data they collect; 21% say they can act on very little of it.
- 40 percent of businesses say they need to manage unstructured data on a frequent basis.
- Insights-driven businesses are growing at an average of more than 30% each year, and by 2021, they are predicted to take $1.8 trillion annually from their less-informed peers.
- 90 percent of the world’s data was created between 2015 and 2016 alone.
