Big Data, analytics, IoT are no more just the buzzwords ringing in the corporate world. These technologies have revolutionised the way businesses are done today. These are becoming the key driving forces behind the global economy.
Let’s look at some of the super impressive stats and facts about big data, analytics, and IoT.
- 89% of the users believe that big data will revolutionise the way business is done in the same way the Internet did.
- By better integrating big data, healthcare could save around $300 billion a year – it is equal to reducing costs by $1000 a year for every man, woman, and child.
- For a typical Fortune 1000 company, an increase of 10% in data accessibility can result in over $65 million additional net income.
- Retailers can increase these operating margins by as much as 60% by leveraging the power of big data. (Source)
- Big data spending is expected to reach $114 billion in 2018. (Source)
- According to IDC, the estimated value of the big data market is expected to be $102 billion by 2019. (Source)
- To handle the big data projects, approximately 9 million IT jobs will be created (Source)
- Media and Financial Services sectors are experiencing 120% data growth rate every year. (Source)
- The top three areas where big data is delivering greatest performance improvements to manufacturing are: Better forecasts of product demand and production (46%), understanding plant performance across multiple metrics (45%) and providing service and support to customers faster (39%) (Source)
- By 2018, there will be 21 billion internet-connected products. (Source)
- IoT market will grow to $7.1 trillion by 2020. (Source)
- IoT can lead to a 15 percent productivity increase in delivery and supply chain performance for manufacturing companies
- The total business spending on IoT solutions will reach $6 trillion by 2021. (Source)
- By 2020, approximately 90% of cars will be connected to the Internet. (Source)
- 94% of all businesses have seen a return on their IoT investments.
At Inteliment, we have a sharp focus on Data Science and Big Data Analytics. We work with innovative companies all over the world and help them leverage the power of data to seek answers and actions to their complex business situations.