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

McKinsey Global Institute

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50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
90% of enterprise analytics and business professionals currently say data and analytics are key to their organization’s digital transformation initiatives.
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
The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
29 percent of investment professionals use expert networks to derive data.
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.
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.
83 percent of enterprise executives say they’ve pursued big data projects to gain a competitive advantage.

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