SingleStore Research Highlights a Spike in Data Demands Amid the COVID-19 Pandemic
Many aspects of life and work stopped or slowed down significantly during the pandemic. But new research from SingleStore, the unified database for fast analytics, indicates that data requirements in the age of COVID-19 have been greater than ever. This research is based on a 500-person survey of IT professionals that Propeller Insights conducted in January 2021 on behalf of SingleStore.
“The pandemic expedited digital transformation, distilling the digitalization that would have normally taken two to three years down to just six months,” said SingleStore CEO Raj Verma. “Organizations’ ability to adjust and adapt at this speed was nothing short of amazing. But now that the dust has settled, many companies are left grappling with data platforms that can’t easily handle all of their diverse data types and workloads, scale economically, or address the growing cloud complexity.”
“The pandemic sent data volume and velocity – which were already on a rapid rise – into the stratosphere”
The Pandemic Is Only Increasing The Need For Simplification, Modernization and Results
The vast majority (85.5%) of the survey group said that they have seen an increase in data demands since the start of the pandemic. But many said that their existing database or databases are not up to the task of handling the pandemic era’s volume and velocity of data:
- 43.8% of the IT professionals responding to the SingleStore survey said that they have experienced three to four database-related bottlenecks since the start of the pandemic.
- More than a fifth said they have faced six to seven bottlenecks amid COVID-19.
- This may help explain why 72% of IT professionals who responded to the SingleStore survey said that they have considered changing their database services in the past year.
“The pandemic sent data volume and velocity – which were already on a rapid rise – into the stratosphere,” said Verma. “The existing data platforms that many organizations use today are struggling to keep up. That is creating climbing concurrency demands; rising costs and complexity; sluggish event-to-insight response; and unmet service level agreements.”
Cloud Migration, Cost Control, New Workloads, Outdated Systems Are Key Drivers Of Change
SingleStore research indicates that cloud migration is the leading reason that organizations are looking to embrace a new database – and leave added cost and complexity behind. More than half (51.8%) of those surveyed said cloud migration is driving them to consider modernization.
Nearly half (46.4%) said they want to adopt a new database because their current solution is too expensive. Almost as many (41.3%) said their current solution doesn’t meet new workload demands. More than a third (38.3%) said that their existing database has reached end of life.
Some IT professionals are considering modernizing their data platform to address today’s requirements and prepare them for success in the future. But many actually expect to make such changes in the coming months. More than a third (36.7%) of IT professionals said they plan to replace their current data solutions in the next three to six months. An even greater share (37.1%) said they will implement a modern data platform in the next six months to a year.
The SingleStore database enables fast analytics on any data, anywhere to support organizations’ analytics and customer experiences. SingleStore removes complexity and cost by supporting both transactions and analytics; handling structured, unstructured and semi-structured data; and working in public clouds, on-premises environments and hybrid deployments.