Finding value in big data doesn’t stop at applying analytics to masses of static information. Today, organizations need to pull immediate insight from real-time, streaming data. Traditional approaches, which apply analytics after data is stored, may provide insight too late to act.
Event stream processing analyzes high-velocity big data as it is received. This drastically reduces time to decision so that you can make those critical decisions in time to be the most effective.
Here are some instances where real-time decision-making comes into play:
- Fraud detection to ensure that every bank transaction is valid.
- Real-time analysis of social data streams to understand customers’ sentiments about your products.
- Personalized online offers based on consumers’ website search criteria.
Other potential uses within capital markets include pre-trade risk analyses, consolidated order books, trading surveillance and fraud prevention applications.
“Firms that are wrestling with the challenges of risk, regulation and revenue growth need to be both faster and smarter in data management and analytics to turn information into reusable assets that better address client needs while improving efficiency and use of capital,” said Larry Tabb, founder and CEO of the TABB Group, a financial markets’ research and strategic advisory firm focused on capital markets.
Learn more about what event stream processing can do for your organization.