Organizations with Real-Time Data Streams See Higher Revenues and Happier Customers, Confluent Report Finds

Rhea-AI Summary

A recent global survey reveals that 97% of organizations utilize real-time data streaming, crucial for enhancing customer engagement and business processes. Over 80% of respondents identified real-time data as essential for a superior customer experience, while 68% highlighted its importance in achieving revenue goals. However, challenges persist, with 60% citing difficulties in integrating multiple data sources. Only 39% feel fully prepared for hybrid cloud operations. Companies leveraging real-time data report significant revenue growth, showcasing its potential impact on business success.

Positive

• 97% of organizations are using real-time data streaming.
• 66% of companies with widespread real-time data access report higher revenues.
• 63% of organizations with real-time data experienced annual revenue growth of 10%+ from 2020 to 2021.

Negative

• 60% of IT leaders face difficulties in integrating multiple data sources.
• 40% of leaders reported challenges in timely data integration.
• Only 39% feel completely prepared for hybrid cloud environments.

Global survey of IT and engineering leaders shows more than 3 out of 4 businesses would lose customers without access to real-time data streams

More than 80% of organizations report real-time data streams are critical to building responsive business processes and rich, customer experiences

68% of respondents said real-time synchronization between on-premises and cloud environments is critical to achieving 2022 revenue goals

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- The movement toward setting data in motion with real-time streaming is experiencing a groundswell. According to brand-new survey data, 97% of organizations around the world are tapping into real-time data streaming, making it one of the most important technologies for thriving in today's digital-first landscape. For the inaugural State of Data in Motion report, Confluent, Inc. (NASDAQ: CFLT) surveyed 1,950 IT and engineering leaders across six countries. The findings emphasized how data in motion can underpin businesses that excel at serving, retaining, and attracting customers, now and into the future.

“Real-time data streams are becoming core to how we serve customers and run our business,” said Yaël Gomez, Vice President, Global IT, Integration and Intelligent Automation, Walgreens Boots Alliance. “With quality data in motion, we can manage customer engagement, ensure vaccine and testing accessibility for patients, and enable a differentiated online retail proposition. An organization-wide IT modernization effort has led to an increasingly seamless omnichannel experience.”

Key Findings from the State of Data in Motion Report

The report reflects the growing data streaming market today. It shows how real-time data influences everything from how employees get their work done to how companies engage customers and deliver goods. However, harnessing this powerful force is difficult for many organizations. Data becomes harder to wrangle as it quickly grows in volume and the variety of places it’s pulled from and stored.

“Data has emerged as one of the most important assets needed for business success,” said Erica Schultz, President of Field Operations, Confluent. “Modernizing data infrastructure with real-time data streams — what we call 'data in motion' — enables continuous movement and processing of data for better workflows, more automation, real-time analytics, and differentiated digital customer experiences. This technology is crucial for organizations to compete and win in the digital-first world.”

This is the first global industry report that focuses on tech leaders’ experience with data in motion, exploring topics like the benefits they experience, the roadblocks they face with widespread adoption, and the role they believe real-time data streaming will ultimately play in their success.

Key findings include:

• Data in motion boosts customer engagement and the bottom line
  • Most leaders have access to some degree of real-time data streams (97%), but those with widespread access (66%) see higher revenues.
  • A large segment (63%) of those with widespread access to real-time data saw an annual revenue growth of 10% or more between 2020 and year-end 2021, despite the global pandemic.
  • 8 in 10 IT leaders say that real-time data streams are very, or extremely, important when it comes to building rich customer experiences.

• Real-time data streaming is essential, but challenging without the right technology
  • 60% of IT leaders say difficulties integrating multiple data sources are the biggest hurdle to accessing more real-time data — nearly twice as many respondents as those who cited a lack of budget.
  • 76% of IT leaders said the timely integration of real-time data from different applications is important for critical processes within their organization. But nearly half (40%) reported difficulty integrating data in a timely way.
  • 2 out of 3 organizations (68%) say it’s challenging to even find the data they need to build real-time applications.

• Success in the cloud demands secure data streaming between clouds
  • Only 39% of respondents say they’re “completely prepared” to operate in a hybrid cloud environment, where some of their data is in the cloud and some still on premises.
  • While the multi-cloud is common, 32% of IT leaders struggle to synchronize data between storage environments effectively.
  • Of companies operating on premises, 69% report security concerns like ensuring data protection, losing control of data security, and/or threats of being hacked as their top reasons for hesitating to move to the cloud.

Dive Into the Report

Download the full Data in Motion report here. Also, check out the blog post from Erica Schultz, Confluent’s president of field operations. In it, she shares her thoughts on key findings and advice for getting started with data in motion.

The report is based on a survey conducted by Lawless Research from January to March 2022. Responses from 1,950 IT and engineering leaders were collected across the United States, United Kingdom, France, Germany, Australia, and Singapore. This was a 15-minute blind survey of full-time employees of companies with more than 500 employees.

Additional Resources

• Download the State of Data in Motion report here: https://www.confluent.io/data-in-motion-report/
• Learn more about the report from Erica Schultz: https://www.confluent.io/blog/the-results-are-in-from-the-first-ever-data-in-motion-report/
• See how Confluent is helping its customers transform their businesses: https://www.confluent.io/customers/
• Join Confluent and apply for one of its open positions: https://www.confluent.io/careers/

About Confluent

Confluent is the data streaming platform that is pioneering a fundamentally new category of data infrastructure that sets data in motion. Confluent’s cloud-native offering is the foundational platform for data in motion—designed to be the intelligent connective tissue enabling real-time data, from multiple sources, to constantly stream across the organization. With Confluent, organizations can meet the new business imperative of delivering rich, digital front-end customer experiences and transitioning to sophisticated, real-time, software-driven backend operations. To learn more, please visit www.confluent.io.

Confluent and associated marks are trademarks or registered trademarks of Confluent, Inc.

Apache® and Apache Kafka® are either registered trademarks or trademarks of the Apache Software Foundation in the United States and/or other countries. No endorsement by the Apache Software Foundation is implied by the use of these marks. All other trademarks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220519005323/en/

Lyn Eyad

pr@confluent.io

Source: Confluent

FAQ

What percentage of organizations utilize real-time data streaming according to the survey?

According to the survey, 97% of organizations utilize real-time data streaming.

How does real-time data streaming impact business revenue for companies?

Companies with widespread access to real-time data streaming report higher revenues, with 66% noting this benefit.

What are the challenges faced by IT leaders regarding real-time data integration?

60% of IT leaders cite difficulties integrating multiple data sources as the biggest hurdle.

What role does real-time data play in achieving revenue goals?

68% of respondents mentioned real-time synchronization is critical for meeting 2022 revenue goals.

How prepared are organizations for hybrid cloud environments based on the survey?

Only 39% of organizations feel completely prepared to operate in a hybrid cloud environment.