While there has been a recent flourish around data science, and vast pressures surrounding big data – the matter of putting it together into a business case has become difficult.
So we’ve made your life that bit easier – we’ve compiled together 5 relevant, and important big data stats.
These show its value, and why you need to think about them in context of your organisation.
5. Adjusting to big data
A significant part of any trend is about correctly timing your involvement. Gartner notes the laggards below.
“Through 2017, fewer than half of lagging organizations will have made cultural or business model adjustments sufficient to benefit from big data.”
Many CTO’s are weary about investing into things that are believed to be ‘the next big thing’. These types of phrases are frequently thrown about to, however the tech community has spoken, and it looks set to be as impactful as the Internet…
“A vast majority of users (89%) believe big data will revolutionise the way business is done in the same way the Internet did.”
While we have made great leaps in Big Data, it is important to recognise the enormous opportunities for those willing to take advantage of it. While it may seem easier to wait for more use cases, the margins are greater than they will ever be.
“Less than 0.5% of all data is ever analysed and used”.
Source: Technology Review
Rather than just keeping it in a silo, it’s important to see how when integrated with other activities, Big Data can have quantifiable outcomes. This is a great example for healthcare, but such business benefits can be seen across the board.
“Estimates suggest that by better integrating big data, healthcare could save as much as $300 billion a year — that’s equal to reducing costs by $1000 a year for every man, woman, and child.”
Bonus reading: see how we have integrated IoT with healthcare.
The matter of competitive advantage is really essential when you consider embracing Big Data. It also gives a content of how you act within your market.
“65% of global C-suite level execs and senior decision-makers surveyed said that their organizations will risk becoming irrelevant or uncompetitive if they do not embrace big data.”
Source: CIO Insight
While it may seem that this type of change is industry specific, there are digital transformation examples from a variety of sectors – such is why these big data stats are so relevant.
Well there you go, 5 big data stats that will hopefully give you the ammunition to show its impact and how industry leading publications are viewing the subject.
These stats cover 5 topics:
Let us know which one of the big data stats was the most interesting below. Should you wish to learn more, download this guide on choosing your IT Partner ⇓