new york–(business wire)— According to KX, the global leader in real-time streaming analytics, the United States could realize the largest impact in revenue growth – potentially $2.3 trillion – by leveraging real-time data analytics. The manufacturing industry alone could benefit by nearly $1 trillion after implementing real-time data, and revenues within the finance and insurance sectors could increase by nearly $637 million.
KX today announced the latest results from the ‘The Speed to Business Value’ industry report at the Gartner® Data and Analytics Summit 2022 in Orlando. Developed in collaboration with the Center for Economics and Business Research (CEBR), the comprehensive report covers more than 1,200 companies across four key sectors (manufacturing, automotive, finance and insurance) in six countries (US, UK, France, Germany, Singapore and Australia). Surveyed. and telecommunications).
Kathy Snyder, Chief Marketing Officer at KX, elaborated on the findings: “These results demonstrate the concrete impact of real-time data analytics on U.S. business performance and competitiveness; However, whether current data management and analytical structures are capable of meeting this moment is another story. To truly thrive in the new data frontier, business leaders in every sector must be able to use real-time data in the context of historical data to make faster, better-informed business decisions. Anything less is no longer enough, and you risk being left behind.”
According to the study, in the US, businesses that adopt real-time data analytics technologies can achieve substantial business and operational benefits, including:
- Bigger bottom-line benefits: The survey results showed that companies in four US industry sectors reported 18% average recognized revenue growth, with potential for more.
- Enhanced customization: American businesses could collectively save more than $187 billion due to reductions in nonpersonnel operating costs.
- Improved customer feedback: US businesses saw a significant increase in positive customer experiences after implementing real-time data analytics, particularly within finance and insurance (44%) and telecom (42%).
- Reduced abnormal activity: In the US, 84% of manufacturers saw at least a moderate reduction in unusual operational or financial activity, while 83% of telecoms reported the same.
- Greater productivity and efficiency: US respondents developed more efficient rollout processes, as reported by 73% of US manufacturers, and greater efficiencies, as reported by 67% of US firms in finance and insurance.
The time for real-time data is now. The volume and velocity of data is increasing exponentially, while the window for extracting value from that data is shrinking.
KX enables business leaders from all sectors to accelerate their speed to business value by uniquely combining real-time, streaming data with historical context for better in-the-moment decision making. KX Insights ingests, stores, manages, analyzes and visualizes abundant dynamic, streaming data, whether on-premise, in the cloud or at the edge. Built on its kdb+ time-series database, KX Insights empowers developers, data scientists and business analysts with unparalleled performance and continuous, actionable intelligence.
To join KX Solutions experts in Orlando this week and determine how to do it within your own organization, please 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 and Analytics Summit
The Gartner Data and Analytics Summit provides insights for data and analytics leaders to enable a data-and-analytics-centric culture within their organizations by tying strategy to business outcomes and promoting the adoption of technologies such as artificial intelligence (AI). A flexible culture that accelerates change and where data literacy, digital trust, governance and data-driven critical thinking are pervasive.
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About the KX
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 combines real-time data with historical context for high-volume, data-intensive analytics and applications across multiple industries. KX is part of FD Technologies plc, a group of data-driven businesses that operates from 15 offices in Europe, North America and Asia Pacific and employs over 3000 people worldwide. For more information visit www.kx.com.