More than 30 percent of businesses say big data and analytics have fundamentally changed business practices in their research and development departments

2018

• Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
• The big data industry will be worth an estimated $77 billion by 2023.
• 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
• 14 percent of investment professionals use credit card and POS software data to derive data.
• 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.
• 53 percent of CEOs consider themselves the primary leader of their company’s analytics agenda.
• 61 percent of businesses that recognize the effect of data and analytics on their core business practices say their companies either have not responded to these changes or have taken only ad hoc actions rather than developing a comprehensive, long-term strategy for analytics.
• 8 percent of businesses say data and analytics have fundamentally changed the nature of industry-wide competition
• 29 percent of investment professionals use search trends to derive data.
• 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.