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.
2020McKinsey Global Institute
Explore Data & Analytics Statistics
- Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
- 14 percent of investment professionals use credit card and POS software data to derive data.
- 40 percent of businesses say they need to manage unstructured data on a frequent basis.
- Businesses that use big data saw a 10 percent reduction in overall cost.
- 55 percent of North American businesses have adopted big data analytics.
- 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
- 29 percent of investment professionals use search trends to derive data.
- More than 30 percent of businesses say big data and analytics have fundamentally changed business practices in their research and development departments
- Big data ranks 20th across 33 key technologies when businesses were asked their top technologies and initiatives strategic to business intelligence.
- 26 percent of businesses say data and analytics have significantly changed the nature of industry-wide competition.
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