59 percent of executives say big data at their company would be improved through artificial intelligence (AI).
It comes from studies conducted by PwC and reflects the growing belief among business leaders that AI can significantly enhance the management and use of big data within their organizations. This view is supported by the recognition that AI can improve processes like data analysis, pattern detection, and decision-making, making it easier to derive value from the vast amounts of data businesses collect.
The importance of this statistic lies in the fact that many companies struggle to fully capitalize on their big data investments. The tools and methods to extract insights from data have often been immature or difficult to scale. AI can bridge this gap by automating complex analytics tasks, improving data quality, and enabling more accurate predictions, helping organizations make data-driven decisions faster and with greater precision.
A data consulting firm can assist companies in this area by implementing AI solutions tailored to their specific needs. These firms can help integrate AI tools to streamline data processes, improve data governance, and ensure that data is prepared for AI use. Additionally, data consultants can provide the expertise needed to align AI initiatives with business goals, ensuring a higher return on data investments. They can also support organizations in overcoming challenges such as data silos, incomplete data, or bias in data, which are critical for successful AI implementation
- 73 percent of businesses consider Spark SQL critical to their analytics strategies as a big data access method.
- 62 percent of retail businesses see competitive advantages from information and analytics.
- The big data industry will be worth an estimated $77 billion by 2023.
- 36 percent of investment professionals use web scraping to derive data.
- 53 percent of CEOs consider themselves the primary leader of their company’s analytics agenda.
- 21 percent of investment professionals use web traffic to derive data.
- 55 percent of North American businesses have adopted big data analytics.
- 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.
- 90 percent of the world’s data was created between 2015 and 2016 alone.
- 70 percent of investment professionals use “alternative data” or plan to do so in the next year.
