1Need for Speed: How Rapid Data Processing Benefits Enterprises
While virtually all organizations would benefit from processing and acting upon data quickly, few are successful in doing so, according to a recent survey from Streamlio. The resulting report, titled “The Speed of Data,” reveals that only a minority of businesses formally measure how fast they process data. However, by improving this speed, they’d greatly streamline operations, improve real-time customer interactions and more effectively respond to business/market changes. They’d also boost the performance of their business intelligence (BI) and security solutions. More than 300 data decision-makers took part in the research, which was conducted by Dimensional Research. The following slide show presents survey highlights, with charts provided courtesy of Streamlio.
2Rapid Data Execution Sought
3Investments Intended for Speed Gains
4Organizations Underperform on Measuring Progress
5Analytics, AI Drive Improvement Efforts
When asked which initiatives are driving the need to process data immediately, 47 percent of respondents cited new analytics, machine learning and artificial intelligence (AI) projects. The integration of new, real-time and streaming data sources ranked second, as cited by 44 percent of respondents.
6Existing Infrastructure Presents Problems
7‘Batch Runs’ Dominate Data Processing
8High-Achieving Businesses Gain BI Advantage
Three of five respondents said that their company’s business intelligence and reporting products would greatly benefit by processing data immediately, rather than “in batch.” Other top types of technologies that would benefit by faster data processing are app/system monitoring and alerting solutions (as cited by 54 percent of respondents), security/fraud detection products (52 percent) and customer interaction tools (51 percent).
9Greater Efficiencies Anticipated for Top Performers
10Real-Time Processing Tops Wish List
11Increased Capabilities to Boost Customer Satisfaction
With greater tech capabilities such as the real-time processing of analytics, 58 percent of respondents said they’d increase customer satisfaction. Nearly the same percentage said they’d enable new, data-driven applications that were impractical or impossible before, and more than one-half said they’d expand access to real-time data to more users.