Real-time in-memory analytics

BANGALORE, INDIA: The evolution of reporting and analytics has seen dramatic changes in recent years. From green-bar reports of the 70s to data warehousing of the 80s, technology has matured to what we have today as business intelligence.

Business intelligence is acting as a performance management or business activity monitoring for many businesses, however with the increasing demands from businesses for faster and easy access to information in order to make reliable decisions based on real-data, In-Memory technology is emerging as a front-runner.

In-Memory technology is the big growth area is global performance management and key decision enablement. It has the potential for real-time analysis, instant access to data in no time with data collated from various sources. In-Memory concept gives us the ability to utilize predictive models, warning management systems as it analyzes information in real-time at unprecedented speed on large volumes of non-aggregated data, with analytic models based on real-time and historic data for better management.

In a recent survey conducted by Quartet FS, which surveyed IT managers and system architects across the industry verticals, almost 55 per cent of respondents stated that big data is a very significant problem. Around 44 per cent respondent indicated that volume of data is the main challenge.

Big Data is a profound base for enlightening analysis, but often causes unacceptable response times. As the technology has advanced so is the demand for real-time analysis, predictive models, instant data access, better warning management systems for better decision making. With the increasing amount of data within organizations has increased the desire to have speed coupled with analytics on real-time data to reduce latency, the businesses are driven more towards In Memory technology.

 

In one of my recent visits to a famous store, I observed store manager announcing discounts on the products. I wondered how the discounts are offered in an hourly basis. My mind was buzzing with questions; does the store manager have the information available on products on hourly basis to announce discounts. So, I enquired if he had the information of sales analysis available with him to announce the discounts, to my surprise he replied stating that the discounts were already decided by the store management few days before.

I wondered if the same person has the real-time sales analysis information available or if the store management will have the real-time sales information available, the discount situation and the sales situation would have been different.

Nothing succeeds like access to real-time information at faster speed. In-memory technology, does not simply accelerate data access, but provides a quantum leap in data analysis by giving you access to transactional data in no time.

The author is SAP HANA specialist at Fujitsu Consulting India.