The benefits of real-time data via in-memory database technology
Having a lot of data pouring into your organization is one thing. Being able to store it, analyze it and visualize it in real-time is a whole different ball game. More and more organizations need to have real-time insights in order to fully understand what is going on within their enterprises – and with their customers. What are the business benefits of real-time Big Data, what are the challenges, and which tools can be used for real-time processing of Big Data?
The advantages of processing Big Data in real-time are many:
Competitive awareness and advantage: Your competition’s new strategies will be noticed immediately. With real-time Big Data you can stay one step ahead of the competition or be notified the moment a direct competitor changes strategy – for example, by lowering its prices.
Service improvements: When organizations monitor the products used by customers they can pro-actively respond to impending problems. For example, cars with real-time sensors can notify carmakers before something goes wrong, enabling the manufacturer to notify the driver that the car needs maintenance.
Fraud detection: The financial world is very attractive to criminals. With a real-time safeguard system, attempts to hack into your organization can be instantly identified. Your IT security department can immediately take appropriate action, enabling you to limit the damage.
Better sales insights: Real-time analytics let you see exactly how sales are doing. For example, Internet retailers can see how a product is doing in real time and can take action in real time to boost sales – and revenue.
Respond to customer trends: Insight into competitive offerings, promotions or customer activity provides valuable information on customer behavior. Faster decisions can be made with real-time analytics to enable the business to adjust offers to suit current customers – or attract new prospects.
Mitigate operational risk: Real-time insight helps companies react quickly to mitigate the effects of an operational problem. This can save the operation from falling behind, disappointing customers, or failing.
Traditional RDBMSs offer proven business value but may be too costly or slow. NoSQL databases are popular but are a bad fit for this use case, which requires scale and flexibility with data consistency and Big Data analytics capability. Why make tradeoffs? VoltDB is a No Compromise solution – the only solution that offers the performance of in-memory, unlimited scalability, and the transactional consistency of traditional relational databases.
Unlike traditional RDBMSs, VoltDB delivers industry-leading performance and scalability on a modern cloud-friendly platform. Don’t sacrifice the business benefits of real-time data – choose the in-memory performance and real-time analytics capability of NewSQL VoltDB to reduce time to solution, increase flexibility and agility, and leverage investments in training and business applications.