Tech

According to a global survey, 8 out of 10 companies are struggling to consolidate the data assets they need to increase revenue, increase customer satisfaction, and reduce costs.

70% expect to convert more sales if they have important information at the time of engagement.Most companies investing to make that possible

Hazelnut, LtdToday, 8 in 10 (79%) of retail and financial services companies are leveraging real-time data and combining it with historical data to gather better insights. We have released a global survey that reveals our struggles. In particular, it attracts customers, increases revenue and increases conversion rates amid increasingly unpredictable consumer behavior trends and increasing trends in incoming data.

Surveys show that on average, respondents expect conversion rates to increase by nearly 45% when using customer details at the time of engagement, and they need to combine real-time and historical data.

“Being a real-time business is fundamentally valuable and strategically necessary,” said Kelly Herrell, CEO of Hazelcast. “This study reveals both the challenges and opportunities associated with that transition.

“Success requires the ability to combine real-time data spikes with business contexts stored in databases in a way that enables instant action. Insight alone is not enough. Engagement and revenue growth , So far it is born from trading. “

A survey of 629 business and IT decision makers in the United States, Europe and Asia Pacific shows senior IT executives process real-time data and integrate it with historical data to increase consumer engagement and increase sales. It also shows that it is investing in various strategies.

Other survey highlights include:

  • Two-thirds (66%) of businesses have seen significant or very significant data growth from their customers’ applications and interactions over the last 12 months.
  • Seven out of ten (70%) organizations say they can change their ability to close sales and special offers if they have more relevant customer information at the time of engagement.
  • Companies plan to spend more on technologies that help them gain value from their data. Four in five (78%) expect to increase their investment in in-memory technology in the next 6-12 months, with 76% planning to focus on stream processing.
  • The majority of survey respondents said social media and viral memes (53%) are causing the biggest surge in demand for organizations ahead of annual retail events like Black Friday (50%). rice field. This changing situation drives fluctuations in consumer demand, and it is even more important for businesses to have easy access to all their data at any given time.

Of the 629 respondents, 105 were from the United Kingdom and Germany, 202 were from the United States, and 217 were from the APAC region. The survey was conducted by Sapio Research.to access Click here for complete survey report and survey results..

For companies looking for an effective way to integrate both real-time streaming and historical data, Hazelcast recently Hazelnut platform.. The Hazelcast platform combines the capabilities of a real-time stream processing engine with an in-memory data store to give enterprises a single platform for transactional, operational, and analytic workloads.You can find additional details about the platform here..

Hazelcast, Inc. Headquartered in San Mateo, California, with offices around the world. For more information on Hazelcast, please visit: https://hazelcast.com..

According to a global survey, 8 out of 10 companies are struggling to consolidate the data assets they need to increase revenue, increase customer satisfaction, and reduce costs.

Source link According to a global survey, 8 out of 10 companies are struggling to consolidate the data assets they need to increase revenue, increase customer satisfaction, and reduce costs.

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