Real-Time Analytics Monitoring Will Give you an Edge

In today’s competitive environment with high consumer expectations, decisions that are based on the most current data will improve customer relationships, increase revenue, and maximize operational efficiencies. The speed of today’s processing systems has moved classical data warehousing into the realm of real-time.

The result is real-time business intelligence.

Business transactions are fed as they occur to a real-time business intelligence system that maintains all the vital data that is responsible for the current state of the enterprise. The real-time system not only supports the classical strategic functions of data warehousing for deriving information and knowledge from past business activity, but it also provides real-time tactical support to drive enterprise actions that react to immediate events.

Swift reaction to cost-saving opportunities is a must in today’s fast-paced, data-driven world. The quick reflexes of an enterprise organization make them agile and can provide a real edge over the competition. The more money that can be saved in one area may mean that another, more important aspect of the enterprise can garner much-needed attention.

Real-time capabilities go hand-in-hand with self-service, as those business users who steer their organization’s ship need to have the ability to take action when facing an important business decision. Interactive and visually enhanced dashboards are also important in real-time analytics and monitoring. In addition, users also need to have the ability to navigate through data, store data, respond to alerts, and report on their findings.

Given the benefits that real-time analytics produce, only those companies who deem the concept necessary to the smooth running of their business deploy it, due in large part to high costs. One negative surrounding heavy reliance on real-time analytics monitoring is overlooking historical trends. While the technology behind real-time business intelligence may still lag behind its perceived value, the future is now, and as more enterprise organizations adopt these features, the price tag will drop and the technology will evolve.