Business Intelligence (BI)Business intelligence (BI) is an umbrella term that includes the applications, infrastructure and tools, and best practices that enable access to and analysis of information to improve and optimize decisions and performance.
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- 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.
- Businesses that use big data saw a profit increase of 8–10 percent.
- 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.
- 45 percent of companies run at least some big data workloads in the cloud.
- 29 percent of investment professionals use search trends to derive data.
- The worldwide big data market is projected to grow from $42 billion in 2018 to $103 billion in 2027.
- More than 150 zettabytes (150 trillion gigabytes) of data will need analysis by 2025.
- By 2020, there will be 2.7 million job postings for data science and analytics roles.
- More than 30 percent of businesses say big data and analytics have fundamentally changed business practices in their research and development departments
- 29 percent of investment professionals use expert networks to derive data.
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