In the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.

2019

• The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
• 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.
• 90% of enterprise analytics and business professionals currently say data and analytics are key to their organization’s digital transformation initiatives.
• Data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable as a result.
• 14 percent of investment professionals use credit card and POS software data to derive data.
• Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
• 90 percent of IT professionals plan to increase spending on BI tools.
• In the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.
• In 2025, the IoT data analyzed and used to change business processes will be as much as all of the data created in 2020.
• Through 2019, 90% of large organizations will have hired a CDO, but only 50% will be considered a success.