Real-time data and analytics. What are they and do we need them? This interesting topic came to us from Protocol in their article, “Do businesses really need real-time analytics? Data startups are counting on it.”
“Real-time analytics” refers to the process of preparing and measuring data as soon as it enters the database. In other words, users get insights or can draw conclusions immediately after the data enters their system.
Real-time analytics allows businesses to react without delay. They can seize opportunities or prevent problems before they happen.
In the world of business, there are a few key factors fueling the rise of real-time data processing and analytics more than artificial intelligence (AI) and machine learning. Companies want to use machine learning systems that improve as they’re exposed to fresh information in the hopes of making smarter decisions and optimizing existing efforts in milliseconds.
There is help. Data Harmony is a fully customizable suite of software products designed to maximize precise, efficient information management and retrieval. Our suite includes tools for taxonomy and thesaurus construction, machine aided indexing, database management, information retrieval and explainable AI.
Melody K. Smith
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