As the data landscape grows more complex, organizations are moving quickly to keep up with the demands of real-time processing, cloud flexibility, and cost efficiency. At Flink Forward 2024 in Berlin, Ververica and the Apache Flink community brought together leaders, developers, and data architects to discuss the latest in streaming data technologies and explore new solutions that are reshaping the data streaming industry.
Growing Demand for Flexible, Cloud-Native Data Solutions
The central theme at this year’s Flink Forward was the growing need for data solutions that offer both scalability and flexibility without compromising on security. In a market where cloud complexity is rising, and hybrid or multi-cloud setups are common, companies are looking for ways to streamline operations, manage costs, and retain control over their data. This year, Ververica introduced its “Bring Your Own Cloud” (BYOC) option for the Ververica Streaming Data Platform — a solution designed to allow organizations to run Apache Flink in their own cloud environments.
BYOC is geared toward businesses aiming to optimize costs while maintaining security and governance controls. It offers companies a high degree of flexibility, letting them operate Flink deployments within their preferred cloud infrastructure, whether on AWS, Google Cloud, or Microsoft Azure. Key features of the BYOC offering include full observability, zero-trust principles for enhanced security, and integration with existing DevOps tools and CI/CD pipelines to speed up development cycles.
Project Fluss: Streamlining Data Processing Costs
Ververica also introduced Project Fluss, a new initiative focused on solving cost challenges associated with streaming data. Traditionally, combining real-time streaming with analytical data storage has required resource-heavy systems that drive up costs. Project Fluss aims to provide a unified storage system optimized for streaming workloads. This integrated approach allows companies to manage both real-time and long-term data processing needs without relying on costly third-party OLAP (Online Analytical Processing) systems.
In practical terms, Fluss could be a valuable tool for businesses balancing real-time data insights with historical data storage, making it easier to streamline operations and reduce infrastructure costs. With a purpose-built storage layer directly within Flink, Project Fluss offers a simplified, high-performance architecture that many organizations may find useful as they scale.
Apache Flink 2.0: Advancements in Stream Processing
The Apache Flink community also unveiled Flink 2.0, a significant update aimed at improving efficiency and adaptability for modern data use cases. Designed to support both batch and streaming workloads seamlessly, Flink 2.0 introduces a “materialized table” feature that allows businesses to work with dynamic, fresh data in real-time. This upgrade enables the Flink engine to adjust automatically based on batch or stream needs, making it easier for enterprises to handle diverse data loads without requiring separate systems for each type of processing.
The update also optimizes memory and disk usage, offering lower latency and faster processing times while cutting down infrastructure demands. For companies managing large datasets, these features can translate to better performance and potentially lower costs.
Industry Perspective: Real-Time Data is the New Standard
Throughout the conference, data experts reiterated that real-time data processing is becoming essential for industries where timing and insights directly impact decision-making. According to recent industry data, 73% of businesses cite real-time data as critical to their operations, highlighting the demand for platforms capable of processing data instantaneously. Additionally, the global market for real-time data solutions is expected to grow by over 20% annually, driven by sectors such as finance, healthcare, and retail, where the ability to react to immediate information is increasingly seen as a competitive edge.
As CTOs and data architects adopt these new tools, the emphasis is shifting toward solutions that can adapt on the fly, using machine learning and AI to power predictive insights. These advancements position streaming data platforms not just as tools for managing information but as critical components of business strategy.
Preparing for the Future of Data Streaming
The insights shared at Flink Forward 2024 underscored an important trend in data management: flexibility, speed, and security are top priorities as organizations work to keep up with evolving industry demands. Ververica’s new offerings address these priorities directly with solutions that meet the requirements of modern enterprises while preparing them for the future of data streaming. As the demand for real-time processing continues to rise, these innovations in the Apache Flink ecosystem may well set the standard for the next generation of data streaming technology.
