Industry executives and experts share their predictions for 2023. Read them in this 15th annual VMblog.com series exclusive.
2023 will usher in a Real-time Revolution
By Raj Verma, CEO, SingleStore
The ability to deliver data-driven insights and respond in real-time will be critical in the year to come. We are in the Industrial Revolution 4.0 (4IR), a time when the boundaries between the physical, digital, and biological worlds are blurred, with data being a shared output of all three.
Data in the 4IR is fast, accessible and immediate – it’s modern data. And only the technology that supports and powers modern data will survive as customers demand immediate responses, in milliseconds rather than seconds. The difference of milliseconds is what will drive customers from your organization to a competing one. Every industry will realize that they must become an “on-demand” service provider to meet rising customer expectations.
Real-time will become a mainstream expectation in the year ahead, and it will be essential for businesses to reevaluate their data strategies to include real-time applications that allow for scale and enhance customer experiences. Data movement causes latency, which is why I believe that a unified database will prevail – a singleverse.
Real-time will not only play an important role for businesses, but the world as a whole will benefit if transactions happen in real time across all functions, including banking, healthcare and cybersecurity. Companies that re-imagine their data strategies and meet the real-time demands of society will be deemed victorious.
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ABOUT THE AUTHOR
Raj Verma is CEO at SingleStore and has more than 25 years of global experience in enterprise software and scaling operations. Raj helped grow TIBCO software to over $1B revenue as CMO, EVP Global Sales, and COO. He was also COO at Aptus Software and Hortonworks. Raj holds a Bachelor’s degree in Computer Science from BMS College of Engineering in Bangalore, India.
