In the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.
2019
Source: The Hill
- Businesses that use big data saw a 10 percent reduction in overall cost.
- Data warehouse optimization is considered the most important big data analytics use case, and is considered critical or very important by 70 percent of businesses.
- 36 percent of investment professionals use web scraping to derive data.
- 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
- 83 percent of enterprise executives say they’ve pursued big data projects to gain a competitive advantage.
- The big data industry will be worth an estimated $77 billion by 2023.
- By 2020, there will be 2.7 million job postings for data science and analytics roles.
- Only 16% of organizations can currently say that 75% or more of their employees have access to company data and analytics.
- By 2025, 60% of the 163 zettabytes of existing data will be created and managed by enterprise organizations.
- 30 percent of businesses consider the Spark software framework critical to their big data analytics strategies.
