Although real-time streaming analytics is becoming the lifeblood of today's data-driven economy, there are a number of disconnects in how executives and developers view their companies’ real-time data capabilities, according to a VoltDB and Research Now survey.
The study of more than 150 IT professionals found most respondents (67 percent) said they believe their organization has the ability to analyze data in real time, but nearly the same percentage of respondents (66 percent) think that real-time apps are meeting business needs only half of the time.
When the responses are broken down by roles, 84 percent of CIOs believe their organization can analyze data in real-time, compared to only 42 percent of developers who believe the same.
VoltDB's chief marketing officer Peter Vescuso told eWEEK that the most surprising finding that the survey identified was the disconnect between CIOs and developers, noting the survey identified two main areas where businesses struggle.
"First, 29 percent of respondents stated that budget and internal resource constraints are the primary obstacles keeping them from real-time nirvana," he said. "In addition, interoperability and cost are also top considerations when implementing a real-time streaming analysis solution. Second, one in four respondents cited integration with current systems and one in five cited cost as the primary consideration when deploying a real-time application."
Only 35 percent of respondents define real-time as actions occurring in less than a second or in milliseconds, compared to 32 percent of respondents that define it in minutes or lack a real-time standard altogether.
"The focus in data analysis is real time. Most current analytics offerings focus on providing insight," Vescuso said. "We think the next frontier is the ability to act on those insights in real time – in sub-milliseconds."
As an example, he pointed to the survey finding which showed 91 percent of CIOs, IT managers and developers agree that real-time streaming data analysis can have a positive impact on their company’s bottom line.
Nearly half (48 percent) of developers said they believe the biggest obstacles to responding and acting in real time are budget and internal resource constraints, compared to only 18 percent of CIOs that feel the same way.
Overall, 91 percent of CIOs, IT managers and developers agree that real-time streaming data analysis can have a positive impact on their company's bottom line.
"Impact doesn't come solely from insight – it comes from acting on insights," he explained. "As we break down the disconnect between developer and CIO expectations, look for tighter integration between analytic insights and actions aimed at boosting a business's bottom line."