The Big Data Gold Rush
Don’t believe us, here’s what is predicted for 2020
We will have over 6.1 billion smartphone users globally (1)
About 1.7 megabytes (2) of new information will be created every second for every human being on the planet.
There will be over 50 billion smart connected devices (3) in the world, all developed to collect, analyze and share data.
For a typical Fortune 1000 company, just a 10% increase in data accessibility will result in more than $65 million additional net income (5).
60% of information delivered to decision makers will be considered by them always actionable, doubling the rate from the current (2015) level. (6)
50% of all business analytics software will incorporate prescriptive analytics built on cognitive computing functionality. (6)
90% of databases (relational and nonrelational) will be based on memory-optimized technology. (6)
Organizations able to analyze all relevant data and deliver actionable information will achieve an extra $430 billion in productivity benefits over their less analytically oriented peers. (6)
The industries driving much of this growth include banking, discrete manufacturing, process manufacturing, federal/central government, and professional services and will remain the top five industries through 2020 (7)
IDC says that worldwide revenues for big data and business analytics will grow from $130.1 billion in 2016 to more than $203 billion in 2020, at a compound annual growth rate (CAGR) of 11.7%.