Connecting the Dots: How Real-Time Analytics Tackle Diverse Data Sources

We recently attended two leading Big Data Analytics conferences and were pleased to have the chance to exchange and discuss ideas with other leading industry experts and learn about the challenges that companies are currently facing in the field.  At these conferences we administered a survey to better understand how companies are currently collecting and analyzing Big Data and where they’re experiencing problems with the tools currently available to them.

So what was our key takeaway?

There’s a serious gap between what companies identify as important Big Data analytics capabilities and their ability to tackle these goals and objectives because they don’t have the right tools in place to accomplish what they want to achieve. A whopping 94% of respondents described the ability to analyze data across disparate sources in real time as important. However, when we looked at the responses around solutions in place, a full 67% of respondents stated that their organization currently lacks this capability.

We know from working with our clients across industries that a real-time end-to-end view of their operations is critically important.  The problem, however, for organizations across the board is that data resides in various locations and formats and systems don’t talk to each other. Collected data sits untouched in silos because companies lack the tools to do anything with it.

When companies have the ability to analyze streaming data in real-time across diverse sources and formats, they’re empowered to not only streamline operations and improve the customer experience but also to boost revenue – and the key to achieving these benefits is the ability to connect the dots.

The ability to connect the dots hinges on accessing and correlating streaming Big Data across diverse sources in real-time. This capability enables companies to detect and remedy problems before they affect the customer or the broader organization – and also to capitalize on revenue producing events within the critical window of opportunity.

Just how “real time” is real-time? It depends on the industry and the service offerings. Our survey responses indicated that 41% of respondents stated that “the ability to capture and correlate data in minutes – or even seconds” was important. We weren’t surprised by this, because we know that for organizations playing in operations-driven industries – like telecom and energy – the seamless provision of service is predicated on continuity without disruption. The value proposition rests on the idea that there will be no glitches that upset the apple cart, and real-time Big Data analytics delivers against this expectation.

While the nuances across companies and industries clearly exist, the ability to collect and correlate data in real-time sits at the helm of operational effectiveness which in turn translates into better efficiency, an improved customer experience and incremental revenue producing events. These factors meaningfully move the needle on top line revenue and bottom line profitability – and that’s what operational intelligence is all about.

To access a copy of the full report, please visit http://www.vitria.com/pdf/Report-Big-Data-Analytics-Survey-2013.pdf

To view an infographic that summarizes the findings, please visit www.vitria.com/pdf/Report-Big-Data-Analytics-Survey-2013-Infographic.pdf

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