26 percent of businesses say data and analytics have significantly changed the nature of industry-wide competition.
2018
Source: McKinsey Analytics
- 79 percent of enterprise executives say that not embracing big data will cause companies to lose competitive position and risk extinction.
- 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.
- 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
- 45 percent of companies run at least some big data workloads in the cloud.
- 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.
- Customer/social analysis is considered the second most important big data analytics use case, followed by predictive maintenance.
- By 2025, more than a quarter of all data created will be real-time, with 95% of that data generated by the Internet of Things.
- By 2025, 60% of the 163 zettabytes of existing data will be created and managed by enterprise organizations.
- 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 percent of IT professionals plan to increase spending on BI tools.