79 percent of enterprise executives say that not embracing big data will cause companies to lose competitive position and risk extinction.
2018
Source: Forbes
- 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
- Analytics leaders are nearly twice as likely as others to report enacting a long-term strategy to respond to changes in core business practices.
- 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.
- 26 percent of businesses say data and analytics have significantly changed the nature of industry-wide competition.
- Businesses that use big data saw a 10 percent reduction in overall cost.
- More than 30 percent of businesses say big data and analytics have fundamentally changed business practices in their research and development departments
- In 2025, the IoT data analyzed and used to change business processes will be as much as all of the data created in 2020.
- 40 percent of businesses say they need to manage unstructured data on a frequent basis.
- Only 7% of marketers surveyed report that they are currently effectively able to deliver real-time, data-driven marketing engagements across both physical and digital touchpoints.
- The big data industry will be worth an estimated $77 billion by 2023.
