June 18, 2024

Cliff Hillestad

Innovative Tech Solutions

Real Time Data Processing- What It Is, Pros & Cons, And Few Examples

3 min read

Introduction

Real time data processing is a term that’s been used in various contexts over the last few years. But what does it really mean? And why should you care about real time data processing? This blog post will help you understand the basics of real time data processing, including its benefits, drawbacks and examples.

What Is Real Time Data Processing?

Real time data processing is a subset of big data and analytics. It is the process of analyzing and acting upon data in real-time, as soon as it has been captured by an application or device. The goal is to make decisions based on this information before it becomes stale or outdated (or even irrelevant).

Real time Data Processing can be used for various purposes including:

  • Monitoring – Real time monitoring allows business owners/managers to keep track of their operations at all times, giving them insights into what’s happening now so they can respond quickly when needed. For example, if there’s an issue with one of your machines because the temperature has risen too high or low then you will know about it right away instead of waiting until tomorrow morning when someone comes into work who isn’t familiar with how things run around here anymore because they’ve been gone all weekend!

Pros And Cons Of Real Time Data Processing

Pros:

  • Real-time data processing allows you to use your data in more ways than ever before. This can range from fraud detection and real-time pricing, to using the information on a website’s homepage to determine which of your products will be most likely to sell based on what is popular that day. The possibilities are endless!
  • Real-time processing makes it easier for businesses to respond quickly when something goes wrong or an opportunity arises. For example, if there’s an unexpected surge in demand for one of your products–like say if there’s a big sporting event happening tonight–you could automatically adjust how many units get shipped out so that everyone who wants one gets theirs before they run out completely (and we all know how annoying it would be if those things sold out).

Examples Of Real Time Data Processing

Real time data processing is used in various industries, such as retail, finance and healthcare. Real time data processing also plays a major role in manufacturing and transportation sectors of an organization. The government sector also uses real-time applications to monitor activities of citizens and businesses alike.

For example: The use cases for real-time analytics include fraud detection (e.g., detecting fraudulent credit card transactions), customer service management (e.g., identifying customers who need help), supply chain management (e.g., monitoring inventory levels), social media monitoring (e.g., tracking conversations about your brand online) etc..

Real time data processing is one of the next big things in Big Data and Analytics.

Real time data processing is one of the next big things in Big Data and Analytics. This new technology is not just about real time analytics, but also involves a whole different way of dealing with huge volumes of data that are generated at high velocity and variety.

Real time data processing has been compared to traditional batch processing as it deals with large amounts of information stored on disk or memory (RAM), but unlike batch processing which uses complex algorithms for analysis, real time systems take advantage of advanced software architectures that allow them to respond immediately after receiving input from sources such as sensors or other applications through APIs (application programming interfaces).

Conclusion

Real time data processing is one of the next big things in Big Data and Analytics. It’s a technique that allows you to process data as it comes in, without having to store it first on disk or in memory. This allows you to get information from various sources such as social media feeds or IoT devices into your analytics platform faster than ever before!