New research has found that real-time data analytics technologies increased revenues for 80% of companies.

The Speed to Business Value report from KX and the Centre for Economics and Business Research (Cebr) surveyed over 1,200 companies across the US, the UK, France, Germany, Singapore, and Australia.

With 80% of the surveyed companies increasing their revenues, real-time data analytics offers a potential revenue uplift of $2.6 trillion across the regions and sectors surveyed. According to the report, a further $1.6tn of future additional revenue is also possible.

In addition, 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 $379bn if real-time data analytics were fully implemented across all firms in the key industry sectors surveyed.

KX Chief Marketing Officer Kathy Schneider commented: “As the headline findings of this report show, by implementing real-time data analytics technologies, businesses globally can realise significant measurable business value.

“From process improvements to cost reductions and tangible impact on business revenues, the benefits are wide-reaching. This study provides a call to action for businesses not yet leveraging real-time streaming data to modernise their approach and not get left behind.”

Across most surveyed regions, organisations in manufacturing, finance, and telecoms all reported more efficient rollout processes when developing and launching new applications, products, and services after implementing real-time data systems.

This includes the telecoms sector in the UK, where 86% of businesses reported more efficient rollout processes for new products and services after implementing real-time data systems.

For customer experience, every sector and region reported positive gains in terms of customer satisfaction, such as faster service delivery; increased sales; better product quality; and reduced costs.

The most positive impact was recorded in the telecoms sector, where 39% of all respondents stated a significant growth of positive feedback after implementing real-time data, and 52% stated moderate.

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Furthermore, the overall reduction in costs is a significant value outcome for every industry in almost every country. In the UK, the impact of real-time data was $25bn.

An estimated $321bn in cost is saved across all assessed industries, while full adoption of real-time data analytics for all firms across these industries could see this rise to almost $379bn.

Head of Economic Advisory at Cebr Owen Good said: “Our research sets out both the scale and breadth of the economic benefits supported by real-time data.

“Based on a survey of over 1,200 business decision-makers across six countries and four industries, we estimated significant firm-level and macroeconomic benefits associated with both the current and potential utilization of the technologies.

“Notably, we estimate that firm-level gains from using real-time data–driven by productivity gains from more efficient processing and managing of data – resulted in an uplift of $7.4bn in gross value added across all six countries, with a further potential increase of $3.6bn if the benefits of real-time data were fully exploited.”

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