Trying to find a specific piece of information in a mountain of Big Data can be like trying to find a needle in a haystack. For instance, companies in the financial sector often deal with millions of trade messages everyday. Trying to sift through all of them and pick out possible compliance issues with batch event processing is too timely and costly. Additionally, it may not even provide an organization with a complete picture. Streaming data can allow organizations to avoid the haystack altogether to process data at the moment it’s received. Unless IT departments want to sift through that haystack one strand at a time, they might want to rethink their big data strategy.
One-Stop Shop
Not too long ago, TIBCO welcomed StreamBase Systems to its family. Even more recently, StreamBase was ranked the best complex event processing solution provider by Waters magazine. This new addition is valuable in a number of ways; however, of top-ranked event processing tools, we see it is inherent that Big Data isn’t getting any smaller as companies scale and continue to expand on their mobility, social, and cloud ventures. Instead of trying to gather business intelligence after data has completed all of the steps and cycles to be processed, data should be managed from the point of ingestion.
Most of the time, businesses cannot afford to wait to develop strategies and make decisions while data is being held in a computational waiting station, dependent on system batch handling. That is, assuming the systems themselves can handle the data from the beginning. Streaming data allows analysts and decision makers the ability to react to contingencies that arise from events that take place in real time. Having instantaneous information enlarges the narrowed scope of possibilities that used to be available. As TIBCO VP and former StreamBase CEO Mark Palmer calls it, real-time solutions with the right infrastructure creates a “one-stop shop,” instead of a stop-and-wait sytem.
Simply the Best
Streambase’s top positioning in this space is only the tip of the event processing iceberg. Compliance and market surveillance has become increasingly more important, and a company that deals with millions of trade messages each day cannot rely on just any tool. As Gartner’s Paul Proctor puts it, there is a difference between rule followers and risk leaders when it comes to compliance:
“Rule followers focus on compliance as a way to avoid negative outcomes and risk leaders focus on ways to adapt to ever-changing risks and achieve positive outcomes. Followers are buried in regulatory distraction that impedes their ability to innovate, perform, optimize and adapt their programs. Followers are busy covering their butts. Leaders are able to map risk and security dependencies into desired business outcomes and report these risks into the appropriate decision makers.”
Organizations that are looking to become leaders need solutions comparable to their desired position. Compliance is not just about following the rules—it is very much part of business strategy and goal achievement. Streaming data is a big differentiation between following and leading.
For more information on the leading event processing solution and Streambase Systems’ ranking, click here.
