Big data has become a big deal, and it’s causing many organizations to ask, “Does big data equal big value for my business—or is it mostly big hype?” “What differentiates the big data programs that generate value from those that do not?” and “Just how much value can big data achieve?” The answers to these questions might surprise you.
BCG teamed up with Amazon to quantify the benefits of using big data. The survey, which studied 167 companies in five sectors, examined what differentiates the leaders from the rest of the pack and explored how they gain competitive advantage from big data analytics.
The survey showed that leaders in big data generate an average of 12% more revenue than those that do not maximize their use of analytics. Leaders also have faster growth rates and a greater ability to innovate than their peers do.