Big Data Analytics Statistics


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Big Data Analytics Statistics 2023: Facts about Big Data Analytics outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Big Data Analytics, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Big Data Analytics Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Big Data Analytics Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 73 Big Data Analytics Statistics on this page 🙂

Big Data Analytics “Latest” Statistics

  • 30% of charitable and commercial organizations worldwide planned to use statistics for big data management in 2019.[1]
  • Fewer than 3% of respondents in a poll of 700 participants utilizing big data claimed to use data analytics and statistics to satisfy the needs of their clients.[1]
  • Besides banking, other sectors with a sizable market share for big data analytics revenue include discrete manufacturing (11.7%), process manufacturing (8.7%), professional services (7.9%), and governments (7.1%).[1]
  • When asked about investments, 60% said that their big data analytics budget is less than $50 million.[1]
  • When it comes to big data statistical analysis, 27% of the organizations who spend more affirmed their budget is between $50 and $500 million, with another 12.7% of those going beyond $500 million.[1]
  • Experts in the area thought that a corporation could only benefit from using big data to the extent of 22%.[1]
  • 90% of the world’s internet data was created two years ago.[1]
  • The size of the worldwide big data and analytics industry, which is anticipated to increase at a remarkable CAGR of 13.2% to a startling 274.3 billion by 2022, is revealed by big data statistics from 2018.[1]
  • 97.2% of the largest firms in the world are investing heavily in big data and AI.[1]
  • The university has decreased its dependency on agencies like the College Board and ACT by 40% by leveraging big data to generate lists of favoured students.[1]
  • 42% of respondents believe that big data security analytics will become a significant concern in the future.[1]
  • According to 75% of executives, the fear of being disrupted by rivals is a significant factor in the decision to engage in big data.[1]
  • Big data show businesses are already prospering, with an average growth rate of over 30% yearly.[1]
  • A corporation uses this data to inform preferences via a big data recommendation engine, which shapes 80% of the information you are shown with.[1]
  • Only 4.8% of respondents said that saving money is a significant element that motivates investments, although most high-rolling enterprises clearly see the advantages of big data when it comes to cost reductions.[1]
  • Despite the allure of six figures offered by big data occupations, average wage growth has slowed to only 2.25% annually.[2]
  • Enterprise CEOs predict that 79% of them will lose their competitive edge and go out of business if they don’t use big data.[3]
  • According to IDC, the usage of big data and business analytics increased at a pace of 12% between 2018 and 2019.[3]
  • According to a Dresner Advisory services survey, 36% of businesses consider big data to be essential for their operations.[4]
  • According to BARC research, better strategic decision-making is one of several advantages of implementing a big data project, with 54% better operational process control and 52% better customer comprehension.[4]
  • According to a survey by Accenture on the success rates of big data, about 79% of individuals think that businesses that do not use big data risk going bankrupt.[4]
  • 63% of workers claim their solutions don’t provide the necessary insights in a timely manner.[4]
  • 39% strongly agreed that big data would fundamentally alter their business practices in the future.[4]
  • The government and process manufacturing professional services were the next two greatest channels for big data investment, followed by banks (14% and 12%).[4]
  • About 29% cited big data as being really significant, 20% thought it was crucial, and 12% thought it was important.[4]
  • Businesses that use big data analytics might see operating margins rise by as much as 60%, according to McKinsey research on big data as the new frontier for innovation and competitiveness.[4]
  • Around 97.2% of businesses, according to a 2019 study by New Vantage Partners, are investing in both big data and artificial intelligence.[4]
  • With a projected CAGR of 13.2%, big data analytics sales are projected to reach over 88 billion in 2018.[4]
  • The report also revealed that around 51% of businesses strongly agree that big data would transform how they do business.[4]
  • 53% of businesses are using big data analytics, according to a recent Dresner Advisory services research.[5]
  • Forbes estimates that 69.4% of businesses have begun leveraging big data to develop a culture of data-driven decision-making, with 27.9% already claiming success.[5]
  • Finance and insurance now have the biggest need for data scientists at 19%, followed by professional services at 18% and IT services at 17%.[5]
  • 83% of business representatives claim that their decision to undertake big data initiatives is an attempt to gain a competitive advantage.[5]
  • Over 20% of businesses pick Yarn and MapReduce as their preferred big data platforms, putting them next in popularity.[5]
  • The big data analytics market (BDA) is anticipated to reach 49 billion, with a compound annual growth rate CAGR of 11% by 2025.[6]
  • A record high 97.2% of the firms who took part in the research have engaged in big data and ai efforts.[6]
  • 96% of firms will aim to hire additional big data professionals as they continue to recognize the enormous benefits of the technology.[6]
  • Between 2010 and 2020, data generation, collecting, copying, and consumption increased by a staggering 50%.[6]
  • In 2019, the big data banking analytics market reached a value of 29.87 billion and was expected to expand at a CAGR of 12.97% between 2020 and 2025.[6]
  • 27% of participants said their firms’ total big data and AI investments fell between 50 million and 550 million.[6]
  • According to BARC, businesses benefit from big data, with a 69% likelihood of making wiser strategic choices and 54% increased operational process control.[7]
  • According to a study by Forbes, over 95% of businesses need assistance managing large amounts of unstructured data, and 40% of businesses say they must deal with big data more regularly.[7]
  • 40% of CEOs cited a lack of organisational alignment as a deterrent to the use of big data.[8]
  • 75% of executives believe they are motivated by a concern about disruption, and 88% of executives feel that investing in big data and AI is urgent.[8]
  • Senior executives at Fortune 1000 or other industry-leading businesses are speeding up their investments in big data and AI, according to 92% of them.[8]
  • The predicted value of the big data sector by 2023 is $77 billion, or about 70% of Bill Gates’ personal worth.[9]

Big Data Analytics “Other” Statistics

  • In the years between 2019 and 2023, big data is anticipated to reach 22.49 billion at a compound annual growth rate of 23.5%.[1]
  • Although it’s predicted that the market’s total cash worth will reach 103 billion in the next three years, this amount may double by 2027.[1]
  • Budgetary restrictions were cited by 50% of U.S. executives and 39% of European executives as the main obstacle to converting big data into a successful company asset.[2]
  • 70% of the info in the world is user-generated, and revenue from cloud computing is close to $500 billion.[2]
  • Only 70% of businesses cloud computing budgets were used effectively, according to a 2021 poll of 750 respondents.[2]
  • With an astounding 91.9% of the worldwide search market, Google maintains its supremacy in the search engine industry.[2]
  • 45% of people utilized at least one social media site, while 67% of people using mobile devices.[2]
  • In 2021, the market brought in $20.12 billion, and it is expected to rise by an average of 28.9% per year.[2]
  • The platform’s recommendation system affects around 80% of all material seen there.[2]
  • State of adoption for big data and top companies in 2020 data is allegedly used by 64.2% of people to spur creativity.[3]
  • By 2020, 85% of consumer connections with businesses will be managed by customers without human interaction.[3]
  • Throughout the five-year prediction, there would be a 32.3% CAGR in revenue for BDA software distributed via the public cloud.[3]
  • On-premises solutions will account for over 70% of BDA software sales in 2019 in terms of deployment.[3]
  • Over 70% of respondents also rated consumer and social analysis, fraud detection, and predictive analysis as being very important.[4]
  • 81% of employers prefer experts with at least three to five years of experience if you were considering applying right immediately.[5]
  • A Chief Data Officer (CDO) was reportedly appointed by 62.5% of participants’ organizations, a fivefold increase over 2012’s 12%.[6]
  • Although 67% of company infrastructure is housed in the cloud, a few firms are now using it for big data operations.[6]
  • A staggering 64% of the global financial sector’s infrastructure already included big data as of 2013.[6]
  • Last but not least, the same source found that 33% of the time that internet users spend online is dedicated to social media.[6]
  • Online press accounts for 13% of overall online time, while other online activities account for the remaining 22%.[6]
  • The size of the big data worldwide market is anticipated to reach 268.4 billion by 2026, growing at a 12% CAGR over that time.[6]
  • It said that from 2020 to 2025, the installed base of storage capacity would rise at a compound annual growth rate of 19.2%.[7]
  • Businesses that are using big data reported an average 8% gain in revenue and a 10% decrease in expenses.[7]
  • Company leaders, including salespeople, nurses, maintenance workers, and others in direct touch with consumers, need better insights powered by technology to make wise choices quickly, according to 87% of business executives.[8]
  • At only 29%, financial industry organizations have the lowest adoption rates for analytics and business intelligence.[8]
  • Most Fortune 1000 executives, or 49%, believe that effective CDOs must be external change agents who bring new ideas.[8]
  • The urge to provide insights to staff has self-service business intelligence is deemed vital by 62% of businesses in 2022.[9]

Also Read

How Useful is Big Data Analytics

At its core, big data analytics is the process of examining large datasets to uncover hidden patterns, unknown correlations, market trends, customer preferences, and other useful information that can help organizations make more informed decisions. By utilizing powerful algorithms and advanced analytics tools, businesses can gain a competitive edge by optimizing operations, improving decision-making, and creating targeted marketing campaigns.

One of the key benefits of big data analytics is its ability to enhance customer experiences. By analyzing customer behavior, preferences, and feedback, businesses can tailor their products and services to meet the specific needs of their target audience. This personalized approach can lead to higher customer satisfaction, increased loyalty, and ultimately, greater revenue for the organization.

In addition, big data analytics can also help businesses identify new revenue opportunities. By analyzing market trends, competitor strategies, and customer demographics, organizations can uncover untapped markets, emerging trends, and niche opportunities that may have otherwise gone unnoticed. This can give businesses a strategic advantage in the marketplace and position them for long-term success.

Furthermore, big data analytics can improve operational efficiency within an organization. By analyzing internal processes, workflows, and performance metrics, businesses can identify bottlenecks, inefficiencies, and areas for improvement. This data-driven approach can help businesses streamline operations, reduce costs, and increase productivity, ultimately leading to a more agile and competitive organization.

Another key benefit of big data analytics is its ability to predict future trends and outcomes. By analyzing historical data and using predictive modeling techniques, businesses can forecast market trends, consumer behavior, and other important factors that can guide strategic decision-making. This proactive approach to decision-making can help businesses stay ahead of the competition and capitalize on new opportunities as they arise.

However, it’s important to acknowledge that big data analytics is not without its challenges and limitations. One of the main challenges is the sheer volume of data that organizations must manage and analyze. With the exponential growth of data being generated each day, businesses must invest in the right infrastructure, tools, and talent to effectively harness the power of big data analytics.

Additionally, privacy and security concerns can also pose a threat to the usefulness of big data analytics. With the increasing amount of personal data being collected and analyzed, businesses must take proactive measures to ensure the privacy and security of this information. Failure to do so can lead to legal and reputational risks that can outweigh the potential benefits of big data analytics.

In conclusion, while big data analytics holds great promise for organizations looking to gain a competitive edge through data-driven insights, its usefulness ultimately depends on how effectively businesses can harness and leverage the power of data. By investing in the right technology, talent, and processes, organizations can unlock the full potential of big data analytics and drive meaningful results for their business.

Reference

  1. dataprot – https://dataprot.net/statistics/data-statistics/
  2. explodingtopics – https://explodingtopics.com/blog/big-data-stats
  3. financesonline – https://financesonline.com/big-data-statistics/
  4. findstack – https://findstack.com/big-data-statistics/
  5. kommandotech – https://kommandotech.com/statistics/big-data-statistics/
  6. techjury – https://techjury.net/blog/big-data-statistics/
  7. analyticsinsight – https://www.analyticsinsight.net/top-10-big-data-statistics-you-must-know-in-2021/
  8. pipartners – https://www.pipartners.com/data-analytics-statistics/
  9. sigmacomputing – https://www.sigmacomputing.com/blog/top-20-big-data-statistics/

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