The 2024 Data Streaming Report: Breaking Down the Barriers to Business Agility & Innovation has been released by Confluent. The paper focuses on how data streaming is improving customer experiences, spurring innovation, and speeding the adoption of AI in Indian enterprises. The poll, which included 508 IT leaders from mid- to big Indian organisations with over 500 people, emphasises the critical role that data streaming plays in empowering organisations to realise the full value of their data.
A significant 2–10 times return on investment was noted by 95% of IT leaders in India with experience in data streaming, according to the survey, highlighting the vital role that real-time data plays in the country's digital economy.
Furthermore, more than any other country in the survey, India ranks highest (94%), surpassing global estimates as the country's respondents view data streaming as a critical IT investment for 2024. This trend shows India's proactive attitude to enhanced data management and utilisation, as well as the significance of data technologies.
In the very competitive Indian market, agility is essential for gaining a competitive edge. Slow, inconsistent, out-of-date, or uncontrolled data can lead to poor decision-making and is therefore detrimental to success. Utilising continually streaming data is essential for gaining insights that enable organisations to respond swiftly and effectively.
"A stable government and increasing internet penetration across India are opening up a lot of business opportunities and fostering the development of the startup ecosystem in India. More businesses are realising the value of real-time data to enhance customer experiences, propel AI/ML innovation, and open up new revenue streams as a result of heightened competition and a favourable business climate, according to Confluent's Area Vice President and Country Manager for India, Rubal Sahni.
