The benefits of using big data and advanced analytics to make better decisions are widely accepted. Making an informed choice is better than using intuition or continuing on your current path and hoping you are on the right one. The more data you have, the more analysis you can do, and the more accurate your assessment of your choices is. But timing matters.
Data never stops
Massive amounts of data are generated 24 hours/day, 7 days/week. IoT sensors alone send constant streams of information about equipment performance, transportation of goods, condition of raw materials, production delays, and more. The stream of information never stops from social media, weather reports, and market feeds as well.
If data is constantly updated, shouldn’t analytics be constantly updated as well?
Big data analytics takes the constant streams of data and turns that data into actionable insight. However, most analytics solutions provide insight on demand, sitting idle until queried. You still receive insight when you request it, but what happens when disruptive events occur when you aren’t looking at the data? How do you get a jump on market-changing events when you aren’t aware of them?
To stay ahead in fast-moving markets, you need analytics that are always collecting, blending, and analyzing data in the background, regardless of your current queries. When changes happen – supply chain disruptions, price shocks, unforeseen events that increase risk – always-on analytics will run and update reports using the new information. These proactive updates immediately alert users to potential problems and opportunities and enable fast, efficient, and effective responses.
Eka Analytics’ always-on intelligence engine automatically collects, blends, and analyzes data, 24 hours/day, 7 days/ week. When a change happens, the algorithms run. When events occur that fall outside of your predetermined guidelines, reports are generated. You are always updated and aware of changes that impact your business. Executive dashboards are updated to present the most current information so all decisions are made using up-to-date analyses, ensuring the best possible decisions are made.