8 percent of businesses say data and analytics have fundamentally changed the nature of industry-wide competition
2018
Source: McKinsey Analytics
- 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
- 30 percent of businesses consider the Spark software framework critical to their big data analytics strategies.
- In the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.
- 29 percent of investment professionals use expert networks to derive data.
- 36 percent of investment professionals use web scraping to derive data.
- 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
- By 2020, there will be 2.7 million job postings for data science and analytics roles.
- 73 percent of businesses consider Spark SQL critical to their analytics strategies as a big data access method.
