K
Kathleen Martin
Guest
The data race is not only heating up but rapidly shifting toward real-time data, according to a new report by data management firm DataStax.
This was the conclusion of the “The State of the Data Race 2022” report based on an in-depth survey of more than 500 technology executives and technical practitioners in the U.S. about their data strategies.
According to DataStax, real-time data is the data that powers in-the-moment use cases such as recommendations and personalization, or always-up-to-date inventory and logistics.
Benefits of real-time data
The report found that real-time data leads to increased revenue growth and improved developer productivity.
Specifically, almost four out of five (78%) of all respondents agreed that real-time data is a “must-have,” not a “nice-to-have.” Moreover, 71 percent of all respondents said that they can tie their revenue growth directly to real-time data.
The advantages of real-time are even more pronounced in organizations that excel at leveraging data to create new products and revenue streams.
For organizations that make real-time data a strategic focus, 42 percent experience a transformative impact on revenue growth, compared to only 18 percent of those organizations that don’t prioritize real-time data.
Other transformative impacts experienced by real-time data leaders include improved customer satisfaction (34%) and increased market share (31%).
The effects of real-time data go beyond improving revenues. When asked how the use of real-time data has impacted developers’ jobs, two-thirds (66%) of organizations with a strategic focus on real-time said that developer productivity improved.
Continue reading: https://www.cdotrends.com/story/17147/study-finds-link-between-use-real-time-data-revenue-growth?refresh=auto
This was the conclusion of the “The State of the Data Race 2022” report based on an in-depth survey of more than 500 technology executives and technical practitioners in the U.S. about their data strategies.
According to DataStax, real-time data is the data that powers in-the-moment use cases such as recommendations and personalization, or always-up-to-date inventory and logistics.
Benefits of real-time data
The report found that real-time data leads to increased revenue growth and improved developer productivity.
Specifically, almost four out of five (78%) of all respondents agreed that real-time data is a “must-have,” not a “nice-to-have.” Moreover, 71 percent of all respondents said that they can tie their revenue growth directly to real-time data.
The advantages of real-time are even more pronounced in organizations that excel at leveraging data to create new products and revenue streams.
For organizations that make real-time data a strategic focus, 42 percent experience a transformative impact on revenue growth, compared to only 18 percent of those organizations that don’t prioritize real-time data.
Other transformative impacts experienced by real-time data leaders include improved customer satisfaction (34%) and increased market share (31%).
The effects of real-time data go beyond improving revenues. When asked how the use of real-time data has impacted developers’ jobs, two-thirds (66%) of organizations with a strategic focus on real-time said that developer productivity improved.
Continue reading: https://www.cdotrends.com/story/17147/study-finds-link-between-use-real-time-data-revenue-growth?refresh=auto
