Value Creation Using Real-Time Digital Data Streams: Challenges and Readiness
Recently, with the availability of real-time digital data streams (DDS) and the so-called Big Data that can potentially provide valuable data for an organization, we are witnessing a major transformation in the dynamics of the data-based, decision-making phenomenon. Real-time DDS consists of data that is continuously delivered immediately after creation or collection, which organizations can utilize in real time. Often, with this type of data — described as unstructured or semistructured, high volume, and high velocity — there is a minimal or zero time delay in its streaming. Through insights from the latest CBR survey results, this article examines the challenges related to value creation using real-time DDS as well as the readiness levels of responding organizations.