The use of big data analytics is on the rise and it will play a central role in business operations for years to come.
This has largely been driven by two things: the proliferation of big data in SMBs; and the ability to afford and implement technologies that can leverage this data—most notably ERP tech.
What SMBs want to know is: How will big data analytics actually help my business, and what improvements will I see from these initiatives?
We’ve put together this infographic to show you how organizations are benefitting from data analytics. Take a look!
Technology solutions are becoming an increasingly important factor in the budgets of modern SMBs. Modern systems help centralize and analyze your data, giving you actionable insights for better decision-making. Learn more about how our business intelligence consulting services can help your organization.
Infographic text:
Big data is here to stay, and the capability of businesses to leverage the data sets and information in their companies will be a determining factor in their competitiveness both today and in the future. Analytics, and the ability to retrieve actionable insights from data, are key. Here are 10 ways analytics give businesses a boost!
- By 2022, 90% of corporate strategies will explicitly mention information as a critical enterprise asset and analytics as an essential competency.
- Data-driven organizations are now 23x more likely to acquire customers, 6x as likely to retain customers, and 19x more likely to be profitable.
- 83% of business leaders have pursued big data projects in order to seize a competitive edge.
- 63% of organizations report that the use of big data and analytics is creating a competitive advantage for their business.
- Using big data to the fullest can increase a business’s operating margin by more than 60%.
- Businesses surveyed in a BARC report that use big data saw an average profit increase of 8%, and a 10% reduction in overall cost.
- 76.5% of executives agree that the proliferation and availability of data is empowering AI and cognitive learning initiatives within their firms — in essence, leveraging big data has knock-on effects.
- 73% of businesses said they have received measurable value from implementing big data initiatives.
- Data-driven marketing leaders are 6x more likely to gain competitive advantages and profitability.
- The average ROI for enterprises using business intelligence and analytics is 1300%.
