Big Data Sets New Standards In Stream Processing For Emerging Markets
Big data is causing major changes and creating new standards in stream processing for emerging markets. Here's what to know.
With today’s technology, there’s an increasing demand for stream processing. Data, for instance, has to be processed fast so that the companies can keep up to the changing business and market conditions in real time. This is where real-time stream processing enters the picture, and it may probably change everything you know about big data.
Read this article as we’ll tackle what big data and stream processing are. We’ll also deal with how big data stream processing can help new emerging markets in the world.
What is Big Data?
Big Data is defined as a large volume of structured and unstructured data that a business comes across their day-to-day operations. However, the amount of data isn’t really a big deal. What’s important is the way organizations handle this data for the benefit of their businesses. After all, big data are used to analyze and create insights to improve sales and apply better business strategies.
In order to better understand what big data is, let’s take a look at its three V’s:
- Velocity – The streaming of data takes place in unprecedented speed; that’s why it should be handled in a timely way. Using sensors, RFID tags and other tools can help deal with the flow of data in near real time.
- Volume – Companies gather data from different sources such as business transactions, social media, and other relevant data.
- Variety – It means all data can be presented in a variety of formats – from structured numeric data to the unstructured ones, which include text documents, audio, video, and email.
Moreover, the importance of big data doesn’t focus on the amount of data you can collect, but it’s more of what you can do about it for the benefit of your organization and the emerging markets around you. Ultimately, you can always gather data from numerous sources and analyze it for the following:
- Smart decision making
- Cost and time reductions
- Development of new products and optimization of offerings
What is Stream Processing?
Stream processing is a platform allowing organizations to enforce rules and procedures to examine and analyze real-time data. In other words, it enables your business to review the data in all stages, such as where it has been, in motion, and where it’s going.
Unlike the traditional method of indexing and processing of data, before it arrives at its destination, stream processing is the opposite since it collects data during the transfer and connects it to external sources for real-time applications.
A classic application of stream processing is the financial institutions where they can see fluctuations in the stock market in real time and balance again the portfolios based on computed and up-to-minute risk assessments. From this application, below are some benefits of stream processing:
- Provides a path for more data analysis
- Accelerates data delivery to give way to real-time analytics
- Works along with machine learning to get deeper insights for organizations
- Helps companies improve efficiency to reduce costs and increase output
How Can Big Data Stream Processing Help Emerging Markets?
Big data stream processing can allow businesses including some emerging markets to deal with a vast amount of information while it’s still in motion, as contrasted to waiting for the data to be stored in a data warehouse.
It’s also a method of constant processing that takes place when big data is streaming into the system. The latest technology can be used as a new source of data such as streaming data from social media like Twitter or steaming mobile data from the applications.
In addition, stream processing can also be used for analyzing big data or large quantities of data. Unlike batch streaming, it’s best when you need real-time data analytics since it takes care of the data processing while it’s moving, thereby providing analyzed results quickly using platforms like Apache Beam, Apache Spark, and many more. For instance, if you’re going to be streaming a video, particularly in Netflix, you may need useful streaming apps like a VPN for Netflix to stream video content properly and have a smooth watching experience.
Whether you want to be streaming data from the Internet, streaming videos or you want your business to accelerate time into innovation, big data stream processing can be beneficial. With proper tools and resources, companies and other emerging markets will see real-time data as a game changer in the industry they operate. They’ll probably want to have a fast data process to make sure they can move forward from imagination to innovation quickly, respond to problems faster, and develop a more effective business strategy.
As technology continues to evolve, it’s clear that businesses, as well as emerging markets today, shift toward getting real-time analytics and big data streams to obtain more actionable information in real time. Although outdated tools can’t match the speed involved in data analysis, these days’ streaming applications may be equipped to deal with some business’ problems.
If you think a non-stop stream of data can be helpful for your business, use this article to learn more about how big data stream processing is helping the emerging markets in the world.
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