The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
2018
Source: Forbes
- 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
- 40 percent of businesses say they need to manage unstructured data on a frequent basis.
- 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.
- The number of IT professionals using descriptive and predictive analytics grew from the mid-40th percentile to high 60th percentile between January 2018 and January 2019.
- 29 percent of investment professionals use search trends to derive data.
- 95 percent of businesses need to manage unstructured data.
- 53 percent of CEOs consider themselves the primary leader of their company’s analytics agenda.
- Customer/social analysis is considered the second most important big data analytics use case, followed by predictive maintenance.
- 90 percent of the world’s data was created between 2015 and 2016 alone.
- 62 percent of retail businesses see competitive advantages from information and analytics.
