50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
2018
Source: McKinsey Analytics
- Businesses that use big data saw a profit increase of 8–10 percent.
- 29 percent of investment professionals use search trends to derive data.
- 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.
- 36 percent of investment professionals use web scraping to derive data.
- Analytics leaders are nearly twice as likely as others to report enacting a long-term strategy to respond to changes in core business practices.
- The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
- 95 percent of businesses need to manage unstructured data.
- 21 percent of investment professionals use web traffic to derive data.
- 83 percent of enterprise executives say they’ve pursued big data projects to gain a competitive advantage.
- Content analytics usage among IT professionals increased from 43 percent to 54 percent between January 2018 and January 2019.