Streaming analytics, also referred to as event stream processing, is the real-time analysis of data in motion using continuous queries, or event streams. In the old days of request/response architecture, a complex event would require multiple steps, and computer systems would have to wait for each one to be completed. These days, there’s no time to wait for slow processes. Real-time data analysis is a must to ensure that your organization’s information is accurate and current. Insights based on data from yesterday aren’t nearly as useful as real-time insights, but as long as organizations continue to struggle with their digital transformations, they’ll be unable to use their data to its fullest potential.
An event stream can be set in motion by any measurable activity, such as a click on your website, IoT enabled machine sensors, or a financial transaction. With streaming analytics, you’ll be able to identify risks and opportunities as quickly as possible, and you’re much more likely to gain a competitive advantage. Of course, when looking for analytics providers, you’ll want to find a strong performer who makes deployment and scalability as easy as possible. Analytics customers who want the best should look to the Forrester Wave.
Forrester Wave Significance
The Forrester Wave is an analytics report compiled by Forrester Research. During Q2 of this year, The Forrester Wave: Streaming Analytics report identified the 14 most significant streaming analytics vendors, and TIBCO scored high marks as an industry leader, along with Google, Microsoft, SAS, and Oracle.
Forrester’s methodology relies on the participation of four crucial players to compile a report: an analyst, research associate (RA), vendor response team, and customer references. If a vendor chooses not to participate in a Forrester report, then Forrester continues based on their Incomplete Vendor Participation Policy. The full report is essentially meant as a guide to help customers choose between the best options on the technology marketplace.
Since they were classified as a world leader of data platforms, TIBCO is already ahead of the game compared to most competitors. They also received the highest possible score in development, enablement, and market awareness.
Development and scalability are the two most important criteria to excel in for the Forrester Wave, and one of TIBCO’s greatest strengths is that it provides visual, no-code development tools, so business intelligence leaders can get their systems running quickly, even if they aren’t software developers or data scientists.
Another great advantage they offer is their connectors between data sources. A master data management system basically aggregates all data into a single source, so you’ll no longer have to rely on disparate live data sources. With each data format unified, it’s easy to perform advanced analytics driven by machine learning to do anything from running an accurate competitive analysis to predicting customer behavior. You can also fully automate decision processes to free up business users for other tasks.
Additional Use Cases
TIBCO software doesn’t just identify complex patterns in data and then leave them up to a data scientist to interpret. With TIBCO Spotfire integrations, you’ll have some of the best data visualization technology available with your comprehensive real-time streaming data platform. Visual analytics can break down complex data gathered from all your data sources and present it in easy-to-understand charts, graphs, and geolocation visuals. This means that business leaders can gain at-a-glance insights into how the business is doing and easily relay the news to shareholders.
TIBCO also enables easy customization with a simple mod framework that lets you improve compatibility with your APIs or add new visuals from other libraries. As if all this wasn’t enough, you can even try Spotfire free for 30 days, so you can see exactly why TIBCO became one of the top analytics solutions in The Forrester Wave Report.