Real-time analytics
By Mike Thacker-Cooke
19th May 2017

Many companies across the word are using real-time analytics and big data to make better decisions, understand their customers and stay ahead of the competition. Real-time analytics allow a business to fully understand what is happening at the time of the event rather than after; it can give them better transparency so they can make faster decisions.

Real-time analytics are being used by multiple industries and are being applied in the real world. Take a look below for some ways real-time analytics are being applied.

Sport

Anyone that watches sport will be used to seeing real-time analytics in action (even if they don’t realise it). Real-time analytics are particularly prominent in racing. Whether that is motor, cycling or even marathons, real time analytics and times are available for the viewers to access, letting the viewer track the progress of their favourite athlete and giving them the ability to compare and predict winners. And this data is not just benefiting the viewers though it is also helping the teams and athletes to understand their progress.

Insurance premiums

Car insurance providers are starting to use real-time analytics to set their prices and decide on the premiums for each individual driver. By using tracking systems, the company can have access to the real-time analytics and can set prices and premiums based on each individual’s driving ability, rather than just their age and experience. 

Shopping experience

Online retailers can use real-time analytics to understand their customer’s journey and make sure the web experience is tailored and unique to them. By tracking how the customer is using the website while they are active, online retailers can customise certain experiences to that user. As well as this they can use this data and analytics to make personalised recommendations on future transactions.

These are just a few real applications of real-time analytics, and there are many more examples being used across the world. I’m excited to see the future and how real-time analytics can keep improving our lives.

How do you think real-time analytics impact you? Let me know your thoughts in the comments below!

KDR Recruitment is the home of the best Information Management and Data Analytics jobs. Are you concerned or excited about the future of tech? Have your say in our industry wide survey today!

This blog was originally published on LinkedIn. To read the original blog click here

Comments

Currently there are no comments. Be the first to post one!

Post Comment

*
*
*

Is Artificial Intelligence wasting our money?

If you are anything like me, you will have become addicted to online shopping. And like me your addiction might have led you to questioning if you are buying things unnecessarily. Asking yourself: Am I wasting my money? So, as... Read More

15 years on: How times have changed…

When I incorporated KDR 15 years ago this month I had a simple mission. I wanted to run the market leading agency in its field placing contract staff with experience of working with the emerging data warehouse tool Kalido. I... Read More

The life of a Business Administration apprentice!

I started my apprenticeship with KDR in the September of 2018, when I was searching for a job I never imagined that I would find a company quite like KDR, from the moment I first stepped through the door everyone... Read More

How can data analytics impact climate change?

Every quarter we produce an e-magazine on issues and topics within the data and analytics world. In our previous issues we have looked at the impact of blockchain , the future of the data warehouse and GDPR . In our next issue... Read More

Where should we send our newsletter?

Close