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.2021
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- 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.
- The worldwide big data market is projected to grow from $42 billion in 2018 to $103 billion in 2027.
- 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.
- The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
- In 2025, the IoT data analyzed and used to change business processes will be as much as all of the data created in 2020.
- Only 16% of organizations can currently say that 75% or more of their employees have access to company data and analytics.
- Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
- 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.
- In the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.
- The number of IT professionals using descriptive and predictive analytics grew from the mid-40th percentile to high 60th percentile between January 2018 and January 2019.
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