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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- 98 percent of sales representatives at construction companies that adopt analytics and geographic data reported dramatic decreases in their time frame for providing price quotes.
- 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, more than a quarter of all data created will be real-time, with 95% of that data generated by the Internet of Things.
- 60 percent of businesses believe it is harder to source talent for data and analytics positions than for any other roles
- 62 percent of retail businesses see competitive advantages from information and analytics.
- 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
- More than 30 percent of businesses say big data and analytics have fundamentally changed business practices in their research and development departments
- 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.
- Through 2019, 90% of large organizations will have hired a CDO, but only 50% will be considered a success.
- 21 percent of investment professionals use web traffic to derive data.
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