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A new report by Confluent outlines business-level benefits, challenges, and opportunities of real-time data streams as tech leaders around the world see it. The report shows how data streams can ultimately play a role in the success organizations realize now and into the future.
One of the most important findings in the report was the correlation between data streaming and the bottom line. The report found that the majority of leaders have access to some degree of real-time data streams (97%), but those with widespread access (66%) are at a major advantage. More than half of this group (56%) reported revenue growth higher, and even much higher, than their competitors.
Of course, customer satisfaction is a major indicator of revenue. The report found that three in four organizations say they would lose customers without access to the insights from real-time data streams. In an era where consumers expect interactions to be personalized and available immediately across channels, brands are leaning on real-time data to increase customer satisfaction.
While there is a clear correlation between real-time data streams with happy customers and revenue, taking advantage of data in motion isn’t so easy. The report found that many businesses lack the architecture to integrate and benefit from information that flows from various sources. In fact, 60% of respondents said difficulties integrating multiple data sources was the top hurdle to accessing more real-time data.
The report is based on a 15-minute blind survey (conducted from January to March 2022) of 1,950 IT and engineering leaders across the United States, United Kingdom, France, Germany, Australia and Singapore. All respondents were full-time employees of companies with more than 500 staff.
Read the full report by Confluent.