The Data in the Dark Dilemma: How Streaming Analytics Can Help

Last week I hosted a webinar on streaming analytics where Dale Skeen, Vitria’s CTO and co-founder and Mike Gualtieri, Principal Analyst at Forrester shared fascinating examples of companies that are improving their customers’ experience and engaging in micro targeted 1:1 marketing in real-time, thanks to these innovations in analytics.

During the presentation, Mike also shared highlights and insights from Forrester’s recent survey on Big Data initiatives that got me thinking about how a company’s “data in the dark” dilemma impacts its ability to treat its customers as royalty and where streaming analytics can help.

The “Data in the Dark” Dilemma

61% of the respondents in Forrester’s survey said that they had Big Data initiatives in place. However, they also admitted to only being able to analyze a paltry 12% of all the data that they captured. That leaves a whopping 88% of data lurking in the dark. Why capture all this data and let it slide into the abyss?

What if you could easily uncover and analyze true business activity patterns from these vast data stores and use that insight to drive improvements in operational efficiency and your customers’ experience? In fact, go one step further – reconsider the traditional “store first, analyze and access later” approach.  Advancements in stream processing put you in a position to analyze and act on live streams of data first, before it becomes stale and of little consequence.

Customer Royalty is All the Rage – And a Challenge

Nearly 70% of Forrester’s survey respondents indicated that “treating customers as individuals” was vitally important. As Mike put it during his presentation, your ability to treat customers as royalty really hinges on your ability to move dynamically with them. If you can’t identify and address their problems and 1:1 situational marketing possibilities in real-time, the window of opportunity shuts before you can get out of the gate.

It’s clear that having the right tools in place to deliver against this value proposition is critical.  Most companies have invested heavily in technologies that let them collect and store data in silos for near real-time analysis at best. But for identifying and remediating customer issues before they churn and move to a competitor that’s probably just a mouse-click away, you really need a solution that can tackle “data in motion.”

Streaming analytics empowers you to not only identify problems in real-time but also to take action to remedy issues before they bleed into the broader organization or affect the customer. Why not explore the benefit of streaming analytics at your own pace at http://www.vitria.com/solutions/streaming-big-data-analytics/benefits/

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