50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
2018
Source: McKinsey Analytics
- The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
- More than 30 percent of businesses say big data and analytics have fundamentally changed business practices in their research and development departments
- By 2025, IDC predicts that the total amount of digital data created worldwide will rise to 163 zettabytes, ballooned by the growing number of devices and sensors
- 29 percent of investment professionals use search trends to derive data.
- People generate 2.5 quintillion bytes of data each day.
- 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.
- Content analytics usage among IT professionals increased from 43 percent to 54 percent between January 2018 and January 2019.
- 73 percent of businesses consider Spark SQL critical to their analytics strategies as a big data access method.
- 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.
