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.
2020
Source: McKinsey Global Institute
- 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.
- 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.
- 53 percent of CEOs consider themselves the primary leader of their company’s analytics agenda.
- In 2025, the IoT data analyzed and used to change business processes will be as much as all of the data created in 2020.
- 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.
- Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
- 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.
- 59 percent of executives say big data at their company would be improved through artificial intelligence (AI).
- Customer/social analysis is considered the second most important big data analytics use case, followed by predictive maintenance.
