Why a Business Needs a Data Stream Management System

A data stream management system can help a business run more effectively and efficiently. This will increase customer loyalty, improve processes, help with decision-making, and ultimately assist in business expansion. In this article, we will explain what makes all of this possible.

The Importance of Streaming Data Architecture

Streaming data architecture can be described as the design of the process in which the data is to be managed, processed, and streamed in real-time. Ultimately,  data streaming management systems that have well-designed architecture are able to easily handle data that is continually changing and flowing. This is what allows for this data to be processed and analysed immediately. This architecture consists of a variety of components that all need to work together perfectly. Some of these components include; ingestation, processing, storage, and visualisation.

The Advantages of Real-Time Data Streams

If you have a data stream management system that has been built and designed correctly, it can offer a business a host of advantages that will allow a business to flourish in multiple ways. Some of the advantages one can expect from a comprehensive data stream management system include:

  • Accelerated Access to Insights: As these management systems allow one to access information in real-time, you will be able to analyse insights as they occur. Therefore as a business, decisions can be made faster and one can act proactively instead of performing a delayed reaction to an event. This allows a business to stay one step ahead of its competitors. It also allows one to identify problems and deal with them immediately, before they become a larger issue.
  • Increased Accuracy: As the data and insights received is not stale, it is more accurate. Therefore, the picture painted is more complete, which allows for a more complete understanding of what is occurring.
  • Informed Decision-Making: Once you have accurate information that provides a complete view of what is occurring, one is able to make informed decisions. For example, if you have up-to-date information about how a process is functioning, it is easier to identify the problem areas and improve upon the process in order to achieve a higher level of efficiency and success.
  • Improved Customer Experience: A business relies on customer satisfaction in order to succeed. Accurate, real-time data will allow for a business to increase a customer’s experience by allowing for personalisation. With this technology, one will be able to send personalised messages and product recommendations. Customer issues will also be identified and resolved faster, which will increase loyalty.
  • Enhanced Operational Efficiency: With the help of a data stream management system one can even improve the efficiency of a business’s operations. For example, one can monitor one’s equipment easily and identify when maintenance needs to be done or replacements are required before the machine fails. Therefore one will not lose exorbitant amounts of operational time due to mechanical failure.
  • An Economical Option: Your business can save money! As one is able to stay ahead of the curve, preemptively identify issues, improve customer loyalty, and avoid exorbitant downtime, your business will prevent the unnecessary loss of money. It will also make it easier for a business to grow.

Qlik as a Data Stream Management System

The Qlik Data Integration Platform is a comprehensive data stream management system that is able to support your business in a variety of ways. From receiving up-to-date, real-time data and insights, to growing and managing your entire enterprise, Qlik has it all.

Contact B2IT to find out more about this data stream management system.