DataFramed #260 Harnessing the Power of Now With Real-Time Analytics with Zuzanna Stamirowska & Hélène Stanway
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Nov 13, 2024 Zuzanna Stamirowska, CEO of Pathway.com and expert in real-time data processing, teams up with Hélène Stanway, independent advisor in digital transformation. They dive into the transformative potential of real-time analytics across industries like insurance and finance. The discussion centers on the critical role of immediate data processing in enhancing decision-making and operational efficiency. They also address the challenges of implementation, emphasizing collaboration between business units and the integration of AI to optimize performance and drive impactful results.
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Real-Time Defined
- Real-time analytics latency requirements vary by industry, from milliseconds for critical systems to sub-seconds for operational decisions.
- Even seconds can be considered "real-time" if faster than traditional data analysis turnaround.
Bakery HVAC Failure
- Hélène Stanway shared a bakery example where real-time data revealed a failing HVAC system.
- Ignoring the data led to a larger, more costly replacement, demonstrating the importance of acting on real-time insights.
Business Unit Involvement
- Involve business units heavily in real-time analytics projects, as the need originates from their use cases.
- Align technology choices with latency and functional requirements to ensure effective solutions.