Big data is often characterized by the 3Vs
- Extreme Volume of data
- Wide Variety of data types
- Velocity at which the data must be processed
Although big data doesn’t equate to any specific volume of data, the term is often used to describe terabytes, petabytes and even exabytes of data captured over time. Analytics attempts to improve decision making, and big data doesn’t change that. Large organizations are seeking both faster and better decisions with big data, and they’re finding them. Driven by the speed of Hadoop and in-memory analytics, several companies are focused on speeding up existing decisions. Some firms are more focused on making better decisions analyzing new sources of data.
Advantages of processing Big Data in real-time
- Real-time insight into errors helps companies react quickly to mitigate the effects of an operational problem. This can save the operation from falling behind; failing completely or it can save your customers from having to stop using your products.
- Real-Time Big Data Analytics you can stay one step ahead of the competition or get notified the moment your direct competitor is changing strategy.
- Improve service dramatically, which could in turn lead to higher conversion rate and extra revenue. When organizations monitor the products that are used by its customers, it can pro-actively respond to upcoming failures. For example, cars with real-time sensors can notify customers before an error occurs and let them know that the car needs maintenance.
- A real-time safeguard system can instantly attempts to hack into your organization and the IT security department can take appropriate actions to limit the damage.
- The implementation of a Real-Time Big Data Analytics tools may be expensive, it will eventually lead to huge cost savings. There is no waiting time for business leaders and in-memory databases (useful for real-time analytics) also reduce the burden on a company’s overall IT landscape, freeing up resources previously devoted to responding to requests for reports.
- Real-time analytics brings better sales insights and in turn additional revenue. For example, an internet retailer sees that a product is doing extremely well; they can take action to prevent missing out or losing revenue.
- Insight into competitive offerings, promotions or your customer movements provides valuable information regarding coming and going customer trends. Faster decisions can be made with real-time analytics that better suit the (current) customer.
Nalashaa has been partnering with businesses across an array of verticals including healthcare, mortgage, education and retail among many others, to deliver enterprise as well as consumer solutions. With deep knowledge of business drivers across these domains, Nalashaa is positioned to leverage technology and the right resources to help its customers with meaningful insights to derive actionable results.
We deliver solutions across technologies that includes – Microsoft, Oracle, IBM, Data Stage, Talend, Jasper Soft, Pentaho, Birt, Qlikview, Tableau, R, SAS, Stata etc.