Here's What Leaders at Intel, Rakuten, and Uniphore Have to Say About Real-Time Data

 “In today’s world of generative AI and real-time augmented analytics, the right data at scale at the right time, with sub-millisecond processing, is absolutely critical for competitive advantages for [a] majority of customers across use cases.”

This is how Arijit Bandyopadhyay, Intel's CTO of Analytics and AI, describes the importance of real-time data in the new report, "Making Data Matter—in Real-Time." DataStax and MIT Technology Review collaborated to produce this exploration into the immense potential of real-time data in driving personalized digital experiences, improving operational efficiency, and enhancing overall business performance.

Key takeaways and insights from Bandyopadhyay and other tech leaders that were interviewed for this report include:

1. By collecting and analyzing data in real-time, organizations can create innovative applications that provide enhanced customer experiences. Real-time data enables businesses to gauge customer sentiment, deliver targeted content, optimize supply chains, combat fraud, and offer real-time alternatives to missed flights.
2. Capturing and processing data in real-time can be a resource-intensive endeavor. Organizations need to identify the business processes that would benefit the most from real-time data analytics. By strategically prioritizing data collection and analysis, businesses can make informed decisions, optimize operations, and maximize the value of their data assets.
3. Managing real-time data poses unique challenges for organizations. To overcome these hurdles, experts suggest using open-source solutions, cloud infrastructure, and AI. Open-source technologies help build strong data pipelines, develop in-house expertise, and avoid dependency on vendors. Incorporating AI and machine learning into business operations through real-time analytics platforms will have significant benefits

VerSe Innovation’s Jai Thomas, Vice President of IT Infrastructure & Operations, relies on real-time data for its short-video platform, Josh. Josh delivers personalized content to its 360 million users with customer data, ML, and AI. Real-time data enables VerSe to prioritize what Thomas describes as the three Cs: customers, content, and context.

“The real-time data becomes very critical because, on average, VerSe ingests millions of pieces of content every day on Josh, and then it’s critical that we make sure that we are serving the right and relevant content to the user.”

By harnessing the power of real-time data, organizations can create personalized digital experiences, optimize operations, and achieve superior business performance. While challenges exist, adopting open-source solutions, cloud infrastructure, and AI systems can help businesses overcome hurdles and unlock the full potential of real-time data analytics. 

Download the MIT Technology Review Insights report, "Making Data Matter—in Real-Time," to learn more.