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
- 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.
- People generate 2.5 quintillion bytes of data each day.
- The big data industry will be worth an estimated $77 billion by 2023.
- Customer/social analysis is considered the second most important big data analytics use case, followed by predictive maintenance.
- 40 percent of businesses say they need to manage unstructured data on a frequent basis.
- More than 30 percent of businesses say big data and analytics have fundamentally changed business practices in their research and development departments
- 53 percent of CEOs consider themselves the primary leader of their company’s analytics agenda.
- The worldwide big data market is projected to grow from $42 billion in 2018 to $103 billion in 2027.
- By 2025, IDC predicts that the total amount of digital data created worldwide will rise to 163 zettabytes, ballooned by the growing number of devices and sensors
- 90 percent of IT professionals plan to increase spending on BI tools.
