87% of companies believe that big data analytics will redefine their products and their competitive edge in their field over the next three years. 89% of companies that do not use data analysis will face the risk of losing market share and development momentum in the coming year.
The statistics and other data results are excerpted from a white paper published by Accenture and GE: How to redefine the future of an industry with big data analytics and IoT. The industrial Internet is defined by Accenture and GM in the white paper as: "This is a vast physical world, consisting of machines, devices, clusters, and networks that can combine deeper levels and connectivity, big data, digital analytics, and provide fresh, value-added services in a certain environment."
Big Data analytics is now considered to be one of the core competencies to keep businesses growing
According to Wikibon and GE's previous white paper, the global industrial Internet is expected to invest $500 billion by 2020, including the establishment of hardware, software and sales service systems. For more information, you can view it in the home page of Accenture and GE: How the Industrial Internet is changing the competitive Landscape of Industries.
The White paper also points out that most companies are still in the data analysis phase (36%), only 13% use big data to analyze predictions, and 16% leverage their analytical work to optimize operational processes and strategies.
The main points of the White paper are:
? 73% of companies have invested more than 20% of their total technology investment in big data analytics, with two-tenths of them investing more than 30% per cent. 76% of policymakers want to increase the proportion of investment. For a detailed illustration:
Big data analytics has rapidly become a major development project for Aviation (61%), Wind energy (45%) and manufacturing (42%) companies. An analysis of the share and status of big data in companies within the company for the white paper:
74% companies say their major rivals are already using data analytics and have successfully found their competitive advantage in the customer base, media and investors. 93% of companies use big data analytics to uncover their new competitors in the market and make big data analytics a key differentiation strategy. The single biggest risk for businesses without big data is that their rivals have gained more market share. Risk analysis for companies that do not use big data analytics for a period of time in the future.
65% of business goals are to monitor asset changes in order to identify problems and take action in a timely manner. 58% the enterprise's Big Data analysis tool can realize the operation data collection and the analysis production situation. is the content overview of Big Data monitoring:
? The white paper shows that: increased revenue (60%), increased competitive advantage (57%), improved production safety and compliance with emission standards (55%) are three of the biggest benefits for the industry sector. For details, please see:
? The three main challenges facing enterprises when using big data analytics: System failures between departments do not maximize data collection and Data Association (36%); Data security impacts the impact of big data on the Enterprise (35%); The combination of different data and the effective data result is used (29%). Overview of the three major challenges faced by enterprises in using big data analytics:
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Industrial Internet: More than 80% enterprises think big data analysis to increase the competitiveness of enterprises in the next annual meeting
