What is Streaming Analytics?
Streaming analytics systems can consume, interpret, and act on real-time streaming data from a variety of sources, allowing you to act quickly as events are still unfolding. It can collect and analyse vast amounts of data in "streams" from always-on sources like sensor data, telematics data, system logs, social media feeds, shift data capture data from conventional and relationship databases, and location data, among others.
What Are Stream Analytics and How Does It Work?
Streaming analytics, also known as event stream processing, is the study of large amounts of current and “in-motion” data using event streams, which are continuous queries. These streams are caused by a particular event that occurs as a result of a specific action or series of actions, such as a financial transaction, equipment malfunction, a social message, a website click, or some other observable operation. The information can come from the Internet of Things (IoT), purchases, cloud applications, web interactions, mobile devices, and computer sensors, among other sources. Organizations can derive business value from data in motion using streaming analytics systems, just as they can with data at rest using conventional analytics tools. Real-time streaming analytics aid a variety of industries by identifying opportunities and risks in real time.
Streaming Analytics Has a Lot of Benefits:
What Are Some Use Cases for Streaming Analytics in the Real World?
Cybersecurity, financial services, banking, manufacturing, the oil sector, healthcare, and many other sectors have used real-time analytics on streaming data. Listed below are a few examples:
It is very necessary for the companies to make use of the real-time initiated data immediately before losing the value of data. Data that loses its value ultimately results in incurring additional costs like operational, administrative, reputation damage, potential legal action, reduction in productivity and many more. Streaming analytics provides deeper insights with the help of data visualization, offers information about customer behaviour, and to be competent in nature. The strategic business shift towards real-time, which accurately provides forecasts for faster decision making, is also expected to drive the market growth.
Streaming Analytics Market: 25.7% CAGR
Projected Revenue: 60.98 billion from 2021 to 2027
For deeper dive check the full report here: https://whipsmartmi.com/Report/Streaming-Analytics-Market
Published Date : March-2021