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Elevating Decision-Making with Real-Time Data Solutions
Elevating Decision-Making with Real-Time Data Solutions: A Deep Dive into the Power of Instantaneous Insights
In today’s rapidly evolving, data-driven landscape, the ability to harness the power of real-time data streaming has become increasingly essential for organizations seeking a competitive edge. Real-time data streaming revolves around the continuous capture, processing, and analysis of data as it is generated, paving the way for instantaneous insights and actions informed by the most recent information available.
Let’s take a look at what real-time streaming is, how it helps, and how to implement it with a real-life use case to examine the effects of real-time data on today’s businesses.
What is Real-time Data Streaming?
Real-time data streaming involves collecting and ingesting a sequence of data from various data sources and processing that data in real time to extract meaning and insight. This provides accurate and timely data at a constant rate, without requiring long wait times or regular data engineering work.
Why use it? The implementation of real-time data streaming creates a myriad of advantages, including:
- Enhanced Decision-Making: By leveraging real-time data streaming, organizations can base their decisions on the most current information, rather than relying on batch-processed data that may be outdated. This empowers them to swiftly respond to fluctuating conditions and seize new opportunities.
- Heightened Efficiency: Real-time data streaming enables the automation of processes and the near-instantaneous detection of patterns and anomalies by constantly ingesting, updating and delivering data as it arrives, creating an automated up-to-date flow.
- Superior Customer Engagement: Real-time data streaming facilitates personalized customer experiences and heightened engagement through targeted marketing efforts that are fueled by real-time intelligence, real-time customer service, and other strategies that can lead to increased customer loyalty and revenue growth.
- Strengthened Security: Real-time data streaming can be used for security monitoring, allowing for early detection of potential threats and the prompt initiation of appropriate responses.
- Improved Scalability and Fault Tolerance: By distributing real-time data streaming across multiple systems, organizations can enjoy enhanced scalability and fault tolerance.
- Optimized Resource Usage: Real-time data streaming allows for more efficient use of resources, such as storage and computing power, ultimately reducing costs by accelerating data processing, minimizing manual resource usage and redundant data storage
Now let’s take a look at real-time data streaming in action.
Implementing Real-time Data in Real Life
Let’s examine a real-life case study where real-time streaming accelerated data delivery by 85%: Kargo’s implementation of Nexla.
Kargo’s leadership in the mobile advertising space is established on high quality and broad partnerships, exquisite design, and ultimately its excellence in connecting the right ads to the right audience.
After a campaign is launched, the campaign performance data is monitored and analyzed to inform adjustments to the campaign. During the short time window of a live campaign, how fast the performance data is captured and turned into actionable insights directly impact the effectiveness of campaign management..
Out-of-sync data delivery is extremely detrimental to campaign success, leading to strain on the data teams and data users, as well as the risk of a high customer churn rate. As Kargo continued to expand its business, timely data delivery became difficult to guarantee. Customer satisfaction and even partnerships could be put at risk as a result.
Kargo’s data team went looking for a way to use their existing resources better while speeding up data delivery, and they discovered Nexla. Now, instead of submitting a ticket to the engineering team and waiting in the queue for months, the campaign managers have access to all the data they need through Nexla’s platform. Nexla’s universal connector architecture allows the data users to build and configure pipelines to connect to any sources, whether it is a mobile platform or an editorial site. Using Nexla, Kargo saw a significant decrease in data delivery time, which shortened the decision-making timeline and optimized campaign performance.
The ETL process was set to run automatically and monitored by Nexla’s intelligent monitoring system, circumventing lines of code and back-and-forth communication with the engineering team. The increased ROI prevented the churning of customers due to improved customer satisfaction, addressing the original pain point.
The speed at which you can deliver and access data is essential for making accurate business decisions. Simply collecting or storing data is not enough when markets are moving faster than your data can keep up. Real-time data streaming is the only viable solution to modern business growth.
Through the continuous capture, processing, and analysis of data, companies such as Kargo are getting more value from their data and making better-informed business decisions. If you’re ready to accelerate your data and your time-to-value, get a demo or book your free data solution consultation today and learn how much more your data can do when everyone has access to the data they need.
For more on data, check out the other articles on Nexla’s blog.
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