KX and the Centre for Economics and Business Research (Cebr) have published ‘The Speed to Business Value’ an industry report showing the commercial and operational benefits to be gained by businesses adopting real-time data analytics technologies.
Announced today at the Gartner® Data & Analytics Summit 2022, the in-depth report surveyed over 1,200 companies spanning six countries (US, UK, France, Germany, Singapore, and Australia) in four key sectors (manufacturing, automotive, finance and insurance, and telecommunications). Its headline findings are that 80% of companies surveyed have seen their revenues increase after implementing real-time analytics. The total potential revenue uplift is $2.6 trillion across the regions and sectors surveyed with a further $1.6 trillion of future additional revenue also possible.
Drawing on a combination of both quantitative and qualitative research and economic modeling, the report clearly demonstrates the measurable commercial and operational value that real-time data management and analytics technologies can deliver across major industry sectors. 98% of respondents reported increased customer satisfaction while 60% are seeing major efficiency and productivity gains. For example, the study results indicate that $321 billion in non-personnel-related operating costs have been saved thanks to real-time data analytics. Moreover, this number could rise to $379 billion if real-time data analytics were fully implemented across all firms in the key industry sectors surveyed.