Are you looking to add Big Data Analytics to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Big Data Analytics statistics of 2024.
My team and I scanned the entire web and collected all the most useful Big Data Analytics stats on this page. You don’t need to check any other resource on the web for any Big Data Analytics statistics. All are here only đ
How much of an impact will Big Data Analytics have on your day-to-day? or the day-to-day of your business? Should you invest in Big Data Analytics? We will answer all your Big Data Analytics related questions here.
Please read the page carefully and don’t miss any word. đ
On this page, you’ll learn about the following:
Best Big Data Analytics Statistics
â° Use “CTRL+F” to quickly find statistics. There are total 152 Big Data Analytics Statistics on this page đBig Data Analytics Benefits Statistics
- BARC, reported that organizations are reaping the benefits of Big Dataâ 69% chance of better strategic decisions, 54% chance of enhanced operational process control, 52% for a better understanding of consumers as well as 47% for effective cost reduction. [0]
- The organizations that are reaping the benefits of Big Data reported an average 8% increase in revenues while there is a 10% reduction in costs. [0]
- While the majority of high rolling companies can see the benefits of big data when it comes to cost savings, only 4.8% of respondents consider saving their budget to be a major factor that drives investments. [1]
- According to Sigma Computing, the benefits of big data are clear to many companies, yet around 63% of employees say they canât get insights from their solutions in the right timeframe. [2]
- A study by BARC indicates multiple benefits for using a big data initiative, including better strategic decision making (69%), improved control of operational processes (54%), and improved understandings of customers (52%). [2]
Big Data Analytics Usage Statistics
- At the time, researchers dealing in the field believed that 22% was the maximum potential a company could draw from big data usage. [1]
Big Data Analytics Market Statistics
- Fast forward to 2019, and the Big Data banking analytics market had hit $29.87 billion, which was set to grow at a CAGR of 12.97% between 2020. [3]
- According to statistics about Big Data in healthcare, the global Big Data healthcare analytics market was worth over $14.7 billion in 2018. [3]
- According to Wikibon, the big data analytics market is expected to reach $49 billion with a compounded annual growth rate of 11%. [3]
- The data market’s growth will be 7% from 2025 to 2027. [3]
- While exploring global data market growth forecast from Statista, we discovered that big data had the highest growth rate in 2012 (61%) and 2013 (60%). [3]
- While going through big data growth statistics, 2018 saw big data market growth of 20%, and in 2019, the big data market grew by 17%. [3]
- In 2020, the big data market grew by 14%. [3]
- According to Big Data statistics, the Big Data market is currently worth $138.9 billion. [3]
- The Big Data and business analytics revenue report from Statista showed the forecast of the Big Data market that it will grow to US$274.3 billion by 2024 with a five year CAGR of 13.2%. [0]
- Statista, forecasted that the Big Data market segment will grow up to US$103 billion by 2027 with a share of 45% from the software segment. [0]
- Big data statistics from 2018 reveal the size of the global big data and analytics market, which is forecast to grow at a compound annual growth rate of 13.2% to a staggering $274.3 billion by 2024. [1]
- While itâs estimated that the overall cash value of the market will reach $103 billion in the next three years, this figure could double by 2027. [1]
- According to big data growth statistics, the market in 2019 was expected to grow by 20% compared to 2018. [1]
- The largest share of this revenue comes from spending on services, which accounted for around 39% of the market in 2019. [1]
- Apart from banking, other industries that hold a major share of the market when it comes to big data analytics revenue are discrete manufacturing (11.7%), process manufacturing (8.7%), professional services (7.9%), and governments (7.1%). [1]
- In 2019, itâs estimated that the market was worth around $189 billion. [1]
- Percentage of 1519 year olds not in education, by labour market status “.dx.doi.org.doi10.1787/888933119055. [4]
Big Data Analytics Software Statistics
- Statista, forecasted that the Big Data market segment will grow up to US$103 billion by 2027 with a share of 45% from the software segment. [0]
- In 2021, there is 24% in services, 16% in hardware, and 24% in software while there will be 33% in services, 24% in hardware as well as a whopping 46% in software use in 2027. [0]
Big Data Analytics Adoption Statistics
- While the Banking sector generates the largest amount of data, it may come as a surprise that financial service companies have the lowest rate of A&BI adoption, coming in at 29%. [5]
- 73.4% of companies still report business adoption of Big Data and AI initiatives as a challenge. [5]
Big Data Analytics Latest Statistics
- However, 90 percent of the data in the global datasphereis replicated data, while only 10 percent is unique data. [6]
- 95% of businesses cite the need to manage unstructured data as a problem for their business. [3]
- 97.2% of organizations are investing in big data and AI. [3]
- What’s more, 15% of all new Google searches have never been typed before!. [3]
- According to global statistics on Big Data technologies, on average, poor data quality costs businesses worldwide anywhere between $9.7 million and $14.2 million yearly. [3]
- 45% of businesses worldwide are running at least one of their Big Data workloads in the cloud. [3]
- Although the cloud houses 67% of enterprise infrastructure , only a small percentage of businesses are currently utilizing it for Big Data operations. [3]
- 80 90% of the data we generate today is unstructured. [3]
- As of 2013, a whopping 64% of the global financial sector had already incorporated Big Data as a part of their infrastructure. [3]
- By the end of 2019, it was already worth $22.6 billion and is expected to grow at a CAGR of around 20%. [3]
- According to big data stats, cyber scams have gone up 400% at the start of the pandemic. [3]
- Storage for this data will grow at a Compound Annual Growth Rate of 19.2% during the forecast period. [3]
- That’s a big change considering that users only stored 2% of the data in 2020. [3]
- Data interactions went up by 5000% between 2010 and 2020. [3]
- Big data stats show that the creation, capturing, copying, and consumption of data went up by a whopping 5000% between 2010 and 2020. [3]
- In 2012, only 0.5% of all data was analyzed. [3]
- According to IDC’s Digital Universe Study from 2012, only 0.5% of data is analyzed, while the percentage of tagged data is a bit higher at 3%. [3]
- According to big data statistics from IDC, in 2012 only 22% of all the data had the potential for analysis. [3]
- The same source said that by 2020, the percentage of useful data, i.e., the information that has the potential for analysis, would jump to 37%. [3]
- With the estimated amount of data we had in 2020 , we have to ask ourselves what’s our part in creating all that data. [3]
- According to the latest Digital report, internet users spent 6 hours and 42 minutes on the internet which clearly illustrates rapid big data growth. [3]
- Lastly, the same source discovered that out of the total time digital users spend online, 33% is reserved for social media. [3]
- Apart from social media, 16% of the time users spend online goes to online TV and streaming , and another 16% to music streaming. [3]
- Online press takes a 13% share of total online time, whereas the remaining 22% of the time is reserved for other online activities. [3]
- 62.5% of participants said their organization appointed a Chief Data Officer , which indicates a fivefold increase since 2012 (12%). [3]
- Additionally, a record number of organizations participating in the study have invested in big data and artificial intelligence initiatives at 97.2%. [3]
- The highest percentage of organizations (60.3%). [3]
- Nearly one third of participants (27%). [3]
- Lastly, only 12.7% of participants said their companies invested more than $500 million. [3]
- That will decrease even further, only growing by 7% by 2027. [3]
- According to RJMetrics, in 2015, there were between 11,400 and 19,400 data scientists worldwide. [3]
- As at the end of 2019, worldwide spending on Big Data was already worth $180 billion , and it was projected to grow at a CAGR of 13.2% between 2020 and 2024. [3]
- By 2024, it will increase by a Compound Annual Growth Rate of 26%. [3]
- Data science jobs will increase by around 28% by 2026. [3]
- The 2024 technology predictions show that jobs in the data science field will increase by nearly 30% by 2026. [3]
- Data is growing at a CAGR of 10.6%. [3]
- It also reported that the installed base of storage capacity will increase at a compound annual growth rate of 19.2% from 2020 to 2025. [0]
- Forbes, predicted that more than 150 zettabytes or 150 trillion gigabytes of real time data will need analysis by 2025. [0]
- Forbes found that over 95% of companies require some help to manage the multiple sets of unstructured data while 40% of companies claimed that they need to deal with Big Data more frequently. [0]
- StrategyMRC, predicted that the Hadoop and Big Data Market will experience substantial growth from US$17.1 billion in 2017 to US$99.31 billion in 2024 with a 28.5% CAGR. [0]
- According to Wikibon, the Big Data and analytics, and application database solutions are expected to grow from US$6.4 billion in 2017 to US$12 billion by 2027 with a 6% CAGR, within a span of ten years. [0]
- The result showed that 39% were not sure about the data driven culture in organizations, 46% admitted that the lack of domain expertise creates a challenge for delivering relevant data models. [0]
- According to ReedSmith, the outbreak of the coronavirus pandemic has increased the rate of Big Data breaches and cyberattacks like scams, phishing, and ransomware to above 400%. [0]
- By 2025, itâs estimated that the global datasphere will grow to 175 zettabytes. [5]
- By 2024, the big data industry will be worth an estimated $77 billion, which is roughly 70% of Bill Gatesâ net worth. [5]
- By analyzing their 100 million subscribers, Netflix was able to influence 80% of content viewed by subscribers due to accurate data insights. [5]
- The amount of data generated each second in the financial industry will grow 700% in 2021. [5]
- Unstructured and semi structured data now make up an estimated 80% of data collected by enterprises. [5]
- 81.7% of companies have a mix of legacy and modern cloud technologies â highlighting the rapid transition to the cloud continues year over year. [5]
- Yet, 63% of employees report they cannot gather insights in their required timeframe. [5]
- Most companies only analyze 12% of the data they have. [5]
- You got it, that means 88% of data goes unanalyzed. [5]
- Almost half (48%). [5]
- 51% of business domain experts say there are no reporting bottlenecks, while only 6% of data and BI experts come to the same conclusion. [5]
- Only 26% of companies say they have achieved a data driven culture, leaving the other 73% of companies in the dust. [5]
- Argentina, comes in first with a 20.8% compound annual growth rate. [5]
- The desire to arm employees with insights has 62% of companies claiming self service business intelligence is essential in 2021. [5]
- According to statistics based on a survey conducted by Sigma, about 71% of business experts have a desire to improve their data literacy skills. [5]
- A 2011 McKinsey report predicted shortage of talent necessary for organizations to take advantage of big data. [7]
- Rather than Gigabytes and Terabytes, nowadays, the data produced are estimated by zettabytes, and are growing 40% every day. [7]
- The percentages of models selected among the 24 models by each of the three criteria are summarized in Table 1. [7]
- Emerson and Kane suggested that a data set would be considered large if it exceeds 20% of RAM on a given machine and massive if it exceeds 50%, in which case, even the simplest calculation would consume all the remaining RAM. [7]
- Under the current settings,RRE has a clear advantage in fitting with only 8% of the time used by the other two approaches. [7]
- By 2024, this figure is expected to effectively double at a CAGR of 13.3%. [1]
- In fact, according to statistics on big data, such companies are already thriving, reporting an average growth of more than 30% annually. [1]
- However, if we go further back, weâll see that in 2012 and 2013 the growth rates were as high 61% and 60% respectively. [1]
- Although a slowdown is expected in the next few years, big data statistics suggest a 7% increase between 2025 and 2027. [1]
- Deduced from data volume growth, experts estimate that retail will take the biggest share between 2018 and 2024, at a CAGR of 13.5%, with banking landing coming in second at a CAGR of 13.2%. [1]
- In 2019, the revenue stemming from big data was estimated to be $9.6 billion. [1]
- At a 23.5% compound annual growth rate, this figure is expected to hit $22.49 billion in the period between 2019 and 2024. [1]
- Big data statistics from 2017 determined that 90% of online data in the world had been generated just two years earlier. [1]
- The top two issues are followed closely by customer/social analysis and predictive maintenance at 70%. [1]
- Big data statistics show that 97.2% of major worldwide organizations are focusing investments into big data and AI. [1]
- A study conducted over 60 Fortune 500 corporate giants concluded that as many as 62% of companies appoint a chief data officer , whose job is to run data analytics and statistics. [1]
- As for investments, around 60% answered that their big data analytics budget is under $50 million. [1]
- As for those companies that invest more, 27% confirmed their budget stretches between $50 and $500 million, with another 12.7% of those going beyond $500 million when it comes to big data statistical analysis. [1]
- In addition, 75% of the executives who took part in the survey agreed that fear of disruption from competitors also serves as a great driving force when it comes to motivation for big data investments. [1]
- A 2018 survey showed that 30% of global organizations were planning to implement uses of statistics in big data management sometime in 2019. [1]
- Another 12% said they had planned to do so in 2018. [1]
- According to statistics for big data based on a 700 participant survey, as few as 3% of the respondents reported they were capable of answering their customersâ requirements by using data analytics and statistics. [1]
- On the other hand, 21% said they make little use of their analysis. [1]
- The companies that took part in the 2012 survey pinpointed reasons why they were only capable of analyzing around 12% of the available data. [1]
- This study based on 330 participants also concluded that as many as 31% of respondents consider the issue to be ânot very important.â. [1]
- However, 42% agree that big data security analytics will become an issue of great importance in the future. [1]
- The figure represents a 35% increase compared to 2015 when the last estimate regarding data science job openings was made. [1]
- Well, for one thing, this data helps the company direct preferences via a big data recommendation system that influences 80% of the content you are offered. [1]
- By using Big Data to compile lists of preferred students, the University has reduced its reliance on services such as the College Board and ACT by 40%. [1]
- ResearchandMarkets.com has estimated that the industry is set to continue growing at a combined annual growth rate of 29.7%. [1]
- Itâs estimated that around 2.5 quintillion bytes of data are generated per day. [1]
- According to a 2013 article on MLB.com, âMoneyball has played a role in 15 of 30 teams getting into at least one postseason seriesânot a Wild Card Game, but a postseason seriesâthe last three years. [8]
- Budget Officeestimated that extending theBush tax cutsof 2001 and 2003 for the 2011â2020 time period would add approximately $3.3 trillion to the national debt. [4]
- Watson, Kevin; Halperin, Israel; AguileraCastells, Joan; Iacono, Antonio Dello .”Table 3 Descriptive , inferential (95% CI). [4]
- 97.2% of organizations say theyâre now investing in AI and big data. [2]
- Around 95% of companies says their inability to understand and manage unstructured data is holding them back. [2]
- Only around 26% of companies say theyâve achieved a data driven culture, despite this massive amount of data creation. [2]
- A 2020 report by MicroStrategy found that around 94% of companies believe that data and analytics will be essential to the growth of their company, and their digital transformation. [2]
- Sigma went on to reveal that around 39% of business domain experts donât know what it means to be data driven. [2]
- And 76% of data experts say half of their time is spent making ad hoc reports for teams. [2]
- Forrester reports suggest that between 60 and 73% of all data is never used for analytical purposes. [2]
- Only around 3% of the companies studied in total werenât having challenges accessing big data. [2]
- A Dresner Advisory services report found that 36% of companies see big data as crucial in their organizations. [2]
- Around 29% said that big data was very important, 20% it was important while 12% rated it as âsomewhat importantâ. [2]
- This is a significant increase in data interest since 2018, when Dresner insights found only 60% of companies using data. [2]
- An IDC worldwide spending report on Big Data found that banking 14% and discrete manufacturing 12% were the two biggest channels for big data investment, followed by process manufacturing, professional services, and the government. [2]
- The industries mentioned above made up around 50% of global revenue generation for big data investments in 2018. [2]
- The revenues for big data analytics are expected to reach around $88 billion in 2018, with a growth of 13.2% on the horizon. [2]
- The company estimated that around $3.1 trillion is lost on poor data analytics each year. [2]
- These strategies were marked important by 80% of respondents. [2]
- Additionally, customer and social analysis, fraud detection, and predictive analysis were marked as crucial by more than 70% of the respondents. [2]
- This gives healthcare big data solutions a growth rate of around 19.1% CAGR. [2]
- Data driven companies are 23 times more likely to acquire customers. [2]
- McKinsey reports demonstrate that data driven organizations with insights into customers are 23 times more likely to collect new clients. [2]
- Theyâre also 6 times more likely to maintain the customers they gain. [2]
- Data driven companies are also 19 times more likely to achieve and maintain a profitable status, compared to companies which donât use data. [2]
- Around 47% of customers also said that they had reduced process costs thanks to data analytics. [2]
- Accentureâs study into the success rates of big data found that almost 79% of people believe that companies who fail to embrace big data could risk bankruptcy. [2]
- The study also found that around 51% of companies strongly agree that big data will revolutionize the way they do business. [2]
- Additionally, 39% strongly agreed that big data will dramatically change their operations in the future. [2]
- Fortunate 1000 companies could earn more than $65 million in additional income if they only increased their data visibility by 10%. [2]
- According to senior analyst Richard Joyce, currently only around 0.5% of all data is properly analyzed. [2]
- McKinseyâs studies on Big Data as the next frontier for innovation and competition found that businesses embracing big data analytics could increase operating margins by up to 60%. [2]
- An additional McKinsey study found that exploiting data analytics in retail organizations could be enough to boost profits by more than 60%. [2]
- According to Org, thereâs so much data available online today, that it would take around 181 million years to download everything. [2]
- New Vantage Partners revealed in 2019 that around 97.2% of companies are investing in both big data, and artificial intelligence. [2]
- Right now, around 71% of business experts already say theyâd like to improve their data literacy skills, and the number of data focused jobs is growing all the time. [2]
I know you want to use Big Data Analytics Software, thus we made this list of best Big Data Analytics Software. We also wrote about how to learn Big Data Analytics Software and how to install Big Data Analytics Software. Recently we wrote how to uninstall Big Data Analytics Software for newbie users. Donât forgot to check latest Big Data Analytics statistics of 2024.
Reference
- analyticsinsight – https://www.analyticsinsight.net/top-10-big-data-statistics-you-must-know-in-2021/.
- dataprot – https://dataprot.net/statistics/data-statistics/.
- findstack – https://findstack.com/big-data-statistics/.
- techjury – https://techjury.net/blog/big-data-statistics/.
- wikipedia – https://en.wikipedia.org/wiki/Data_analysis.
- sigmacomputing – https://www.sigmacomputing.com/blog/top-20-big-data-statistics/.
- statista – https://www.statista.com/topics/1464/big-data/.
- nih – https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5041595/.
- wisconsin – https://datasciencedegree.wisconsin.edu/blog/moneyball-proves-importance-big-data-big-ideas/.
How Useful is Big Data Analytics
One of the key advantages of big data analytics is its ability to uncover patterns and trends that would otherwise remain hidden in traditional data analysis methods. By processing and analyzing vast amounts of structured and unstructured data, organizations can gain a deeper understanding of customer behavior, market dynamics, and operational efficiency. This invaluable insight allows businesses to make more informed decisions, tailor their offerings to meet customer needs, and stay ahead of the competition.
Furthermore, big data analytics enables organizations to predict future trends and outcomes with a high degree of accuracy. By employing advanced predictive modeling techniques, businesses can anticipate customer preferences, market shifts, and emerging opportunities, allowing them to proactively respond and adapt to changing circumstances. This proactive approach not only minimizes risks but also maximizes returns, setting organizations up for long-term success in a rapidly evolving marketplace.
In addition to predictive analytics, big data can also be harnessed for prescriptive analytics, which goes beyond predicting outcomes to recommending actions to achieve desired results. By leveraging real-time data feeds, organizations can optimize their decision-making processes and operational strategies, driving efficiency, cost savings, and overall performance. This targeted approach enables businesses to identify and capitalize on growth opportunities, mitigate risks, and ensure sustainable growth and profitability.
Moreover, big data analytics plays a critical role in enhancing customer experiences and engagement. By analyzing customer data from multiple touchpoints, businesses can gain a 360-degree view of their customers’ preferences, behaviors, and expectations. This deep understanding allows organizations to create personalized and targeted marketing campaigns, offer tailor-made products and services, and deliver exceptional customer service. By enhancing customer interactions and building stronger relationships, businesses can foster loyalty, drive repeat business, and expand their customer base.
Despite these myriad benefits, it is essential for organizations to approach big data analytics with caution and responsibility. With the rise of data privacy concerns and regulatory requirements, businesses must prioritize data security, compliance, and ethics in their analytics practices. By implementing robust data governance frameworks, ensuring data transparency and consent, and protecting customer information, organizations can build trust and credibility with their stakeholders and safeguard their reputation in an increasingly data-driven world.
In conclusion, big data analytics is a powerful tool that has the potential to transform the way organizations operate, innovate, and compete in today’s dynamic business landscape. By unlocking the insights hidden within vast volumes of data, businesses can gain a competitive edge, drive growth, and deliver exceptional value to their customers. With the right strategies, technologies, and ethical considerations in place, big data analytics can be a game-changer for organizations looking to thrive in an era of digital disruption.
In Conclusion
Be it Big Data Analytics benefits statistics, Big Data Analytics usage statistics, Big Data Analytics productivity statistics, Big Data Analytics adoption statistics, Big Data Analytics roi statistics, Big Data Analytics market statistics, statistics on use of Big Data Analytics, Big Data Analytics analytics statistics, statistics of companies that use Big Data Analytics, statistics small businesses using Big Data Analytics, top Big Data Analytics systems usa statistics, Big Data Analytics software market statistics, statistics dissatisfied with Big Data Analytics, statistics of businesses using Big Data Analytics, Big Data Analytics key statistics, Big Data Analytics systems statistics, nonprofit Big Data Analytics statistics, Big Data Analytics failure statistics, top Big Data Analytics statistics, best Big Data Analytics statistics, Big Data Analytics statistics small business, Big Data Analytics statistics 2024, Big Data Analytics statistics 2021, Big Data Analytics statistics 2024 you will find all from this page. đ
We tried our best to provide all the Big Data Analytics statistics on this page. Please comment below and share your opinion if we missed any Big Data Analytics statistics.