Technology is as necessary as it is in permanent evolution; once you feel you’ve extracted the most value out of a system, it becomes outdated, underperforming, and in need of a replacement. With the rise of IoT, the edge, AI, and ML, enterprises require a fast, scalable solution to accommodate your data.
Mike Hulme, VP of marketing at DataStax and George Trujillo, principal data strategist at DataStax joined DBTA to explore the ways in which the real-time data cloud can provide key advantages that rival the cost, complexity, and performance of legacy systems.
According to Hulme, application strategies are one of the top issues facing businesses today. Operating with speed and scale is a business imperative, a result of market pressures—such as growth acceleration, operation streamlining, and customer engagement—that continuously demand for these conditions. Paired with an unpredictable market environment, enterprises are expected to accomplish extreme speed and scale while navigating fragile supply chains, geospatial tensions, an uncertain economy, and privacy and security concerns. It’s abundantly clear: real-time businesses are leading enterprises.
“We see that real-time has become so important that it’s driving a whole new generation of applications. It’s our belief that within the next five years, every new application will be real-time,” explained Hulme.
These real-time applications will provide instant access to data at scale in all forms, as well as being more intelligent, globally distributed, and cloud-native. While the growth in overall data is continuing at 3x, it’s estimated that the growth of real-time data is 10x, representing a potential 30% of all data generated in a few years.
It’s not all just growth, Hulme pointed out: according to DataStax’s survey of 500 companies, 71% of organizations experience an increase in revenue due to real-time data, while the transformative impact is increased by 2.3x on revenue for enterprises that employ a strategic focus on real-time.
“We’ve known for a while just how valuable data is in general. I think many businesses look to data to guide them out of the scenario they’re in today,” said Hulme. “Now we're at the point where it’s not just volume of data, it’s having the right data. I think real-time is this redefining characteristic that is going to provide the right answers, not just the volume of information, but actually the right answers at the right time to guide those business decisions.”
For most organizations, however, becoming real-time is still challenging. Due to a scarcity of specialized skills, overwhelming complexity, escalating costs, and outdated architectures, embracing real-time is easier said than done.
“It’s really important that the maturity of data and cloud strategy have to align, there has to be synergy between them,” said Trujillo. “The evolution of everyone understanding that the data and the cloud game plan has to come together, and people have to buy into that synergy of them working together.”
Hulme introduced the real-time data cloud, which they explained is “really a system that is built and designed specifically for the needs of modern business to operate with real-time data, to feed real-time applications, to drive real-time business decisions, and to really make this shift in a way that is accessible, consumable, and successful for every business.”
Purpose-built for developers, scalable, open, extensible, built for the cloud, and enterprise ready, the real-time data cloud will be a defining model for bridging the gap between real-time demands and the reality of its implementation, Hulme explained.
DataStax’s real-time data cloud can deliver any data, any type, at scale from any cloud and across all clouds. The ultimate promise from DataStax’s offering is to build fast and scale without limits through extending existing skills and tools, simplifying real-time development and operations, and delivering world-class economics for data at scale. Hulme pointed to an impressive statistic: the DataStax real-time data cloud can deliver 6x performance at 50% of the cost.
To learn more about DataStax’s real-time data cloud, you can view an archived version of the webinar here.