Having the most up to date information gives a competitive advantage to any business. Real time information enables companies to really understand what’s happening inside their business NOW, enabling them to analyse and optimise everything – from business processes to automated system workflows.
Additionally, being able to truly capture a snapshot from ‘today’ also enables companies to understand what clients and prospects are interested in or looking for.
It’s all about being able to adapt to any situation; and quickly too.
Where and how can business capture this vital data as it is happening? The answer: literally, from everywhere and at any time. This is the crux of Real Time data. Sounds great? Indeed it is… however, the trick lies behind the scenes; how do you merge all these different formats of data into one element? and, how do you capture this constantly changing data – to ensure you have the most up to date version of ‘truth.’
The benefits of these three innovations provide incredible opportunities; from a fridge sensor in large scale storage facilities notifying unwanted temperature rises, to providing localised information based on where a device is, to timing chip sensors crossing a pressure mat during a running race. Take the aggregated data a step further and link it to AI? The potentials are huge (now that’s an understatement!).
These devices all provide streams of continuously updated data, which feed into a central repository. Here data can be ‘sliced and diced’ into any desired format, giving an unprecedented flexibility into generating reports and dashboards on anything the business requires.
One such system is Streamcentral, which enables mass data collection from multiple sources with constantly changing data streams for analytical purposes. Last month we discussed Big Data. The second component this month is Real Time data. How it all pulls together to give businesses incredible insight can be seen in this diagram.
We are proud of our team of highly experienced & well connected professionals, who have been successfully delivering business solutions across diverse technologies and in multiple industry sectors.
Our particular expertise is in the financial services and insurance sectors.
Along with this, we are able to call on our extensive network of consultants, partners and associates to augment our delivery capacity. TechFINIUM currently has operations in the UK, South Africa, and India.Harnessing Technology Boundaries