26 percent of businesses say data and analytics have significantly changed the nature of industry-wide competition.

2018

• The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
• 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
• Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
• 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.
• Big data ranks 20th across 33 key technologies when businesses were asked their top technologies and initiatives strategic to business intelligence.
• The amount of data generated each second in the banking sector will grow 700 percent by 2020.
• 29 percent of investment professionals use search trends to derive data.
• By 2025, more than a quarter of all data created will be real-time, with 95% of that data generated by the Internet of Things.
• Analytics leaders are nearly twice as likely as others to report enacting a long-term strategy to respond to changes in core business practices.
• 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.