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
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- 26 percent of businesses say data and analytics have significantly changed the nature of industry-wide competition.
- The amount of data generated each second in the banking sector will grow 700 percent by 2020.
- Businesses that use big data saw a profit increase of 8–10 percent.
- 53 percent of CEOs consider themselves the primary leader of their company’s analytics agenda.
- 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.
- Data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable as a result.
- 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.
- 90 percent of IT professionals plan to increase spending on BI tools.
- 60 percent of businesses believe it is harder to source talent for data and analytics positions than for any other roles
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