Streaming Analytics is simply the analysis of the large in-motion data, also known as event streams. Ideally, these streams are made up of events that arise because of certain triggers such as equipment failure or a financial transaction. You can have real-time analytic computations on data streaming from sensors, devices, social media, websites, infrastructure systems, and applications among many more others. The volume of events around a business activity will rise with the increase in the number of connected devices. The following are five benefits of streaming analytics for business purposes:
- Reliability and Quick Recovery: This service is cloud-based which protects against data loss. This system also assures of business continuity because you can retrieve data quickly when your hardware fails. This service can archive results and reapply them in future and thus get similar results. Customers can easily go back in time and investigate such data when doing various computations such as what-if analysis and root-cause analysis.
- Ability to use the Reference Data: You can select the type of reference data that fits your business model. You can use non-streaming data, which does not change frequently, or historical data. The system treats reference data just like any other incoming event stream and ingests it in real-time to perform transformations. You can compare historical against real-time data sensors and analyze how they relate. Such a comparison enhances creativity and shows how your customers and business adapts to changes.
- Low Cost: This service is a low-cost solution which keeps users going and helps them maintain real-time analytic solutions. The service providers charge you based on the amount of data that the system processes and streaming unit usage. Some providers such SQLstream.com helps you reduce hardware requirements by half because you use existing data warehouse investments and database which cuts down the overall operating costs. It is also one of the fastest channels to market and reach to a wide customer base.
- Increases Productivity: You can develop and maintain apps in a matter of seconds which saves you time. The analytics relays real-time information and thus allows you to develop solutions within the shortest time possible. Some business owners waste loads of time trying to handle basic coding activities. Stream analytics handles low-level coding and gives you ample time to focus on core business activities. You can take advantage of existing applications, skills-set, and data sources to improve your firm’s productivity. You can evaluate the patterns of errant behavior and develop sustainable solutions and improve your business model.
- Scalability: Stream Analytics can handle high event throughput as high as 1GB per second. This service ingests millions of events every second from click streams, log files, social applications, and connected devices. As a user, you can partition your computations into several logical steps which are within the query definition. Such steps can be partitioned further which increases the scalability which means more defined solutions.
Stream Analytics allows business owners to update their business model using data streams continuously. The low cost, increased productivity, reliability, and ease of recovery are among the major benefits of this service.