We are in a world where data drives decisions. Every business should be capable of taking decisions in real-time or near real-time. This is where the Stream analytics comes to the rescue.
Stream analytics helps businesses take quick decisions based on the data so that they can benefit from it. It could be understanding the behaviour of the customers based on likes and dislikes, catching fraudulent financial transactions, reporting health conditions of patients and many many more applications.
There are many tools & technologies available in both open source and managed products.
Some of the open-source ones which I have used are Apache Spark Streaming + Kafka, Apache Storm+Kafka, Apache Flink, etc.
Some of the points to be kept in mind:
1) Is the solution scalable as many times stream analytics can be really compute-intensive and should be Cloud-compatible?
2) Number of data sources that can be connected
3) Pricing
4) Is it really real-time or near real-time: depends on the need. E.g., for truly real-time applications Apache Spark Streaming may not be a good option but for near real-time/micro batching, it is wonderful.
These are my thoughts on the topic.
Search for a product comparison in Streaming Analytics
If you are on the fence about whether or not streaming analytics tools can help your organization, you may be more optimistic about investing in one after understanding its benefits. Although streaming analytics is somewhat of a newer technology, it still has a lot of advantages to offer and is suitable for businesses of all sizes.
It doesn’t matter if your business is big or small, you still remain a target for cyberattacks. When it comes to cybersecurity and threat monitoring, streaming analytics allows you to see logins (both attempted and successful) in real time. For example, a security operations center can detect an attack in a matter of minutes using streaming analytics, as opposed to it taking much longer than that to detect a breach without them.
Moreover, streaming analytics can give you immediate insights into who to target for your next campaign and where conversion rates could be boosted. Streaming analytics tools also make a difference when it comes to troubleshooting issues. In addition, streaming analytics makes it possible to deliver precisely-crafted upsells at just the right time, allowing your organization to make significant improvements to the bottom line. In other words, streaming analytics tools offer recommendation engines, making it easier for you to determine who is most likely to want which products or offers.
Another benefit of using streaming analytics tools is that you can use them for your customer billing services. By doing so, you can immediately gain visibility into potentially fraudulent actions before they become irreversible. Sometimes streaming analytics is matched with machine learning in order to develop models that can help identify anomalous activity with speed and precision.
Streaming analytics can also help your organization understand when they should perform maintenance and updates on employee computers, wireless routers, IoT devices, etc. What’s also good about streaming analytics tools is that they can collect real-time responses to your organization’s products and can help identify new opportunities. Furthermore, they enable proactive business process management, which is helpful because customer preferences are constantly changing and business processes need to change with them in order to keep up with competition. Using streaming analytics tools will help your organization know the why, what, and how behind each customer action. When you have that information at hand, it is possible to optimize the business process for better efficiency.
Beyond that, streaming analytics gives your organization the ability to spot trends and prepare for contingencies, and allows you to be more proactive in uncertain situations. If you are able to be proactive, you can minimize downtime. Besides improving operational efficiencies, streaming analytics tools help reduce infrastructure costs.
In summary, streaming analytics tools allow you to identify problems before they become an issue. Many times, with streaming analytics, you can prevent certain events from happening in the first place. By being able to predict and detect significant events the moment they occur, and when it matters most, your organization is more likely to minimize risk and maximize gain.
Streaming Analytics is crucial for processing real-time data to enhance decision-making and operational efficiency. It empowers businesses to derive actionable insights from continuous data streams.As organizations handle increasing volumes of data, Streaming Analytics solutions provide the tools to analyze and act on data in motion immediately. These solutions are designed to integrate with diverse data sources, applying algorithms and rules that allow for instant insights and responses....
We are in a world where data drives decisions. Every business should be capable of taking decisions in real-time or near real-time. This is where the Stream analytics comes to the rescue.
Stream analytics helps businesses take quick decisions based on the data so that they can benefit from it. It could be understanding the behaviour of the customers based on likes and dislikes, catching fraudulent financial transactions, reporting health conditions of patients and many many more applications.
There are many tools & technologies available in both open source and managed products.
Some of the open-source ones which I have used are Apache Spark Streaming + Kafka, Apache Storm+Kafka, Apache Flink, etc.
Some of the points to be kept in mind:
1) Is the solution scalable as many times stream analytics can be really compute-intensive and should be Cloud-compatible?
2) Number of data sources that can be connected
3) Pricing
4) Is it really real-time or near real-time: depends on the need. E.g., for truly real-time applications Apache Spark Streaming may not be a good option but for near real-time/micro batching, it is wonderful.
These are my thoughts on the topic.
If you are on the fence about whether or not streaming analytics tools can help your organization, you may be more optimistic about investing in one after understanding its benefits. Although streaming analytics is somewhat of a newer technology, it still has a lot of advantages to offer and is suitable for businesses of all sizes.
It doesn’t matter if your business is big or small, you still remain a target for cyberattacks. When it comes to cybersecurity and threat monitoring, streaming analytics allows you to see logins (both attempted and successful) in real time. For example, a security operations center can detect an attack in a matter of minutes using streaming analytics, as opposed to it taking much longer than that to detect a breach without them.
Moreover, streaming analytics can give you immediate insights into who to target for your next campaign and where conversion rates could be boosted. Streaming analytics tools also make a difference when it comes to troubleshooting issues. In addition, streaming analytics makes it possible to deliver precisely-crafted upsells at just the right time, allowing your organization to make significant improvements to the bottom line. In other words, streaming analytics tools offer recommendation engines, making it easier for you to determine who is most likely to want which products or offers.
Another benefit of using streaming analytics tools is that you can use them for your customer billing services. By doing so, you can immediately gain visibility into potentially fraudulent actions before they become irreversible. Sometimes streaming analytics is matched with machine learning in order to develop models that can help identify anomalous activity with speed and precision.
Streaming analytics can also help your organization understand when they should perform maintenance and updates on employee computers, wireless routers, IoT devices, etc. What’s also good about streaming analytics tools is that they can collect real-time responses to your organization’s products and can help identify new opportunities. Furthermore, they enable proactive business process management, which is helpful because customer preferences are constantly changing and business processes need to change with them in order to keep up with competition. Using streaming analytics tools will help your organization know the why, what, and how behind each customer action. When you have that information at hand, it is possible to optimize the business process for better efficiency.
Beyond that, streaming analytics gives your organization the ability to spot trends and prepare for contingencies, and allows you to be more proactive in uncertain situations. If you are able to be proactive, you can minimize downtime. Besides improving operational efficiencies, streaming analytics tools help reduce infrastructure costs.
In summary, streaming analytics tools allow you to identify problems before they become an issue. Many times, with streaming analytics, you can prevent certain events from happening in the first place. By being able to predict and detect significant events the moment they occur, and when it matters most, your organization is more likely to minimize risk and maximize gain.