16% of Non-Financial Companies with 10+ Employees Used Big Data in 2018

The Luxembourg Business Profile in 2020 has revealed that 16% of non-financial companies employing at least ten people used Big Data in 2018. 

The Luxembourg Business Profile in 2020 provides an overview of the most recent official business statistics compiled by Statec. The themes addressed in the report are presented through questions, which business statistics attempt to answer.

The report found that the majority (97.5%) of companies in the non-financial market economy employed fewer than 50 people. Despite almost a third of these companies being under foreign control, the Luxembourg economy retained control of most (69%) of its companies. In the non-financial market economy, companies with 50 employees or less accounted for more than 40% of employment and almost 30% of turnover.

In addition, 16% of non-financial companies employing at least ten people were found to have used Big Data in 2018. The companies active in the production and distribution of electricity, gas and water constituted the branch of economic activity with the highest proportional use of Big Data (31%). 71% of them collected massive data via sensors or smart or connected devices. In the manufacturing industry, the proportion of companies obtaining data via such devices was 58%, compared to 46% in the information and communication branch.

Finally, the report revealed that nine out of ten companies created in 2016 survived into 2017. The best first-year survival rate was found in transportation and warehousing, where 98% of businesses created survived the first year, compared to 90% for the average market economy.