Statistics

Covers nearly all of the above methods, and also carries the mantle of a well-established profession dating back to the mid 1800’s. Although statisticians work on “big data” problems, the field of statistics has traditionally been focused on focused research studies (e.g. drug trials).

The Institute for Statistics Education

Explore Data & Analytics Statistics

62 percent of retail businesses see competitive advantages from information and analytics.
59 percent of executives say big data at their company would be improved through artificial intelligence (AI).
Content analytics usage among IT professionals increased from 43 percent to 54 percent between January 2018 and January 2019.
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.
Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
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.
The amount of data generated each second in the banking sector will grow 700 percent by 2020.
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.
50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
Through 2019, 90% of large organizations will have hired a CDO, but only 50% will be considered a success.

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