Business agility is the major benefit of using Real-time Analytics. The less time to process data between the time it arrives, the faster a business can make changes and act on critical decisions for business continuity in the future.
For example, it can be used for monitoring and analyzing data from a manufacturing line. It would help early intervention before machinery malfunctions. Then, companies can avoid the losses caused by machinery malfunctions in advance.
In this case, Real-time Analytics solution is designed for businesses that come from every sector, such as government, financial or banking, manufacture, energy, and more. Basically, this solution is best for all sectors because it produces accurate prediction that is matter for all businesses.
Benefits of Real-time Analytics and Its Use Cases
Here are some example of benefits of Real-time Analytics and sectors that can benefit from Real-time Analytics:
- Managing location data: Collecting relevant data sets from a geographic location to understand about what should be updated for optimal location intelligence.
- Detecting anomalies: Identifying anomalies on the systems caused by security breaches both from internal or external parties, and technical error.
- Creating better marketing strategies: Determining a strategy based on customer behavior in order to increase the effectiveness of advertising and marketing campaigns. The outputs will also help companies to determine a better pricing strategy and audience targeting.
Does PhinCon offer Real-time Analytics solutions?
Together with Tibco, PhinCon provides Real-time Analytics solutions. This technology offers the capability of data analysis in a short span of time since the data is generated by systems.
To get further information about Real-time Analytics solutions, kindly check this article: https://phincon.com/2021/05/02/real-time-analytics-and-its-benefits/
Ultimately, those that can benefit from real-time analytics is all sectors, because one of the biggest benefits of using Real-time Data Analytics for businesses is the ability to take decisions in a timely manner. Through its accurate insights, we can remove, update and introduce new business ideas and processes to entire organization with little risk as it lets you make data-driven decisions.
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