“Without big data analytics, companies are blind and deaf, wandering out onto the web like deer on a freeway.” – Geoffrey Moore
In the ever changing world of the business, data is the main problem and data is the main solution! We need an abundance of data and the knowledge to use that data in the most effective manner possible. For any company to survive and to reach to the top, there is a huge need for accurate, clean and a timely data. Big data is a game changer and in this blog I shall present you with the figures and statistics that will blow your mind and will make you want to acquire/hold that big data like it is a rare beautiful diamond!
Let us get started, shall we?
- “Big data revenue will grow at 11.9% through 2020, when sales will exceed to $210 billion” -IDC
There has been a consistent upward trend in the sales of big data solutions and it is likely to only increase in the following years! Big data means access to more information, which means having a broadened view for making a decision regarding the different solutions one can provide!
- “By 2020, large enterprise will generate revenue from data as a solution” -IDC
Earlier, companies collected data for their own sake. It was one of the ways to study the market. However, it served more than just that and large enterprises have realized it. It will not come as a surprise if every enterprise becomes a data provider by 2020.
- “Global business value derived from Artificial Intelligence (AI) is projected to total $1.2 trillion in 2018, an increase of 70 percent from 2017″ -Gartner
Artificial Intelligence is the new mantra for success. If these figures are not staggering enough, Gartner also added that the business value derived from AI will reach $3.9 trillion in 2022. AI needs big data and it is no wonder more and more companies are opting to become more data-driven.
- “Big data delivers the most value to enterprises by decreasing the expenses to 49.2% and creating new avenues for innovation and disruption by 44.3%” -NewVantage Venture Partners
It is about time that acquiring data be viewed as an asset more than as an expense. It yields great results and reduces tremendous amount of efforts and time that would otherwise be wasted and facilitate in effective decision making.
- “84% of enterprises have launched advanced analytics and Big Data initiatives to bring greater accuracy and accelerate their decision-making” –NewVantage Venture Partners Survey and Statista.
A database is useless if it is not accurate, updated and relevant. Organization realize that the quality of the data plays a huge role. In order to form strategies and make use of the data one must ensure that the quality of data is as good as one can possibly have!
- “More than 85% of respondents report that their firms have started programs to create data-driven cultures, but only 37% report success thus far” -NewVantage Venture Partners Survey
Yes, we are heading towards a data- driven approach, however a lot of organizations are still not well-equipped with it and we need a lot of practice, training and time to effectively understand how we can get the best results out of our big data. In the following years, it will be no wonder if we see changes when it comes to that! 7. “77% of enterprises expect to use the cloud for big data in the future” -Pixabay Marketers seem to agree with using cloud for storing big data.
Cloud big data costs are going down exponentially while AI technology is making these services better all the time.
- “66% of enterprises believe big data is strategic or game-changing” -Pixabay
Comes as no surprise! The number is likely to only increase in the following years. Big Data is truly game-changing and it will not be a wonder if 100% of enterprises agree with the same by 2020. These were quite a few staggering statistics, weren’t they? The world had been moving slowly to data and right now big data has been successfully embraced and welcomed into our business world. The advantages of big data are limitless and it helps us get insights on anything and everything! From NASA to healthcare industries to digital companies, one thing remains the same and that is BIG DATA.
Rely on machines and reduce human efforts and increase your sales and revenue to an unimaginable amount! Are you tempted to take that leap of faith and invest in big data?
Success is right outside your comfort zone. Get out of that comfort zone and achieve your best goals here with us. We, at DataCaptive want to help you achieve that dream by providing you with the best databases that are available in the market today and we hope to guide you through your journey.