The ability to analyze and act on data is gaining importance in any business organization. The changing demand of customers, generate the need to examine data quickly. With the increasing volumes and complexity of data, the requirement of analysis to conclude is increasing. In order to manage vast quantities of data and make decisions, the need to analyze data in real time has raised. Real-time analytics is the capability to use data and resources related to it in real time that is as soon as the data enters the system. By utilizing this method, the information is available to organizations almost immediately which enhances the running of an institution. Real-time analytics is also termed as dynamic analysis. In this process, some patterns are defined to provide meaning to business. The analysts of an enterprise collect valuable information by sorting through and analyzing that data.
Real-Time Analytics market: Drivers and Restraints
With the help of real-time analytics, an entity can quickly process and interpret data and have up-to-the-minute information about customers of an enterprise. This enables the company to take decisions rapidly thereby increasing the efficiency of an organization. Also, the changes made in any processing of an organization can immediately be reflected its employees. Such factors are increasing the adoption rate of the technology and thus drives the growth of real-time analytics market.
The implementation of real-time analytics changes the traditional working strategy of an organization since the time taken to receive information and updates changes from some days to mini seconds. Also, a lot of investments needs to be done to deploy this system in an organization. Such factors bring challenges in the adoption and growth of real-time analytics in the market.
Increase in use of real-time analytics in artificial intelligence and emerging technologies of the Internet of Things (IoT) are the significant trends in the market.
Real-Time Analytics market: Segmentation
Segmentation based on end-user of Real-Time Analytics in Market:
Media and Entertainment
Retail and Wholesale
Segmentation based on supporting technology of Real-Time Analytics in Market:
Processing in memory
Data warehouse appliances
Massively parallel programming
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Real-Time Analytics market: Competitive Landscape
The key players in the market are Microsoft Corporation, SAP SE, Oracle Corporation, IBM Corporation, Informatica Corporation, Amdocs Corporation, Infosys Limited, Google LLC, Impetus Technologies and MongoDB, Inc.