NEW YORK–(BUSINESS THREAD)–According to KX, a global leader in streaming analytics, the U.S. could have the largest overall impact on increased revenue, potentially $2.3 trillion, by leveraging real-time data analytics real The manufacturing industry alone could benefit by nearly $1 trillion after implementing real-time data, and financial and insurance sector revenues could increase by nearly $637 million.
KX announced the results, the latest from the industry report “Velocity to Business Value,” at the Gartner® 2022 Data and Analytics Summit today in Orlando. The full report, developed with the Center for Economic and Business Research (CEBR), surveyed more than 1,200 companies in six countries (US, UK, France, Germany, Singapore and Australia) in four key sectors (manufacturing, automotive , finance and insurance). , and telecommunications).
Kathy Schneider, director of marketing at KX, explained the findings: “These results demonstrate the tangible impact of real-time data analytics on US business performance and competitiveness; however, if analytics architectures and Whether today’s data management systems are able to meet this moment is another story. To truly thrive in the new data frontier, business leaders across all industries must be able to use real-time data with the context of historical data to make faster and more informed business decisions. Anything less is no longer enough and you risk being left behind.”
According to the study, in the United States, companies that adopt real-time data analytics technologies can gain substantial business and operational benefits, including:
- Bigger fund advantages: The survey results showed that companies in all four US industry sectors reported an average increase in recognized revenue of 18%, with the potential for more.
- Increased optimization: US businesses could save more than $187 billion in total due to a reduction in non-people operating costs.
- Improved customer reviews: US companies saw a significant increase in positive customer experiences after implementing real-time data analytics, particularly in finance and insurance (44%) and telecommunications (42%).
- Reduced abnormal activity: In the US, 84% of manufacturers saw at least a moderate reduction in anomalous operational or financial activity, while 83% reported the same in telecommunications.
- Higher productivity and competence: US respondents developed more efficient deployment processes, as reported by 73% of US manufacturers, and greater efficiencies, as reported by 67% of US companies in finance and insurance.
The time for real-time data is now. The volume and velocity of data is growing exponentially, while the window to extract value from that data is shrinking.
KX enables business leaders across all industries to accelerate their speed to drive business value by uniquely combining streaming real-time data with historical context for better, in-the-moment decision-making. KX Insights ingests, stores, manages, analyzes and visualizes massive amounts of dynamic streaming data whether on-premise, in the cloud or at the edge. Built on its kdb+ time series database, KX Insights provides developers, data scientists, and business analysts with unmatched performance and continuous, actionable intelligence.
To join KX Solutions Specialists this week in Orlando and determine how to do this within your own organization, visit: https://gtnr.it/3dAjfQ0
The full results of the Speed to Business Value report are also available here: https://bit.ly/3wtKJhd
About the Gartner Data & Analytics Summit
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KX is the leading technology company for real-time data analytics and decision intelligence. Built on kdb+, independently benchmarked as the world’s fastest time series database, KX Insights is our high-performance, in-memory computing, streaming analytics and operational intelligence platform. It uniquely combines real-time data with historical context for high-volume, data-intensive applications and analytics across multiple industries. KX is part of FD Technologies plc, a group of data-driven companies operating from 15 offices in Europe, North America and Asia Pacific and employing more than 3,000 people worldwide. For more information, visit www.kx.com.