61 percent of businesses that recognize the effect of data and analytics on their core business practices say their companies either have not responded to these changes or have taken only ad hoc actions rather than developing a comprehensive, long-term strategy for analytics.
2018
Source: McKinsey Analytics
- 70 percent of investment professionals use “alternative data” or plan to do so in the next year.
- Through 2019, 90% of large organizations will have hired a CDO, but only 50% will be considered a success.
- The education vertical currently has the lowest adoption of big data among vertical industries, but educators are most likely to say they may use big data in the future.
- 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
- 8 percent of businesses say data and analytics have fundamentally changed the nature of industry-wide competition
- 90% of enterprise analytics and business professionals currently say data and analytics are key to their organization’s digital transformation initiatives.
- The big data industry will be worth an estimated $77 billion by 2023.
- 14 percent of investment professionals use credit card and POS software data to derive data.
- 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
- 53 percent of companies are adopting big data analytics
