The phrase "data is the new oil" highlights the transformative potential of data in today’s economy. By 2025, global data creation is projected to exceed 463 exabytes daily. Businesses that effectively harness insights from this explosion of data gain a significant edge. Data-driven organizations are 23 times more likely to acquire customers, 19 times more likely to be profitable, and grow seven times faster than GDP.
Despite this promise, many organizations struggle with legacy infrastructure, data silos, and high latency. Databricks addresses these challenges with its Lakehouse, combining the scalability of data lakes with the performance and governance of data warehouses. This unified approach empowers businesses to streamline analytics and scale machine learning (ML), positioning Databricks as a key enabler of data-driven transformation.
AI and data analytics
The global data analytics market, estimated to grow from $272 billion in 2022 to $655 billion by 2029, presents a unique opportunity for organizations to leverage data as a strategic asset. Databricks, founded by the creators of Apache Spark, Delta Lake, and MLflow, is at the forefront of this revolution. Its Lakehouse Platform unifies data, enhances collaboration, and accelerates ML adoption, enabling real-time insights and seamless workflows across diverse use cases.
Since its inception in 2013, Databricks has grown to serve over 7,000 customers, including industry leaders like Microsoft, Apple, Disney, and HSBC. With a revenue run-rate surpassing $3 billion and year-over-year growth exceeding 60%.
While Databricks and other platforms, such as Snowflake, address different layers of the data ecosystem, Databricks has carved a niche in advanced AI analytics. Its open, unified approach enables organizations to fully operationalize data science and ML while avoiding vendor lock-in, making it an essential partner for businesses navigating the complexities of the data economy.
Unique potential
Databricks is uniquely positioned to capitalize on the exponential growth of data analytics and ML. By addressing critical infrastructure challenges and offering an open, unified platform, Databricks empowers organizations to unlock the full potential of their data. Its impressive growth trajectory, innovative solutions, and commitment to open-source principles ensure its continued leadership in the evolving data landscape.