The business intelligence market is heating up – and there have been a number of exciting developments over the last couple of years. Here we take a look at some of the key statistics surrounding the industry and explore forecasts into its future. We hope these facts help to shed some light on the direction in which the business intelligence market is going – and they may even help your business prepare for the challenges to come.
- It is estimated that approximately 2.7 Zetabytes of data exist in the digital universe today.
- According to estimates, the volume of data collected by businesses worldwide doubles every 1.2 years.
- Poor data or ‘lack of understanding the data’ are cited as the primary reason for overrunning project costs and could cost businesses 20%–35% of their operating revenue.
- Poor data quality costs US businesses up to $600 billion annually/