Reference DataIt is the big data term that defines the data used to describe an object along with its properties. The object described by reference data may be virtual or physical in nature.
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- 8 percent of businesses say data and analytics have fundamentally changed the nature of industry-wide competition
- 60 percent of businesses believe it is harder to source talent for data and analytics positions than for any other roles
- 53 percent of companies are adopting big data analytics
- 95 percent of businesses need to manage unstructured data.
- 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
- Businesses that use big data saw a profit increase of 8–10 percent.
- Data warehouse optimization is considered the most important big data analytics use case, and is considered critical or very important by 70 percent of businesses.
- 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.
- 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.
- 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.
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