Real-time data refers to events and the respective data that is being collected, viewed, and presented as it is generated. Generally, it is about analyzing data that is new and, therefore, in motion. Businesses can gather, filter, and analyze data in order to make informed business decisions during this coronavirus pandemic and beyond.
The coronavirus crisis emphasizes the need for real-time information in both corporate and governmental organizations. A major roadblock for decision-makers is the lack of timely and up-to-date information. This is where real-time data processing comes in.
The need for real-time data processing in Medical services
Medical organizations can use predictive analysis from real-time data to forecast where the virus would spread. With timely reaction and an accurate reporting system, medical organizations can respond quickly and arrange the necessary medications and supplies that are needed in specific areas.
With the rapid rate of change in the health systems, data as recent as one week, or sometimes even a day or only a few hours, can be considered old and outdated information. This is why it is necessary to adopt real-time data processing for updated decision making.
The need for real-time data processing in Enterprises
According to Forrester, leading enterprises understand that real-time analytics is a major competitive advantage they have against their competitors. This is especially true for industries using IoT technologies.
With market interruptions that arise e.g. as a result of the Coronavirus pandemic, companies need agile methods such as real-time data analysis to meet the frequent and constant customer behavioral changes. Data is important in making accurate and timely decisions. For companies, poor and slow decisions can have drastic financial consequences.
If there is one thing we learned during the pandemic, it is that customer behavior, needs and problems change relatively fast. This is why we need to monitor customer behaviors in real-time.
As people and processes are being forced into adopting digital channels and operations due to the pandemic, it is time for companies to capture and analyze real-time data in order to advance their digital strategy.
Manufacturing companies, for instance, can use real-time data to monitor their production processes as well as changes in demand and requirements. This can boost efficiency and reduce waste. Underperforming processes and operations can be corrected immediately in order to reduce expenses and waste.
Creating and managing real-time data solutions will require investment in a solid technology that is effective, efficient, and easy to use for both IT experts, analysts, and management. This is where Streamsheets come into play. Eclipse Streamsheets is part of the Eclipse Foundation Project sponsored by Cedalo AG.
How does Streamsheets help companies and organizations use real-time data?
Streamsheets process, monitor, and analyze data streams from various sources in real-time.
Due to the Coronavirus pandemic, it is more important than ever for companies to act fast and timely in order to prepare for the future. With the Streamsheets real-time data analysis features, companies can;
- Stream data from and to devices on-premises and to the cloud.
- Build microservice apps in less than 10 minutes. See this video for a detailed tutorial.
- Users can visualize data streams in real-time in a spreadsheet-like drag-and-drop interface.
- Full Integration: Streamsheets integrate into your infrastructure like any other services
- Management and operational control.
- Premium charts with multiple and diverse chart types.
- Seize new opportunities and be the first to react to market and customer changes.
- Dynamic Dashboards and Visualization.
- Real-time Monitoring, Alerting, and Automation capabilities.
- Continuous Analysis and Processing of Data
- Adjust their marketing strategies.
- Optimize business operations.
- Modify product offerings to fit with the demand of the customer.
You only need to build the app once – without coding – and conveniently share data and information across your organization.
Companies that have been looking for solutions to the problem of streaming and aggregating real-time data, can effectively do so with Streamsheets. Eclipse Streamsheet’s open-source software already gives users the ability to collect, aggregate, and analyze data streams. Naturally, the open-source version comes at no cost to users.
You can get started with Eclipse Streamsheets here.