95% of Indian Businesses Report Positive Returns from Data Streaming Investments: New Confluent Global Survey

– 95% of Indian businesses report a return on investment (ROI) of 2-10 times from their data streaming investments.
– 95% of IT leaders believe data streaming platforms can drive innovation in AI and ML development.
– 94% agree that data streaming platforms reduce the time to market for new products and services.
– For 92% of respondents, data streaming platforms are essential for achieving data-related goals.

Confluent, Inc., a pioneer in data streaming, released its 2024 Data Streaming Report: Breaking Down the Barriers to Business Agility & Innovation. The report underscores how data streaming is revolutionizing Indian businesses by fostering innovation, accelerating AI adoption, and enhancing customer experiences. Surveying 508 IT leaders from mid to large Indian companies (with over 500 employees), the report emphasizes the pivotal role of data streaming in maximizing business potential.

Key findings include:

– 95% of IT leaders in India experienced a 2-10 times ROI from data streaming initiatives, highlighting the importance of real-time data in India’s digital economy.
– 94% of respondents prioritize data streaming as a key IT investment for 2024, indicating India’s proactive stance on advanced data management and utilization.

Rubal Sahni, Area Vice President and Country Manager for India at Confluent, noted that India’s growing internet penetration and stable government have created opportunities for businesses and startups, emphasizing the critical role of real-time data in driving AI/ML innovation and unlocking new revenue streams.

Key Takeaways from the Report:

Data Streaming Boosts ROI, Cybersecurity, and Innovation:

– 95% of Indian IT leaders report a 2-10 times ROI from data streaming investments.
– 96% see improvements in cybersecurity and product/service offerings.
– 95% see or expect to see enhancements in AI/ML-driven product and service innovation.

**Data Streaming Propels India’s AI Adoption:**

– 98% believe data streaming eases AI/ML adoption.
– 85% expect an increase in GenAI investments in the next two years.
– 74% state data streaming significantly fuels AI progress by providing real-time data.
– 92% note that data streaming platforms aid in governance by tracking data fed into AI models.

Data Streaming Simplifies Data Product Development:

– 92% are investing in data streaming platforms to achieve data goals, including data product creation.
– 80% report significant benefits from a data product approach, such as:
– 98% find data products valuable for confident data sharing across business units.
– 92% note benefits in cost allocation based on usage metrics.
– 88% report improved risk management.

Data Streaming Solves Data Accessibility Challenges:

– 82% of IT leaders face multiple data-related challenges, including data silos and governance issues.
– Data streaming helps by:
– Breaking down data silos (92%).
– Improving data access (90%).
– Enhancing data discovery (84%).
– Addressing governance issues (81%).

The report indicates that data streaming platforms are crucial for overcoming data accessibility challenges, enabling Indian businesses to focus on innovation rather than navigating complex data connections.