26 percent of businesses say data and analytics have significantly changed the nature of industry-wide competition.
2018
Source: McKinsey Analytics
- 29 percent of investment professionals use search trends to derive data.
- Content analytics usage among IT professionals increased from 43 percent to 54 percent between January 2018 and January 2019.
- 98 percent of sales representatives at construction companies that adopt analytics and geographic data reported dramatic decreases in their time frame for providing price quotes.
- 40 percent of businesses say they need to manage unstructured data on a frequent basis.
- Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
- Customer/social analysis is considered the second most important big data analytics use case, followed by predictive maintenance.
- The worldwide big data market is projected to grow from $42 billion in 2018 to $103 billion in 2027.
- 79 percent of enterprise executives say that not embracing big data will cause companies to lose competitive position and risk extinction.
- 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.
- 90% of enterprise analytics and business professionals currently say data and analytics are key to their organization’s digital transformation initiatives.