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Industry’s Largest Survey Finds Enterprises Realize 2X ROI on Observability

Industry’s Largest Survey Finds Enterprises Realize 2X ROI on Observability

technology 13 Sep 2023

Findings from 1,700 technical professionals across 15 countries revealed 58% YoY growth of full-stack observability and adoption of unified platform doubled year-over-year

New Relic, the all-in-one observability platform for every engineer, published the 2023 Observability Forecast report, which examines the evolution of observability, and its impact on the lives of technical professionals and businesses’ bottom lines. The report reveals observability’s adoption is on the rise and full-stack observability leads to better service-level metrics, such as fewer, shorter outages and lower outage costs. Respondents receive a median $2 return per $1 of investment in observability, with 41% receiving more than $1 million total annual value.

The third annual study is once again the largest, most comprehensive of its kind, and the only study to open-source its raw data. This year’s report surveyed 1,700 technology professionals, including 1,100 practitioners — day-to-day users of observability tools — and 600 IT decision-makers across 15 countries, to understand the current state of observability, the areas with the most and least amount of growth, and the external forces influencing spending and adoption.

According to the research, organizations are using fewer observability tools than in 2022 and are beginning to adopt single, consolidated observability platforms. While monitoring is still fragmented and most organizations do not yet monitor their full technology stacks, more observability capabilities were deployed year-over-year, and 58% more organizations have achieved full-stack observability.

Findings from the 2023 Observability Forecast include:

  • Downtime costs $500K+ per hour: 32% of respondents said critical business app outages cost more than $500K per hour of downtime. Respondents report a median annual outage cost of $7.75 million, those with full-stack observability experience a median outage cost 59% lower than those without full-stack observability.
  • Full-stack observability is on the rise: While most organizations still don’t monitor their full tech stack, this is changing. Full-stack observability increased 58% YoY. By mid-2026, at least 82% of respondents expected to deploy each of the 17 different observability capabilities.
  • Tool consolidation is preferred: Tool sprawl remains an obstacle for organizations of all sizes despite a 2-to-1 preference for a single, consolidated platform. However, the proportion using a single tool more than doubled year-over-year, and the average number of tools deployed has gone down by almost one tool.

“High-business-impact outages are incredibly expensive for today’s organizations,” said Peter Pezaris, Chief Strategy and Design Officer at New Relic. “The Observability Forecast shows that teams with full-stack observability consistently have fewer outages while detecting and resolving issues faster than those without. This translates to lower outage costs, a higher annual return on investment, and a positive effect on an organization’s bottom line. The business value of observability is clear.”

Observability Improves Service-Level Metrics

One of the report’s key takeaways is that organizations that achieve full-stack observability improve service-level metrics — particularly mean time to resolution (MTTR) and mean time to detection (MTTD) — and get the most out of their investments. Respondents with full-stack observability were more likely to experience the fastest MTTR and MTTD (less than 30 minutes), as well as seeing the most improvement for both metrics year-over-year.

The research shows that investing in observability pays off. For example, respondents who said their organization has more than five observability capabilities currently deployed were 40% more likely to detect high-business-impact outages in 30 minutes or less, compared to those with one to four deployed. As critical business application outages grow ever more expensive — 61% said downtime costs at least $100,000 per hour — the impact on service-level metrics translates to significant savings. Organizations with full-stack observability had median outage costs of $6.17 million per year compared to $9.83 million per year for those without full-stack observability — a cost savings of $3.66 million per year.

Respondents recognize the hard financial stakes attached to observability. Asked to name the most significant business outcome if an organization did not have an observability solution, they pointed to the concrete impacts of higher operation costs and revenue loss from downtime.

Benefits of Observability

According to the Observability Forecast, practitioners and IT decision-makers are seeing clear but different benefits as a result of their current observability solution. The report reveals that observability:

  • Increases productivity and release velocity: Almost half (46%) of practitioners said it increases their productivity so they can find and resolve issues faster.
  • Makes the job easier: About a third (35%) of IT decision-makers said it helps them achieve technical key performance indicators (KPIs) and/or business KPIs (31%).
  • Ensures peak demand performance: Of the total respondents, two out of five (40%) said improved system uptime and reliability is a primary benefit — 13% more than last year — while 38% cited increased operational efficiency and 34% focused on security vulnerability management.

Trends Driving Observability

Observability remains a business imperative for forward-thinking enterprise leaders. By mid-2026, 82% or more of respondents expected to deploy each of the 17 different observability capabilities. Most organizations may have robust observability practices in place within three years, highlighting the industry’s growth potential.

Nearly half (49%) indicated an increased focus on security was driving the need for observability, followed by the integration of business apps into workflows and the adoption of AI technologies. The security focus reflects the rise of cybersecurity threats and complex cloud-native application architectures that introduce additional risk. For OpenTelemetry, scalability (52%) and the fact that it integrates with their existing tool stack (46%) were driving its adoption, indicating that OpenTelemetry is a movement vendors must embrace to meet customer demands.

Confluent Announces the Data Streaming Startup Challenge

Confluent Announces the Data Streaming Startup Challenge

data management 13 Sep 2023

Contest will showcase and reward early-stage startups that are leveraging data streaming to transform their industries

Confluent, Inc. (NASDAQ:CFLT), the data streaming pioneer, today announced the Data Streaming Startup Challenge. The Data Streaming Startup Challenge is a global competition that recognizes and rewards early-stage startups that are building innovative applications with Confluent. Startups will compete for a grand prize up to a $500,000 investment from Confluent, marketing exposure, and access to venture capitalists and Confluent co-founders who will provide seasoned mentorship.

Startups have long been at the forefront of transformation, revolutionizing industries and disrupting the status quo. Media startups changed how we watch our favorite shows. Ride sharing companies changed how we travel and online retailers changed the way we shop. Data streaming plays a key role in all of these use cases by powering the flow of real-time data across the entire organization, to fuel next-gen customer experiences and business operations. The Data Streaming Startup Challenge will shine a light on the game-changing applications early stage startups are building.

Judges in the Data Streaming Startup Challenge include:

  • Matt Miller, Partner, Sequoia Capital
  • Eric Vishria, Partner, Benchmark
  • Carlos Gonzalez-Cadenas, Partner, Index Ventures
  • Jay Kreps, Co-founder and CEO, Confluent
  • Shaun Clowes, Chief Product Officer, Confluent

“At Sequoia, we approach investing with an eye to become a founder’s most valued partner and to dream with them on a scale of decades,” said Matt Miller, partner, Sequoia Capital. “I always keep an eye out for what we call an outlier mentality - founders that have a chip on their shoulder to do something different, solve a problem and grow through challenges. The Data Streaming Startup Challenge will bring together startups with this drive to challenge the status quo and unlock new opportunities with data streaming.”

“Data streaming makes it easier for startups to turn data chaos into data products, enabling real-time processing and analysis for immediate insights,” said Tim Graczewski, Head of Confluent for Startups. “The Data Streaming Startup Challenge rewards startups that aren’t simply using Confluent Cloud, but testing the limits of how real-time data can be harnessed. I’m excited to meet more startups in the data streaming ecosystem and hear how this community of trailblazers are reimagining entire fields.”

The Prizes:

1 Grand Prize:

  • Up to a $500,000 investment
  • Global exposure through Confluent marketing channels

2 Runner-ups:

  • Up to a $250,000 investment
  • Global exposure through Confluent marketing channels

Top 10 Semi-Finalists:

  • $5,000 in Confluent Cloud Free Trial Credits
  • 2 passes to Kafka Summit London
  • Global exposure through Confluent marketing channels

Equal weighted criteria will include, long-term business potential, concept ingenuity, integration with Confluent Cloud and the leadership team’s ability to execute. Additional requirements include a pitch deck highlighting the core value proposition, how the startup uses Confluent Cloud, and details about the current state of the business. This will also include a 5 minute demo video showcasing the startup’s application and how they use Confluent. Finally, all startups submitting will need to be an early stage entity that is less than 5 years old and has raised less than $10 million to date.

DeepIntent Launches DeepIntent Copilot, AI-Powered Recommendations and Insights to Usher in New Intelligent DSP

DeepIntent Launches DeepIntent Copilot, AI-Powered Recommendations and Insights to Usher in New Intelligent DSP

artificial intelligence 12 Sep 2023

Leveraging unique connected datasets from across DeepIntent's platform, DeepIntent Copilot provides actionable insights and recommendations focused on achieving healthcare-specific KPIs

Healthcare advertising technology leader DeepIntent announced the launch of DeepIntent Copilot, a groundbreaking step toward more integrated and intelligent healthcare advertising using connected artificial intelligence (AI). Seamlessly bridging media spend and clinical outcomes, Copilot is a new tool that works alongside marketers to offer actionable insights and recommendations that optimize marketing decisions and drive more relevant connections with patients and healthcare providers (HCPs) across the path to prescription.

Driven in part by digital access, patients are now active participants in their health journey, offering pharma marketers more opportunities to activate cohesive, data-driven strategies across patients and their HCPs. However, that data is often siloed within numerous point solutions, which makes it challenging for brands to know they're reaching the right HCP and patient audiences with maximum efficiency and performance. Additionally, their investments are equally fragmented across various channels and partners, each with nuances that often result in measurements that are too delayed to be actionable.

DeepIntent's unique ability to connect data across planning, activation, and measurement has already begun to solve these challenges. DeepIntent Copilot builds on this foundation using generative and connected AI to create an interactive experience that surfaces meaningful insights and recommendations based on real-time media data tied to clinical outcomes. The result is a platform that empowers healthcare marketers to streamline campaign activation and focus their media investments on the audiences and strategies that drive measurable growth and ultimately improve patient outcomes.

Examples of DeepIntent Copilot driving performance and efficiency include:

  • Pre-optimizing campaigns with audience recommendations that maximize performance against specific goals, like audience quality and verified patient reach
  • Maximizing media investment during activation with campaign and channel insights rooted in real-world clinical outcomes
  • Generating recommendations to traders for enhancing scale and performance for HCP and patient campaigns
  • Evaluating the value of millions of ad opportunities per second and prioritizing those that drive higher AQ and increase scripts

"AI remains artificial unless you have fully integrated data and solution connectivity, which DeepIntent's platform provides. DeepIntent Copilot marks the dawn of a new category of DSP: an intelligent DSP which supercharges all existing advantages of a healthcare DSP with AI. Our platform already allowed marketers to do it all in one place. By having AI everywhere, we simplify campaign planning and reduce the time required to achieve positive ROI by giving marketers and their agencies the tools they need to be dynamic. This allows them to detect and anticipate changes in the marketplace and adapt their campaigns and strategies in real-time," said Chris Paquette, Founder and CEO of DeepIntent.

Hibu, an H.I.G. Portfolio Company, Acquires Marketing Technology Platform of Signpost Inc.

Hibu, an H.I.G. Portfolio Company, Acquires Marketing Technology Platform of Signpost Inc.

digital marketing 12 Sep 2023

H.I.G. Capital, a leading global alternative investment firm with $58 billion of capital under management, is pleased to announce that its portfolio company, Hibu, Inc. (“Hibu” or the “Company”), has acquired the marketing technology platform, Signpost, Inc. (“Signpost”). Hibu is the leading provider of technology-enabled digital marketing solutions to small and medium-sized businesses (“SMBs”) across the United States.

Signpost’s marketing technology platform, which includes its Marketing Automation, Messaging Hub and Instant Response solutions, allows SMBs to design and deploy optimized text and email marketing campaigns, instantly respond to leads via automated text messages, manage communications across multiple platforms from an integrated messaging hub, and collect customer feedback and reviews. This one-stop marketing and communication tool empowers its clients to efficiently acquire, retain, and enhance relationships with prospective and existing customers to increase conversions from digital marketing campaigns.

Kevin Jasper, Chief Executive Officer of Hibu, commented: “We are thrilled to add Signpost's marketing automation capabilities to our existing portfolio of proprietary technology, further enhancing our ability to deliver exceptional results to our SMB customers. The acquisition will bring the full capabilities of Signpost’s advanced technology to Hibu Assistant and to the entire Hibu digital marketing platform, accelerating our product development roadmap and our plans to bring new features to market.”

Matt Gullen, Managing Director at H.I.G., said: “This acquisition provides a feature-rich and user-friendly technology that is highly complementary to Hibu, enabling it to better serve the unique needs of its SMB customers. We look forward to continuing to support Hibu’s growth journey through investments in technology that will enable the Company to continue delivering best-in-class results for customers.”

Teradata Launches ask.ai, Brings Generative AI Capabilities to VantageCloud Lake

Teradata Launches ask.ai, Brings Generative AI Capabilities to VantageCloud Lake

artificial intelligence 12 Sep 2023

The new natural language interface, now in private preview, delivers the ease of use required to democratize cloud analytics for increased agility, faster innovation and better decision-making

Teradata today announced ask.ai, a new generative AI capability for VantageCloud Lake. The natural language interface is designed to allow anyone with approved access to ask questions of their company’s data and receive instant responses from VantageCloud Lake, the most complete cloud analytics and data platform for AI. By reducing the need for complex coding and querying, ask.ai can dramatically increase productivity, speed and efficiency for technical users and expands analytic use to non-technical roles, who can now also use Teradata’s powerful, cloud-native platform to sift through mountains of data and draw insights. The increased use of data and analytics via VantageCloud Lake can drive breakthrough innovations that positively impact business results.

The mainstreaming of natural language interfaces has set new expectations for the ability to gather, understand and use information, even within complex enterprise environments and outside of traditional technical roles. Implementing these generative AI capabilities and expanding access can save employee time and improve productivity.

Generative AI tools are only as useful as an enterprise’s underlying analytic capabilities and quality of the data sets. The harmonized data approach and rich in-database analytics that Teradata provides in VantageCloud Lake is designed to ensure that ask.ai delivers accurate and comprehensive results, enabling trusted cloud analytics for more confident decision-making at every level.

“Teradata ask.ai for VantageCloud Lake enables enterprises to quickly get to the value of their data, wherever it is, and democratizes AI and ML,” said Hillary Ashton, Teradata’s Chief Product Officer. “Teradata was recently called out by Forrester for its strong vision and strategy that includes AI/ML at scale* and now Teradata ask.ai takes this even further with a dramatic improvement in productivity and ease of use. Enterprises choose Teradata’s open and connected platform which empowers AI and ML at massive scale, harmonizes data, and delivers a price-per-query advantage.”

VantageCloud Lake’s generative AI capabilities in ask.ai enable employees with approved access, from any function and at any level, to analyze and visualize data, analyze metadata, map tables for joining, generate code and more. Even technical experts should experience benefits: system administrators can save time and increase productivity by simply asking questions, and data scientists may see accelerated development and productivity by eliminating the need to manually write code. For every scenario and role, Teradata’s strong governance capabilities are designed to ensure appropriate access and security.

Key use cases include:

  • Data Insights: Teradata ask.ai enables quicker data exploration and insights. Users can ask questions in natural language and receive instant responses, eliminating the need to manually construct queries and scripts.
  • Model and Code-generation: Those without extensive coding experience can now create code snippets by expressing their intention in natural language, democratizing the process of data analytics. Data scientists will see accelerated development by reducing the need to manually write code, which is also intended to reduce syntax errors, increase code consistency, and enhance general productivity as developers can focus on high-level logic and problem-solving.
  • System Administration: It becomes easier and faster to retrieve system information related to VantageCloud Lake, such as environment and compute groups. An administrator can login and simply ask questions about the system (such as, “What is the state?” or “What is the current consumption?”) as if speaking to an informed colleague.
  • Metadata Analysis: Teradata ask.ai can provide information on table design, making it easier to explore datasets and schemas, helping users understand the nuances in data attributes and existing relationships between datasets. This makes it faster to understand the data available for building analytics, providing deeper insights.
  • Help: Any user can ask for help on a wide variety of topics, including general documentation, questions about what Teradata functions exist in a particular database, detailed descriptions for a particular function, SQL generation for that function, and more.

Coveo's groundbreaking enterprise-ready Relevance Generative Answering now live across Coveo’s own customer self-serve experiences

Coveo's groundbreaking enterprise-ready Relevance Generative Answering now live across Coveo’s own customer self-serve experiences

artificial intelligence 12 Sep 2023

Coveo live with its Relevance Generative Answering™, with secure, current, traceable, accurate answering from multiple sources of content, at enterprise scale

Coveo , a leader in AI platforms that enable individualized, connected, and trusted digital experiences at scale with AI search, GenAI answering, and AI recommendations today announced that Coveo Relevance Generative AnsweringTM is now live across Coveo’s own customer self-serve experiences: in-product help, documentation and community, showcasing a connected generative experience across multiple touchpoints and secure sources of content. To develop this best-in-class GenAI offering, Coveo is currently working with 20 design partners, such as Informatica, Synopsys, VMware, Xero, and Zoom, as well as 25 additional customers in its advisory group.

“For more than a decade, Coveo has been focused on deploying AI with hundreds of leading global enterprises,” said Patrick Martin, General Manager, Service at Coveo. “The go-live of Coveo Relevance Generative Answering is the latest step in this journey. This capability addresses the changing expectations in employee and customer experiences by offering them solutions to help them better self-serve, obtain immediate and accurate advice, and gain stronger proficiency. We want companies to not only be able to leverage GenAI technology but also to thread it into their entire digital journeys so they can deliver the customer and employee experience outcomes they want to achieve, from increasing CSAT to lowering cost to serve.”

Coveo Relevance Generative AnsweringTM is a powerful and natural extension of Coveo's market-leading AI platform, combining Large Language Model (“LLM“) technology with its secure indexing and AI relevance capabilities. It is built for customer and employee experiences, at scale. Coveo's generative answering is accurate, trusted, and ready for enterprises.

Removing silos, and managing complexity and compliance from enterprise generative answering
After more than a decade of experience helping enterprises with unifying content securely, expanding connectivity across tech stacks, and leveraging use-case specific AI, Coveo is in a unique position to deliver secure and relevant generated answers to large enterprises. Coveo's foundation of secure connectivity, indexing, search and AI has made it possible to personalize anonymous and authenticated sessions along entire digital journeys, while managing content access via permissions. Coveo embeds generative answering across the customer experience, allowing enterprises to generate answers across multiple touchpoints, from any source of structured or unstructured content, all with one AI platform.

As "Customer Zero", Coveo has enabled Relevance Generative Answering across its in-product help, documentation, and community. Search and generative answering cannot operate as separate silos; Coveo Relevance Generative Answering bridges the gap to deliver a unified and consistent user experience through:

  • System Integrations: integrate to your existing tech stack – Salesforce, ServiceNow, SAP, Adobe, Zendesk and more;
  • Connected journey, regardless of channel – Web, in-product, chatbot, voice support can be seamlessly integrated to provide a consistent and unified user experience, avoiding siloed interactions;
  • Unified index: ability to get real-time content (both structured and unstructured) wherever it resides – Confluence, Sharepoint, Google Drive, YouTube, CRM, knowledge bases, databases and more, enabling exponential growth in generative AI capabilities;
  • Security and privacy: built-in management of permissions and security of content used for answer generation;
  • Personalization: personalized content recommendations for authenticated and anonymous sessions, powered by AI, based on user context, behavior and intent detection mechanisms;
  • Veracity: an accurate, tailored answer is generated. Factual, up-to-date – complete with citations for traceability.

Sinch MessageMedia Launches new SMS service to improve customer experience

Sinch MessageMedia Launches new SMS service to improve customer experience

customer experience management 12 Sep 2023

New Zoho Desk integration expands partnership: provides customer service teams with robust two-way messaging platform to manage all customer interactions in one place.

Sinch , which powers meaningful conversations between businesses and their customers through its Customer Communications Cloud, today announced its global launch of SMS for Zoho Desk, which extends Sinch MessageMedia's industry-leading, two-way SMS capabilities. Deepening existing, highly-rated integrations with the Zoho Suite — SMS for Zoho Desk by Sinch MessageMedia enables customer service teams to easily manage and quickly address customer inquiries from a centralized platform, cutting down on response times and improving customer satisfaction.

"Customer service teams are integral to the success of a business — no matter the size. They shouldn't be bogged down by siloed messaging channels, which makes it harder to support customers and frustrating for everyone involved," said Sean O'Neal, President, SMB, Sinch. "We are proud to add to our robust portfolio of over 85 integrations with SMS for Zoho Desk by Sinch MessageMedia, fulfilling service teams' need for centralized, real-time conversational messaging and supporting the full customer journey — from marketing and sales, to service and support."

Customer service interactions can make or break customer relationships or a brand's reputation, with direct impacts to companies' bottom lines. Research from Sinch MessageMedia finds that customers are 82% more likely to have a favorable impression of a brand simply by being able to engage in two-way conversations.

SMS for Zoho Desk by Sinch MessageMedia empowers businesses to take their customer support to the next level. Seamless, one-to-one conversational messaging directly within Zoho Desk eliminates the need for support teams to juggle multiple platforms, and instant, automated responses free agents up to focus on more complicated customer queries. The result: reduced strain on staff and faster ticket times.

Blackstraw Announces Partnership with Microsoft to Help Drive Enterprise-wide AI Adoption

Blackstraw Announces Partnership with Microsoft to Help Drive Enterprise-wide AI Adoption

artificial intelligence 12 Sep 2023

Blackstraw AI, an enterprise-grade AI Solutions Provider, is pleased to announce the successful achievement of Microsoft's Solutions Partner Designation for Data & AI (Azure) and Digital & App Innovation (Azure) in the new Microsoft Cloud Partner Program.

Blackstraw AI, an enterprise-grade AI Solutions Provider, is pleased to announce the successful achievement of Microsoft's Solutions Partner Designation for Data & AI (Azure) and Digital & App Innovation (Azure) in the new Microsoft Cloud Partner Program. The new Solutions Partner designation provides benefits to Blackstraw and its clients through partner-only access to the latest Microsoft offerings, technical and deployment support, and training opportunities. With expertise in leveraging Microsoft Fabric, Azure Synapse Analytics, Azure Data Lake, Azure Data Factory, and Power BI, Blackstraw excels in designing and implementing tailored Microsoft data and analytics solutions.

The Microsoft Solutions Partner designation demonstrates Blackstraw's technical capabilities, experience, and ability to deliver successful customer outcomes aligned to the Microsoft Cloud, with the focus on data and analytics. To earn a designation, Blackstraw had to pass a series of all-new Microsoft certification exams, achieve customer success measures, and meet new customer performance targets. The Data & AI Azure designation recognizes Blackstraw's success in delivering solutions for clients in the areas of:

  • Analytics with Power BI
  • Data Management
  • Data Integration
  • Architecting, designing & delivering Azure Data Lakes and Data Warehouses
  • Schema Modeling
  • AI and Machine Learning
  • SQL Server Migration to Azure Cloud

As Microsoft Consulting Partners, Blackstraw will accelerate AI-driven innovation for clients across industries on Microsoft Azure Cloud. Blackstraw's in-depth knowledge and deep expertise in helping enterprise customers modernize and democratize their Data and AI footprint at scale are valuable for the partnership with Blackstraw.

We're excited to be among some of the first partners to achieve the new Microsoft Data and AI Azure Solutions Partner Designation since the program's launch, which will further enhance the support we can offer clients," said Atul Arya, CEO of Blackstraw. "By combining the power of Microsoft Azure Cloud Platform and Blackstraw's advanced AI/ML capabilities, our teams will empower customers to leverage data-driven MLOps and enable enterprise AI success."

   

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