59 percent of executives say big data at their company would be improved through artificial intelligence (AI).
It comes from studies conducted by PwC and reflects the growing belief among business leaders that AI can significantly enhance the management and use of big data within their organizations. This view is supported by the recognition that AI can improve processes like data analysis, pattern detection, and decision-making, making it easier to derive value from the vast amounts of data businesses collect.
The importance of this statistic lies in the fact that many companies struggle to fully capitalize on their big data investments. The tools and methods to extract insights from data have often been immature or difficult to scale. AI can bridge this gap by automating complex analytics tasks, improving data quality, and enabling more accurate predictions, helping organizations make data-driven decisions faster and with greater precision.
A data consulting firm can assist companies in this area by implementing AI solutions tailored to their specific needs. These firms can help integrate AI tools to streamline data processes, improve data governance, and ensure that data is prepared for AI use. Additionally, data consultants can provide the expertise needed to align AI initiatives with business goals, ensuring a higher return on data investments. They can also support organizations in overcoming challenges such as data silos, incomplete data, or bias in data, which are critical for successful AI implementation
- 60 percent of businesses believe it is harder to source talent for data and analytics positions than for any other roles
- The worldwide big data market is projected to grow from $42 billion in 2018 to $103 billion in 2027.
- Businesses that use big data saw a profit increase of 8–10 percent.
- 90% of enterprise analytics and business professionals currently say data and analytics are key to their organization’s digital transformation initiatives.
- 21 percent of investment professionals use web traffic to derive data.
- Content analytics usage among IT professionals increased from 43 percent to 54 percent between January 2018 and January 2019.
- Customer/social analysis is considered the second most important big data analytics use case, followed by predictive maintenance.
- In the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.
- 90 percent of the world’s data was created between 2015 and 2016 alone.
- Only 7% of marketers surveyed report that they are currently effectively able to deliver real-time, data-driven marketing engagements across both physical and digital touchpoints.
