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
- Businesses that use big data saw a 10 percent reduction in overall cost.
- Insights-driven businesses are growing at an average of more than 30% each year, and by 2021, they are predicted to take $1.8 trillion annually from their less-informed peers.
- Customer/social analysis is considered the second most important big data analytics use case, followed by predictive maintenance.
- 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.
- 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.
- 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.
- By 2025, IDC predicts that the total amount of digital data created worldwide will rise to 163 zettabytes, ballooned by the growing number of devices and sensors
- 14 percent of investment professionals use credit card and POS software data to derive data.
- By 2025, 60% of the 163 zettabytes of existing data will be created and managed by enterprise organizations.
- 90 percent of the world’s data was created between 2015 and 2016 alone.
