Confluent report-Real-time data analysis: what are the challenges?

The trend of putting data in motion via real-time streaming is gaining momentum. According to data from a new study, 97% of businesses use real-time data streaming, making it one of the most important technologies to thrive in today’s digital landscape. For the first edition of its State of Data in Motion report, Confluent, Inc. reviewed. (NASDAQ: CFLT) has 1,950 IT managers and engineers in six countries. The findings highlight how data in motion enables companies to support, retain and attract customers, now and in the future.

“Real-time data feeds are becoming essential to how we support our customers and run our business,” said Yael Gomez, vice president, Global IT, Integration and Intelligent Automation, Walgreens Boots Alliance. “Using high-quality mobile data, we can manage customer interaction, ensure the accessibility of vaccines and testing for patients, and enable a unique online sales proposal. An organization-wide effort in IT modernization has led to an increasingly seamless omnichannel experience. »

Motion data
The report reflects the growth of today’s data transfer market. It shows how real-time data influences everything a company does, from how employees work to how companies interact with their customers and deliver their products. However, many organizations struggle to use this powerful force. Data becomes increasingly difficult to manage as it grows in quantity and in the different places where it originates and is stored.

“Data has become one of the most important assets needed for business success,” said Erica Schultz, President of Field Operations at Confluent. “Modernizing the data infrastructure using real-time data streams-what we call‘ data in motion ’-enables seamless movement and data processing for better flows of work, more automation, real-time analytics and a different digital customer experience. This technology is essential for organizations to compete and win in the digital-first world. »

This is the first global industry report that focuses on the experience of technology leaders in motion data, exploring topics such as visible benefits, barriers encountered, and the role they believe in real-time data streaming. can play a role in their success.

Main conclusions of the report:
Motion data drives customer engagement and the bottom line

Most leaders (97%) have access to some level of real-time data feeds, but those with broad access (66%) see higher revenue.
Of those with extensive access to real-time data, 63% saw annual revenue growth of at least 10% between 2020 and the end of 2021, despite the global pandemic.

8 out of 10 IT managers say real-time data streams are very important, if not absolute, vital when it comes to creating a rich customer experience.
Real-time data flow is important, but difficult to implement without the right technology

60% of IT managers say difficulties in integrating multiple data sources are the biggest barrier to accessing more real-time data-twice as many respondents than those citing a lack of budget.

76% of IT managers say the timely integration of real-time data from various applications is important for their organization’s critical processes. However, 40% said they find it difficult to integrate this data in a timely manner.

Two out of three organizations (68%) say it is difficult to find the data they need to build real-time applications.

Success in the Cloud Requires Secure Data Flow Between the Clouds

Only 39% of respondents say they are “fully prepared” to work in a hybrid cloud environment, where some of their data is in the cloud and some is in place.

Although multicloud is common, 32% of IT managers struggle to effectively synchronize data between storage environments.

Of the businesses operating in the area, 69% say security concerns, such as data protection, loss of control over data security, and/or hacking threats, are the main reasons why they hesitant to move to the cloud.

Procedure
The report is based on a survey conducted by Lawless Research from January to March 2022. Responses from 1,950 IT and engineering managers were collected in 6 countries: US, UK, France, Germany, Australia and Singapore. This is a 15-minute blind survey of full-time employees in companies with more than 500 employees.

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