The Database of Now delivers operational insights and advantages by providing the current state of the business. It is a modern, efficient approach to cloud data management which broadens, accelerates, and simplifies access to all the relevant in-the-moment and historical data while unifying data access styles and patterns.
Digital transformation projects have accelerated to meet the increased demand for digital products and services providing answers and solutions with immediacy. With the onset of the ‘always-on’ culture, the pervasive use of smartphones and ubiquitous devices has driven a global shift in customer experience and consumer expectations. Business is now won or lost in a moment.
To put this in perspective, in the world of institutional and high-frequency derivatives and commodities trading, every nanosecond of added latency costs financial traders millions of dollars as losses to competing traders. Exchanges such as the Investors Exchange (IEX) and NASDAQ reward maximum order execution performance. For web experience, Akamai found in 2017 that added latency of just 100ms in website load time drops conversion rates by 7%.
Seconds can save lives too. Thorn’s mission is to save children from sex trafficking and they do that by continuously processing massive amounts of web data to identify children and decrease law enforcement investigation time by as much as 63%. And True Digital seeks to proactively reduce the likelihood of new viral hotspots by monitoring mass population movement trends and the rates of population density changes through anonymized cellphone location data.
Each of these scenarios define a make-or-break moment in time. “Now scenarios” are time-critical, but the length of time available for effective action varies by situation, as does the variety, volume, and velocity of data required. But, what is essential for “Now scenarios” is to leverage all the relevant data to establish the most accurate, complete, and timely context to drive proactive responses. For business operations, with each passing moment, real revenue is lost or gained in a split second. For customer experience, latency adversely affects the interactivity and responsiveness customers expect. For law enforcement and public health, lives are at stake.
The Database of Now delivers the operational insights and advantages by providing the current state of the business so that business can proactively identify, capture and capitalize on the most crucial moments for their own endeavors and their customers’ success. It achieves this by simplifying the data infrastructure required to execute diverse workloads across various data access styles, patterns and types. Data professionals, application stakeholders and end users gain the advantages of speed, scale and simplicity.