50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.

2018

McKinsey Analytics

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More than 30 percent of businesses say big data and analytics have fundamentally changed business practices in their research and development departments
The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
30 percent of businesses consider the Spark software framework critical to their big data analytics strategies.
79 percent of enterprise executives say that not embracing big data will cause companies to lose competitive position and risk extinction.
People generate 2.5 quintillion bytes of data each day.
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.
The worldwide big data market is projected to grow from $42 billion in 2018 to $103 billion in 2027.
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.
62 percent of retail businesses see competitive advantages from information and analytics.
29 percent of investment professionals use expert networks to derive data.

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