Real-time data analytics is a tool that prompts enterprises to take action as quickly as possible. Earlier, systems weren't equipped to produce such timely results, but now with advanced technology, real-time analytics has grown and is widely adopted across industries. In this context, here is a look at five significant benefits of real-time data analytics and how enterprises reap them to their advantage.
1) Improved Decision-Making for Your Enterprise
It's simple - you can't take a business action without the relevant information. With real-time data analytics, you have the relevant information in your hand at the pace of your business. You have the power of data - you get to decide if or when to act on it. Furthermore, accessible real-time analytics can be beneficial for different units of enterprises that collaborate from separate locations.
2) Optimizing Business Towards Goals
Faster decision-making skills don't always translate to agility in business. Enterprises need to identify their overall business goals and ensure that each decision they take contributes to the set goals. Sure, information helps, but what completes the trajectory is knowing when and how to act on the information.
3) Rapid detection and Addressing of Issues
Data from IoT devices and the resultant real-time analytics can show potential issues in workflows. This type of detection is highly beneficial as relevant personnel can spot problems before they spiral out of control and address them according to guidelines. Hence, improved monitoring is also a direct benefit of real-time data analytics.
4) Reaction to Sudden Market Fluctuations
For businesses that are dependent on sudden market fluctuations, real-time data analytics is not just a boon but also a way of ensuring survival. With most companies gone online, these rapid changes are felt in many industries. So, enterprises need actionable data to help them make the right decisions at the right time.
5) Improve Overall Customer Experience
Real-time data analytics give businesses better insights into customer behavior. Recently, many online businesses have changed their strategies from blanket audience targeting to personalized or customized strategies - real-time data has a significant role to play here. The customers feel more at ease and often appreciate the extra effort businesses take to ensure smoother experiences. Furthermore, such positive experiences will encourage them to be return customers or recommend the product/service to people they know.
VEXXHOST Cloud Solution for Real-Time Data Analytics
Companies employing real-time data analytics systems use public, private, or hybrid clouds to deploy them. At VEXXHOST, we specialize in all three of those solutions. Our cloud services are based on OpenStack, making the environments free from licensing fees or vendor lock-ins. For many of our clients, private clouds are the preferred choice because of their highly scalable and secure nature.
Speaking of private clouds, you can now run on a fully agile and customized cloud from VEXXHOST, with no licensing fees and smooth 2-week migration. In fact, we're ready to put our money where our mouth is. We're so confident in being able to save you at least 20% or more on your current cloud infrastructure expenditure that if proven wrong- we'll give you $1,000 credit to our public cloud.
Excited? Find out more.