Real time business intelligence allows you to analyse data that is up-to-the-minute, rather than relying on delayed, historical or batch-processed data.
This allows you to use data not only for long term strategic use cases, but also for operational analytics where we are using analytics in a forward looking way to capture opportunities, identify inefficiencies and combat threats.
Key features and benefits of real-time business intelligence include:
Instant Data Processing
Real-time business intelligence systems process and analyze data as soon as it is generated or captured, without any delays.
Streaming Analytics
Real-time business intelligence often involves the analysis of streaming data, which is data generated continuously and in real time. This can include data from sensors, social media, website interactions, and other sources.
Real Time Dashboards and Visualizations
Real-time business intelligence relies on interactive dashboards and visualization tools to present data in a meaningful way. These tools enable users to quickly understand and interpret the data, facilitating faster decision-making.
Alerts and Notifications
Real-time business intelligence systems can be configured to generate alerts or notifications when certain predefined conditions or thresholds are met. This allows businesses to respond promptly to critical events or changes.
Integration with Operational Systems
Real-time business intelligence systems are often integrated with operational systems, such as transactional databases, to ensure that the analysis is based on the most current and relevant data.
These benefits are particularly valuable in industries and scenarios where quick decision-making is essential, such as finance, e-commerce, supply chain management, and emergency response systems.
Technical Foundations
Unfortunately, traditional tools and approaches to data and analytics do not scale to deliver solutions like this.
There are too many delays in the process, and the systems often used are not performant enough to process high volumes of data with low latency. In addition, traditional business intelligence tools are not rich and flexible enough to meet the business demands.
This technology stack needs to be re-invented for the cloud, with tools and architectural patterns that are built for real-time advanced use cases and predictive analytics:
Introducing Ensemble
We are Ensemble, and we help enterprise organisations build and run sophisticated data, analytics and AI systems that drive growth, increase efficiency, enhance their customer experience and reduce risks.
We have a particular focus on ClickHouse, the fastest open-source database in the market, which we believe is the fastest best data platform for systems like this.
Want to learn more? Visit our home page or download our free report that describes the process for implementing advanced analytics in your business.
