Digital transformation has become a fast-growing reality because of the promise of growth and innovation the technologies under this umbrella promise.
Cloud, IoT, AI/ML and so on are no more mere buzzwords but present in several aspects of your business’ operations. Marketsandmarkets.com estimates the global digital transformation market size to be USD 469.8 billion in 2020 and expects it to grow at a Compound Annual Growth Rate (CAGR) of 16.5% by 2025 to touch USD 1009.8 billion.
However, what these numbers do not reveal is that many of the digitization efforts are small projects and do not span enterprise-wide processes.
According to a Gartner report, digital transformation should have data and analytics at its core, but almost 50% of corporate strategies do not include this. A McKinsey report points out that to leverage cloud, businesses moving from traditional monolithic and configured for fixed/static capacity, called data modernization, cannot expect to enjoy the dynamism of cloud by merely shifting their data to a few data centers.
Another McKinsey report clearly identifies streaming data as the fundamental component that will drive data modernization and streaming integration platforms as being critical to successful digital transformation.
The streaming analytics market is expected to grow at a Compound Annual Growth Rate (CAGR) of 25.2% from USD 12.5 billion to USD 38.6 billion between 2020 and 2025, according to Marketsandmarkets.com. The report also identifies inadequate system integrity as a bottleneck to the growth of this industry.
While moving data from legacy systems to the modern cloud is an important step in data modernization, equally important is the need to be able to tap data in real time.
Technologies today have leveled the field to some extent by bringing Big Data within reach of organizations of all sizes, across industries and located anywhere in the world.
Speed is the critical differentiator here as any delay in tapping opportunities is equivalent to handing the game to the competitor.
Access to real-time connected data and the ability to create dynamic dashboards to draw insights for making informed decisions has become essential for survival and growth.
This needs constant data ingestion and the streaming data to be integrated with the enterprise data for further analytics and intelligence. Stream data integration is key to making data modernization efforts bear fruit.
It can help identify trends and relationships, events and threats, customer behaviors and the opportunities they present, to identify ways to enhance the efficiency and efficacy of operations and minimize risks.
Some of the key areas where stream data integration can be beneficial include:
One of the most popular solutions for stream data integration is Striim, an end-to-end, enterprise-grade platform that enables easy integration of structured, semi-structured and unstructured data with sub-second latency on cloud or on-premises.
A non-intrusive, real-time change data capture solution, it enables in-flight processing and visualization of data with pre-built data pipelines.
Its wizard-based user interface and SQL-like language make it an ideal tool for business analysts and developers.
It facilitates the integration of data across Cloud, Big Data, and IoT devices without being bound to a single topology.
By continuously running queries to filter, transform, aggregate, enrich, and analyze the data-in-motion, it can deliver the output to any target with sub-second latency. It can also do batch processing of data.
With Striim’s Stream Data Integration you can:
It is an enterprise-grade patented tool that ensures security, scalability and reliability of the data, delivering the data as per user requirement in the correct format for high-value operational workloads whenever it is needed.
Indium Software is a two-decade-old IT solutions provider working with cutting-edge technologies to power businesses and set them on a growth trajectory.
It has a dedicated team of Big Data experts with cross-domain experience. Indium enables businesses embarking on the data modernization journey to leverage Striim stream data integration platform and improve the quality and speed of their decision-making by drawing insights from real-time data.
To find out how your data modernization efforts can benefit from streaming data integration, contact us now.
By Uma Raj
By Uma Raj
By Abishek Balakumar