IDG Contributor Network: Real-time analytics is reinventing finance – adapt or face extinction

A brief look at real-time analytics

Before we dive deeper, let’s discuss what true real-time analytics is. You may assume that your data is updating in real-time, and may even be using a nifty visualization, but that doesn’t mean your analytics is real-time.

See, many finance organizations use Hadoop or parts of the Hadoop ecosystem, like HBase, Spark and others. These are great at processing big data affordably, by using batch processing (in which it processes all data at once, in a batch.) However, it wasn’t designed for analytics. Even though it has been retrofitted, running actual complex analytics on Hadoop is typically slow and cumbersome – a far cry from the near real-time requirements of modern finance.

To read this article in full or to leave a comment, please click here

A brief look at real-time analytics

Before we dive deeper, let's discuss what true real-time analytics is. You may assume that your data is updating in real-time, and may even be using a nifty visualization, but that doesn't mean your analytics is real-time.

See, many finance organizations use Hadoop or parts of the Hadoop ecosystem, like HBase, Spark and others. These are great at processing big data affordably, by using batch processing (in which it processes all data at once, in a batch.) However, it wasn’t designed for analytics. Even though it has been retrofitted, running actual complex analytics on Hadoop is typically slow and cumbersome - a far cry from the near real-time requirements of modern finance.

To read this article in full or to leave a comment, please click here