Real time data is a must-have for enterprises
Real-time data is a 'must-have' not just a 'nice-to have' according to 78 percent of respondents to a new survey into the data strategies of more than 500 IT leaders.
The study from DataStax finds real-time data pays off in two ways: it leads to increased revenue growth and improved developer productivity. For example, 71 percent of all respondents say that they can tie their revenue growth directly to having real-time data.
Among those 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 percent) and increased market share (31 percent).
But it's not all about revenue, 66 percent of organizations with a strategic focus on real-time data say that their developer productivity improved.
"Real-time data is like the Mediterranean diet: all healthy benefits with no downside," says Bryan Kirschner, vice president, strategy, at DataStax. "The survey showed real-time data powers better digital experiences, which makes customers happy; it enables developers to be more productive, which makes development teams and CTOs happy; and it drives revenues, which makes boards and investors happy, especially in today's economic climate."
Implementing and benefiting from a real-time data strategy still comes with challenges though. Of the organizations surveyed 39 percent say complexity is the biggest hurdle they face when trying to leverage real-time data, followed by costs, (32 percent) and accessibility (30 percent).
Kirschner adds, "While the benefits of real-time data are widely recognized, survey respondents identified barriers -- such as data complexity, controlling data costs, and data accessibility -- to leveraging real-time data. Yet, new developments in data architectures are breaking down those barriers."
The full report is available from the DataStax site.
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