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.
2017
- 53 percent of CEOs consider themselves the primary leader of their company’s analytics agenda.
- The amount of data generated each second in the banking sector will grow 700 percent by 2020.
- 59 percent of executives say big data at their company would be improved through artificial intelligence (AI).
- 14 percent of investment professionals use credit card and POS software data to derive data.
- Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
- 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.
- 90 percent of IT professionals plan to increase spending on BI tools.
- 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.
- 70 percent of investment professionals use “alternative data” or plan to do so in the next year.
