Real-time analytics offers businesses deep insights for better decision-making by instantaneously pulling and pushing data. Here are four ways real-time data is making a huge impact on the world around us, today…
High alert! Cybersecurity on full attack
The virtual world around us is evolving at a faster pace than industry leaders could have anticipated. One of the unprecedented consequences that come along is that defenses created and implemented to protect users and their data are not always as current as they need to be.
The best way to address concerns of data security is to prevent incidents before they even happen. One of the key offerings of real-time data is exactly that. Real-time data can be made actionable and allows you to not only detect but also protect your data in a more sustainable fashion.
Medical Care, but elevated
Technology has been a game changer to the healthcare field. Medical care professionals are more and more relying on data and technology to create the best medical-care outcomes.
In fact, some hospitals have even begun to use their findings from real-time data to determine the rate of deterioration for patients under the supervision of doctors faster than ever before (Dataconomy). In fact, real-time data is considered extremely important to medical professionals, as it offers a “continuous picture of a patient’s status, allowing them to make better decisions about treatments, discharge, and end-of-life care” (Dataconomy).
Move ever Henry Ford, Manufacturing in high gear!
COVID-19 has made an impact on our day-to-day routine in countless ways. Whether with regards to the automotive microchip shortage or part-related inquiries, the world undoubtably felt the impact of industry-disrupted supply chain issues. Real-time data cannot change the status of the global pandemic. Instead, it can help create a precedent for success following its aftermath.
The utilization of real-time data is able to help organizations anticipate and resolve manufacturing concerns before anything has even been disrupted, to the monetary and emotional benefit of their clients (Metal-AM). Developments in this area have already allowed users to, “show which machines use the most energy or identify process bottlenecks,” as well as, “lets users monitor machine performance remotely” (Metal-AM). Managers in manufacturing are at an all-time advantage like they’ve never had before.
Automotive Insurance built around you
Many individuals are noticeably frustrated and vocal whenever their car insurance bill arrives each month. One specific critique is that the rate does not always feel related to the quality of the driving of the person in question. Soon, that may be a concern of the past.
Unlike the traditional use of a very limiting set of criteria (gender, age, marital status, etc.), there is a new system that relies on the actions and behavior of their drivers, in real time (Informs). Many insurance companies have even considered making this an option for drivers, with the hope that they will drive more safely, cognizant of how their driving may impact their statement at the end of the month. In fact, a recent survey even found that, “real-time data made people generally safer drivers” and that “they reduced their hard braking events by 21% after six months” (Informs). While there undoubtably more research is still left to conduct, this is a positive step in the right direction that real-time data can make a huge impact for the benefit of all mankind.
Real-time data is a ‘real’ big deal
A common idiom is that “hindsight is 20–20.” With the help of real-time data, this may no longer be the case. Real-time data means that your data is more actionable. More actionable data allows you to become an individual — and an organization — that is data-driven. Data takes human errors out of the equation, and instead, replaces it with facts rooted in the findings and diligence of many data analysts and engineers around the world.
The demand for real-time data is here to stay!
The Systech Solutions, Inc. Blog Series is designed to showcase ongoing innovations in the data and analytics space. If you have any suggestions for an upcoming article, or would like to volunteer to be interviewed, please contact Olivia Klayman at firstname.lastname@example.org.
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