2015 Real-time Data Report

2015 Real-time Data Report

HIGHLIGHTS 91% of CIOs, IT managers and developers agree that real-time streaming data analysis can have a positive impact on their company s bottom line While 84% of CIOs believe that their organization can analyze data in real time, only 42% of developers agree with that statement 56% of respondents believe that real-time streaming data applications have different requirements than Big Data applications Two-thirds (66%) of CIOs, IT managers and developers think real-time apps meet business needs less than half of the time Overview Today s digital world is dominated by data. It streams into organizations from phones, sensors, financial systems, telecom and IT networks and anywhere a mouse click creates a reaction. This real-time information needs to be captured, analyzed and acted upon in milliseconds to capitalize on the critical insights that can make or break a business. When should customers receive a specific offer? Which IT security breaches need to be immediately addressed? How can we adjust a telecom or utility network in real time to ensure that we are effectively meeting customer demand? All of these questions require real-time analysis of fast streaming data. Harnessing the power of this real-time streaming data or fast data is leading the next wave of the real-time data revolution. Unlocking the door to fast data enables organizations to perform real-time analysis that provides instant insights that result in immediate actions. Enterprises are empowered with streamlined operations and smarter, faster and more personalized interactions with customers, delivering the competitive advantage required to compete in today s global economy. The purpose of the 2015 Real-time Data Report is to determine the state of fast data analysis across the enterprise through the eyes of CIOs, IT managers and developers. Conducted by independent panel research firm Research Now, the survey examined how each of these enterprise roles views real-time data capabilities and requirements. The resulting data revealed a number of discrepancies regarding the definition, analysis and business applications of real-time data. 1

Defining Real-time Data Based on the survey results, the definition of real time is far from universal. Only 35% of respondents define real-time as actions occurring in less than a second or in milliseconds, compared to 32% of respondents who define it in minutes, or lack a real-time standard altogether. The disconnect on what constitutes real time shines a light on the various business needs of organizations, where some require the automation of actions in milliseconds and others can take a little longer with their streaming data analysis. Most respondents (67%) believe their organization has the ability to analyze data in real time. However, when breaking responses down by roles, 84% of CIOs believe their organization can analyze data in real-time, compared to only 42% of developers who believe the same. The CIO and developer disconnect continued throughout the analysis of the survey data. For instance, while 56% of respondents believe real-time streaming data apps have different requirements than Big Data applications, only 36% of developers believe this to be true, compared to 74% of CIOs who feel the same. 2

Benefits of Real-time Analysis Nearly all CIOs, IT managers and developers see eye-to-eye on the benefits of real-time data, with 91% of respondents agreeing that streaming data analysis can have a positive impact on their company s bottom line. In addition, 89% of respondents feel that a data management platform that responds in real time is valuable to their organization The survey results showed a number of reasons for implementing real-time data analysis, with 26% of respondents citing an enhanced customer experience as the top choice. Improving the efficiency of operations (23%), gaining a competitive advantage (19%) and increasing employee productivity (17%) rounded out the top four reasons for deploying real-time analysis. The discrepancies start to come into play when dissecting responses to the real-time benefits-focused questions by role. For example, while 72% of CIOs either strongly or completely agree that real-time streaming data analysis can drive operational and customer experience improvements, only 36% of developers agree with the statement. The CIO and developer perception gap continues when looking at the business value of responding in real time. More than half (54%) of all respondents indicated having a data management platform that can respond in real time is very valuable or critical to their operations. However, while 82% of CIOs agreed with this statement, only 36% of developers felt the same. 3

Real-time Challenges While respondents agreed on the overall business benefits of real-time analysis, they also realize that there may be challenges associated with meeting the real-time demands of their organization. In fact, nearly one in three (32%) CIOs, IT managers and developers claimed that data consistency and quality is the primary obstacle when unable to meet the demands of their organization to respond and act in real time. Twenty-nine percent of respondents stated that budget and internal resource constraints are the primary obstacles keeping them from real-time nirvana. A familiar theme emerged when looking at the CIO-versus-developer breakdown. According to survey results, 48% of developers believe budget and internal resource constraints is the primary obstacle when unable to meet their organization s real-time demands, compared to only 18% of CIOs who felt the same. In addition, 28% of CIOs felt the lack of in-house expertise was the primary obstacle holding them back. Not surprisingly, only 8% of developers agreed with that statement. Interoperability and cost are also top considerations when implementing a real-time streaming analysis solution. One in four (25%) of respondents cited integration with current systems and one in five (20%) cited cost as the primary consideration when deploying a real-time application. Data quality, consistency and correctness (26%), performance speed (21%) and accuracy of analysis (20%) were the top three choices when looking at each respondent s biggest concern for their organization s current approach to real-time analytics. 4

Real-time Opportunity Real-time streaming data is plentiful and CIOs, IT managers and developers all see the value in harnessing its power in the moment. In fact, 24% of respondents claimed that operational/streaming data was the data type most important to the success of their business. In addition, more than half of respondents (56%) stated it was critical or very important to add real-time context to their streaming analytics applications. One of the most telling statistics revealed by the survey points to the tremendous opportunity for real-time applications. Nearly two-thirds of respondents (66%) believe real-time applications meet business needs less than half of the time. Further highlighting the opportunity for improvements in real-time solutions, respondents claimed they are unable to meet speed demands for data analysis 54% of the time. Once again, the developer and CIO disconnect reared its head when looking at how each role viewed the path to capitalizing on the real-time analytics opportunity. Survey results revealed that while 42% of CIOs believe maximizing the capabilities of existing analytics solutions is their organization s current approach for employing real-time analytics, only 14% of developers agreed with that statement. With more than half of respondents (54%) completely or strongly agreeing that conducting analysis on real-time operational data to make immediate business decisions is critical to the success of their organization, the need to harness the power of streaming fast data in the moment has never been more apparent. 5

Conclusion With real-time streaming analytics rapidly becoming the lifeblood of today s data-driven economy, the 2015 Real-time Data Report uncovered a number of disconnects in how organizations and job titles view real-time data. And while these disconnects make for interesting conversation, there were no disagreements when it comes to the business benefits of real-time data analysis. As streaming real-time data continues to enter organizations at unprecedented rates and volumes, it will be the enterprises that analyze and act in the moment that will realize the greatest business impact. Methodology The 2015 Real-time Data Report is based on an online, quantitative market research study commissioned by VoltDB and conducted by independent research firm Research Now in the third quarter of 2015. The survey collected responses from more than 150 IT professionals, with a near equal breakdown between CIOs, developers and IT managers. The majority of respondents represented organizations of at least 500 to more than 10,000 employees across a number of key industries, from retail and telecommunications to financial services and energy. 6