It’s frightening to think just how much data can impact the bottom lines of brands today. Recent examples such as the fall of Blockbuster and the rise of Netflix show that the use of data and analytics can drive scary-good results, while not using data can lead to the demise of even the biggest and best-known brands.
Treat yourself to the 13 shocking data and analytics statistics below—they show that an investment in data and analytics initiatives is a necessity for business growth and survival:
- By 2025, IDC predicts that the total amount of digital data created worldwide will rise to 163 zettabytes, ballooned by the growing number of devices and sensors. —IDC Data Age 2025
- By 2025, the amount of the global datasphere subject to data analysis will grow by a factor of 50 to 5.2 zettabytes. —IDC Data Age 2025
- By 2025, more than a quarter of all data created will be real-time, with 95% of that data generated by the Internet of Things. —IDC Data Age 2025
- In 2025, the IoT data analyzed and used to change business processes will be as much as all of the data created in 2020. —IDC Data Age 2025
- By 2025, 60% of the 163 zettabytes of existing data will be created and managed by enterprise organizations. —IDC Data Age 2025
- 90% of enterprise analytics and business professionals currently say data and analytics are key to their organization’s digital transformation initiatives. —MicroStrategy 2018 Global State of Enterprise Analytics Report
- 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. —Forrester Insights-Driven Businesses Set the Pace for Global Growth Report
- Only 16% of organizations can currently say that 75% or more of their employees have access to company data and analytics. —MicroStrategy 2018 Global State of Enterprise Analytics Report
- Data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable as a result. —McKinsey Global Institute
- 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. —HBR Closing the Customer Experience Gap Report
- Only 7% of marketers surveyed report that they are currently effectively able to deliver real-time, data-driven marketing engagements across both physical and digital touchpoints. —CMO Council, Empowering the Data-Driven Customer Strategy
- By 2020, there will be 2.7 million job postings for data science and analytics roles. —BHEF and PwC America’s Data Science and Analytics Talent: The Case for Action Report
- Through 2019, 90% of large organizations will have hired a CDO, but only 50% will be considered a success. —Smarter with Gartner: Keys to Success for Chief Data Officers
Ready to read more related data and analytics statistics? Download the 2018 Global State of Enterprise Analytics Report, detailing benefits, challenges, hiring trends, investment priorities and more for data-driven organizations.