"The State of the Data Race 2022" revealed that the data race is not only heating up, but rapidly shifting toward real-time data — the data that powers in-the-moment use cases such as recommendations and personalization, or always-up-to-date inventory and logistics.
According to 78% of respondents’ real-time data is a “must-have,” not a “nice-to-have.”
The report found that real-time data pays off in two important ways: it leads to increased revenue growth and improved developer productivity. For instance, 71% of all respondents said that they can tie their revenue growth directly to real-time data.
When looking at data leaders—organisations that excel at leveraging data to create new products and new revenue streams—the advantages become even more pronounced.
Among those organisations that make real-time data a strategic focus, 42% experience a transformative impact on revenue growth, compared to only 18% of those organisations that don’t prioritise 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, however, go beyond improving revenues: When asked how the use of real-time data has impacted developers’ jobs, 66% of organisations with a strategic focus on real-time said that developer productivity improved.
"Real-time data is like the Mediterranean Diet: all healthy benefits with no downside," said 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."
Kirschner added, "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."
DataStax’s open data stack for real-time applications–which includes Astra DB, a multi-cloud database as a service (DSaaS) built on Apache Cassandra, and Astra Streaming, multi-cloud streaming as a service built on Apache Pulsar–eliminate barriers to creating real-time applications for developers.
With DataStax’s pay-as-you-go cloud services, the complexity of deploying real-time applications is no longer the barrier it once was, and real-time data infrastructure is accessible by any organisation.
Developers for many of the largest global organisations are using DataStax’s open data stack to build scalable, secure real-time applications. Siggy.ai, a real-time recommendation app that integrates with Shopify, for instance, was able to quickly build an in-the-moment AI-powered recommendation engine for online shoppers using DataStax Astra DB.
While Alpha Ori, which offers digital solutions to maritime shipping enterprises to provide intelligent analytics, alerts, and insights to vessel stakeholders both aboard and onshore, is able to get high read and write throughput for large volumes of data, allowing Alpha Ori to rapidly deliver analytics and alerts for predictive maintenance, fuel savings, enhanced asset utilization, and more.
