The amount of data generated each second in the banking sector will grow 700 percent by 2020.

2019

The Hill

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8 percent of businesses say data and analytics have fundamentally changed the nature of industry-wide competition
40 percent of businesses say they need to manage unstructured data on a frequent basis.
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.
People generate 2.5 quintillion bytes of data each day.
36 percent of investment professionals use web scraping to derive data.
14 percent of investment professionals use credit card and POS software data to derive data.
Analytics leaders are nearly twice as likely as others to report enacting a long-term strategy to respond to changes in core business practices.
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.
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 the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.

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