Benefits of Streaming Analytics in Business

Media Entertainment Tech Outlook | Wednesday, July 14, 2021

Use cases of real-time analytics performed on streaming data can be useful for enterprises to boost efficiency.

FREMONT, CA: Streaming analytics platforms can ingest, analyze, and act on real-time streaming data from many sources so firms can take immediate action while the events are still occurring. It can collect and analyze massive volumes of data arriving in streams from always-on sources like sensor data, telematics data, machine logs, social media feed, change data capture data from conventional and relationship databases, location data, and many more.

The difference between streaming analytics and conventional analytics lies in when data gets analyzed. Conventional analytics follows a store-first-then-analyze-paradigm, where it first stores the data and then analyzes it for getting insights. Traditional analytics is applied to data at rest. In streaming analytics, users analyze the data first while the events are still occurring and then store the needed batch analysis data. This enables streaming analytics platforms to manage the scale and constant flow of information and offer continuous insights to users across the organization.

Enterprises in every industry have data streaming from applications, social media, sensors, devices, websites, and many other sources. Essentially, streaming analytics is about extracting business value from data in motion in the same way conventional analytics tools use data at rest. Firms in every sector have data streaming available from applications, social media, devices, sensors, websites, and more sources; they require flexible, scalable tools and operations to make it accessible and useable at the moment it is required.

The customer gets an improved response and service experience. The firm can act before a small outage or incident evolves into a broader, more critical situation that may cost more time and money to remediate and harm their reputation. Besides, information derived from real-time analytics can be leveraged to identify anomalies and business changes as they occur. Such information enables firms to take instant action and seize an opportunity that they otherwise might miss.

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