Introduction to Stream Analytics
Stream Analytics is the technique of processing and analyzing real-time data records using continuous queries, called event streams.
These streams are triggered when a specific event occurs as a result of an action or a series of actions, such as Equipment Failure, Financial Transactions, Website Clicks, or any other measurable event.
Organizations can extract business value from real-time data using Stream Analytics platforms in the similar way that traditional analytics tools do with data at rest.
Stream Analytics works well with data sources that deliver data in small volumes (usually in kilobytes) in a continuous stream as the data is generated.
This kind of analytics is primarily concerned with data flows that do not require complex analytical activities. Its main objective is to provide users with up-to-date information and to retain data in its current state.
Some of the popular Stream Analytics platforms include Azure Stream Analytics, Google Cloud Stream Analytics, Oracle Stream Analytics, IBM Stream Analytics, and many others.
Key Benefits of Stream Analytics
Stream Analytics enables businesses to make data more structured, usable, and accessible from the time it is generated.
There are numerous benefits of Stream Analytics. Some of the key benefits include:
Competitive Advantage
Streaming data may assist organizations in identifying patterns and setting benchmarks more rapidly, thus providing them a competitive advantage.
This way, they will be able to outrun their competitors who are still utilizing Batch Analysis, a slower and inefficient procedure.
Reducing Preventable Losses
With the help of Streaming Analytics, Security Breaches, Manufacturing Difficulties, Customer Churn Rate, Stock Exchange Meltdowns, and Social Media Disasters may all be avoided or at least reduced.
Continuous Monitoring
Organizations can monitor their key performance indicators (KPIs) daily by keeping an eye on their essential business data.
Streaming data can be monitored in real-time, allowing businesses to know exactly what is going on at any given time.
Predictability
Predictability is provided by streaming data technology, which aids in cost reduction, solving issues, and increasing sales.
This led to the emergence of new business models, product innovations, and revenue sources.
Business Insights
Stream Analytics gives businesses the ability to ingest and analyze real-time data to obtain immediate insights.
For example, in Cybersecurity, it may be used to automate threat detection and improve real-time monitoring of all your devices seamlessly.
Use Cases of Stream Analytics
Stream Analytics enables businesses to examine data in real-time and generates insights into a variety of activities, such as Server Activity, Device Geolocation, Website Clicks, and many others.
Some of the popular use cases for Stream Analytics include:
E-Commerce
Stream Analytics helps businesses in analyzing user clickstreams for Real-Time Pricing, Promotions, and Inventory Management.
This ultimately leads to an improved shopping experience.
Investment Services
Stream Analytics helps Investment Services to track market changes and adjust customer portfolios based on specified constraints, such as selling when a particular stock value is achieved.
Financial Services
Stream Analytics helps Financial Services to analyze and detect unusual patterns in account activity-based data streams. If anything goes wrong, a security alert can be sent as a response.
News Media
Stream Analytics helps analyze user click records from a wide range of News-based data sources and combine them with demographic data to offer better content that is relevant to the target audience.
Top 3 Stream Analytics Platforms
Some of the popular Stream Analytics platforms include:
Azure Stream Analytics
Azure Stream Analytics is one of the most capable Streaming Analytics platforms. It combines the power of SQL, C#, and JavaScript with built-in Machine Learning capabilities to allow businesses to analyze multi-stream data concurrently and effectively.
Oracle Stream Analytics
Oracle Stream Analytics is a Cloud-Based platform that provides ingestion, processing, and visualization of data in one place.
The platform is based on Apache Spark and is thus interoperable with other Apache technologies as well.
IBM Stream Analytics
With IBM Streaming Analytics, you can create real-time analytics apps. Streams can be deployed either On-Premise or in the Cloud using the IBM Cloud.
Moreover, Kafka is also supported by IBM as a messaging and data ingestion system.
Conclusion
This article gave a brief overview of Stream Analytics along with their key benefits and use cases. You also got to know about the popular Stream Analytics platforms in the market.
Hevo is one such ETL tool that allows you to stream data from 100+ data sources and is the ideal choice for data streaming.
It also helps you directly transfer data from Data Warehouse, Business Intelligence tools, or any other desired destination in a fully automated and secure manner without having to write any code and will provide you with a hassle-free experience.
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