7 Ways to Get More Out of Streaming Analytics

Data analytics are a key part of any industry.

11:26 29 January 2021

Companies have always collected data—who needs what, when and where—even when that was just by word of mouth at the local market. These days, of course, data collection, data preparation, and data integration are all happening at a much, much larger scale. Moreover, the analysis of all the raw data, and the synthesis of that data into understandable bite-sized graphs and other visualizations, needs to happen faster. Actually, it needs to happen all the time, without stopping.

 

It's true that yesterday's news is helpful to business leaders. Historical data can help to predict market trends and keep you from tripping up in the same way that you did last year. That being said, yesterday's news doesn't help you if you don't know what's happening right now, on the ground. Any lag in data analysis can result in major negative repercussions for a market leader. You need to know what's happening in your supply chain, on your factory floor, and in the office as it happens. That's where real-time streaming analytics from a top of the line business intelligence platform comes into play. So how can you get the best out of your streaming analytics? Read on to learn more.

 

1. Understand cause and effect.

 

With your raw data synthesized into gorgeous visuals that make them easy to understand, you'll be able to locate the root of any problem your company may be facing. By using streaming data, you can see fluctuations as they happen. In this way, even if the cause of the problem or challenge is changing as you look at it, you'll have a handle on it. By understanding the cause, you'll be more effective.

 

2. Integrate historical data with real-time data.

 

Leading software in the field of business intelligence, according to the Gartner Magic Quadrant data science report, work both on private and public clouds and allow you to take a look at your historical data side by side with your real-time streaming data. By providing visuals that integrate the two forms of data, you can recognize trends and use the past to inform you present and, therefore, your future as well.

 

3. Be more insightful.

 

Streaming data makes your insights more accurate and, therefore, more valuable. Data visualization that is streaming in real-timeandallows you to zoom in on timeframes, specific market movements, and the like allows youth be more insightful when it comes to key business decisions.

 

4. Empower your users.

 

You can't see everything, even if you're the most talented business leader in your field. That's why putting streaming analytics into the hands of your users allows you to have more eyes on the company. Don't shy away from the feedback you'll get. Instead, use those many eyes as opportunities to constantly fine-tune your processes.

 

5. Compare time frames.

 

Streaming analytics allows you have the most up-to-date information. Excellent business intelligence platforms allow you to select specific time frames and compare them with the here and now, thereby providing the most incisive insights for your business practices.

 

6. Enjoy the speed of an ultra-fast engine.

 

Who doesn't love the fast-paced life of a business leader? That's why you got into the game, but you need your business intelligence solutions to keep up with you. Fortunately, a truly excellent business intelligence solution will allow you to use a super fast query engine so that you are both getting your analytics in real time and you don't have to wait for the answer to your query.

 

7. Provide customizable dashboards to employees.

 

Your company is not a one size fits all organization. Different employees and teams have different needs, so make sure that your analytics solutions have customizable dashboards so that they can get the most out of their user experience.