Data-driven development is no longer just a buzzword. Or a series of buzzwords, if you want to put it that way.

In today’s fast-paced digital world, having the correct data and using it to your advantage could be the deciding factor between being the next Netflix, Spotify, or Tesla or becoming the next Blockbuster. And we all know where that will get you, right?

Data-driven development is the solid foundation on which any successful strategy is built. In a highly competitive digital sector constantly evolving and producing more and more information, this can prove to be vital to you, your brand, and your business.

Sure, intuition is excellent, but having that intuition backed up by factual data about your company, your competition, your industry, and last but not least, your clients will definitely help.

Care to have a look at the numbers?

Data-Driven Development Statistics for 2022

In case you were still wondering just how significant data-driven development is and what numbers this industry can generate, we’ve piled up some exciting stats to paint a clearer picture. You can thank us later. Now it’s time to grab your popcorn and let yourself be amazed by… DATA.

• The global big data industry is worth $274.3 billion, as of this year.

That's like Jeff Bezos', Bill Gates', and Elon Musk's total net worth. So yes, the number is relatively high.

Sure, data-driven development is just a part of what Big Data encompasses. Still, it's a constantly growing component in one of the fastest-moving digital sectors of our time.

If this doesn't surprise you, how about the fact that:

• 95% of all businesses struggle to manage unstructured data?

More than 9 out of 10 companies have severe issues implementing a data-driven approach inside their organizations.

You’re losing all your advantages due to a lack of a reliable data-driven development process that could offer you the much-needed insights to take your company to the next level.

Just imagine how far your business could go if you had 95% more variables working in your favor?

We’re not saying that the percentages will always be that high. Still, in this economic environment, every 1% of the market share you can get your hands on counts.

• By now, the fact that the US economy loses approximately $3.1 trillion annually, due to lack of data-driven development shouldn’t surprise you that much. 

To put things in a better perspective, that's close to three times the annual GDP of Spain.

We're sticklers for data, and we want to show you how much can be gained from collecting your organization's data correctly, using a qualitative approach instead of a quantitative one.

• Did you know that Netflix saves over $1 billion annually with customer retention by using data-driven development?

Netflix understands how data should be collected and used to its advantage. And that “how” is through the proficient use of data-driven development in all aspects of their daily operations.

And we can help you out with that. It’s kind of our bread and butter.

mindit.io takes your data to the next level. Where it should be.

Our specialists live and breathe data. It’s the oxygen that fuels their professional drive because each and every person operating with data does so out of pure passion.

Let’s be honest. Nobody becomes a specialist in this sector by chance. You have to love working with clients and partners from all industries, understanding their needs and requests, and helping them build a strong process that will enable them to become data-driven enterprises.

At mindit.io, we want to help you start collecting data so you can make the best decisions possible for your company, using well-structured data, not just hunches and intuitions.

Let’s get in touch and see how we can help. Let’s get to fully know your business. Together.

Check out our Case Studies for more information regarding data-driven development.