8 percent of businesses say data and analytics have fundamentally changed the nature of industry-wide competition

2018

McKinsey Analytics

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Businesses that use big data saw a profit increase of 8–10 percent.
8 percent of businesses say data and analytics have fundamentally changed the nature of industry-wide competition
Big data ranks 20th across 33 key technologies when businesses were asked their top technologies and initiatives strategic to business intelligence.
98 percent of sales representatives at construction companies that adopt analytics and geographic data reported dramatic decreases in their time frame for providing price quotes.
90 percent of IT professionals plan to increase spending on BI tools.
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.
The amount of data generated each second in the banking sector will grow 700 percent by 2020.
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.
In a survey of approximately 700 business professionals, only 15% said their organization is currently very effective in delivering a relevant and reliable customer experience. In the same survey, only 3% of respondents said they are able to act on all of the customer data they collect; 21% say they can act on very little of it.
95 percent of businesses need to manage unstructured data.

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