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The 11 Best Examples Of Real-Time Data Analytics

What Is Real-Time Data Analytics (And Why It’s So Important)?

We are now living in a world, where real-time data is becoming more and more important and we can see a lot of examples of it. What companies have realized is actually data has a shelf life, and the sooner we can use this data and turn this into insights the more it can be useful for our companies. Real-time data is about using and analyzing this data as soon as it becomes available.

The benefits of real-time data analysis mean that we can make faster and better business decisions, we can also create more intelligent and smarter products and services, things like recommendation engines and customizing our services, and we can improve and automate our business processes.

1. Detecting Bank Fraud

Real-time data analytics is already used by banks to detect potential fraud which considers as great examples of Real-time data. They will monitor how we’re using our cards the purchases we are usually making, the geographic locations when we’re making our purchases, and if something doesn’t look quite right the artificial intelligence algorithms will automatically detect that this is potential fraud and they can add another layer of security checks into this.

2. Website and Apps

Website and Apps are now using real-time data as straight examples of it. Their apps might monitor to see where you are at this point, and they can identify these micro-moments where they realize okay you are at an airport maybe this is the time to serve you with an ad for travel insurance. More of these micro-moments are enabled by analyzing, What we do on the internet? What we are searching for? What apps we’re using? When we’re using them to produce better services.

3. Automation

Real-time data also enables automation, things like self-driving cars or self-flying planes and ships that can autonomously cross the oceans wouldn’t be possible without real-time analytics. These systems use Camera data, Sensor data, Lidar data that is continuously evaluated and streamed and processed on the spot and without real-time analytics it would simply be impossible.

4. Automated Data Feeds

In order to use real-time analytics companies need to have automated data feeds, and so much data is now available from anywhere you can stream Satellite data, Web data, Social Media data but we need to make sure we’re feeding this data real-time into our systems and then we have the infrastructure in place to process it real-time. We need data feeds and systems in order to use real-time and analytics. The good news is, that a lot of this is now available as a service so even Small and Medium-sized companies that think maybe we don’t have the infrastructure in place to connect our systems to weather data and use it to analyze and predict customer behaviors. You can now go to companies like IBM and Microsoft and Amazon that will offer you real-time analytics capabilities, you simply rent a bit of server space they might already have automated data feeds from weather services and satellite data and so on available. You simply subscribe to it and start using it.

Automated Data Feeds | futureyan

Best Examples Of Real-Time Data Analytics

Using real-time data, Streaming the data and analyzing it in real time is becoming increasingly important in our world. Let’s look 11 Examples Of Real-Time Data Analytics.

1. Social Media Data

Companies like facebook and twitter are now using the data we are uploading, and the comments we are making in the posts, we are posting on our social media platforms and analyze them in real time. We’ve seen this in recent elections where twitter would identify posts that might not be factually correct or classed as fake news. Systems are now in place to detect fake news in real time where they use artificial intelligence to monitor what someone has said on the internet and compare this with the known facts of trusted websites.

We are also now using this on Facebook and Instagram to identify bullying because the certain language we are using can be automatically detected, and bullying can actually be auto automatically stopped using real-time data. As one of the best Examples of Real-time data is Social media data Because more than 70% population connects to the social world.

2. Data from Smart Devices

We’re using real-time data from our internet-connected devices, so IoT data. As our world becomes increasingly connected we now have watches and smartphones and other devices are connected to the internet, and these can continuously monitor us. My watch will continuously monitor my heart rate and it will automatically in real time analyze it and it will give me a warning if it detects that something is wrong with my heart rate, and this will only increase as we monitor more of our activities from our sleeping patterns to our physical activities.

3. Transaction Data

When companies monitor their transactions think about companies like HSBC, Big Banks, Visa, or Mastercard. What they’re now doing is they’re using real-time data to analyze whether a transaction looks real or not or whether this could be fought, and if they have lots of patents of how you normally spend your money, and suddenly you spend an unusual amount in a location where you don’t normally go they might have a loop in place where, they say okay we need to check with this person before we authorize payment this is all enabled by real-time analytics.

4. Server Logs as Examples Of Real-Time Data

Another examples is using our Server logs, so the way data is accessed and used in our businesses again real-time analysis will enable us to monitor what normal patterns are. If people normally access these customer data sets download, they to put them into a system this all looks nice and safe. Suddenly the computer spots okay there’s someone accessing an unusual system is trying to download lots of private information this looks like someone is hacking the system, and again real-time analytics allows us to shut these things down before any data is lost or any security concerns appear.

Real-Time Data | futureyan

5. Websites and Apps

Websites and Apps are now using real-time analytics. We have things like google maps that help us to navigate around they use real-time data to not only understand where you are but also real-time data from traffic, and weather information to understand where to best root you. But most apps are now using real-time data to help you have a better service experience.

Websites are now trying to understand what you have searched for before they use cookies to make real-time decisions about what information to give you, they understand what side you’ve come from, and therefore determine what sort of information you might be after so they can customize the service for you. Number’s of Real-time data is taken from the apps and websites as an examples, if you visit they take your behaviour as there data,

6. Sound Data as Examples Of Real-Time Data

Sound Data can now be analyzed in real-time, a company called Shotspotter now uses sound detectors to monitor the soundscape of a city, and they can autonomously identify gunshots. They use triangulation to now give police the ability to proactively respond to any gunshot in their neighborhood.

7. Satellite Data

Satellite data is really powerful real-time data that organizations can use not only to predict the weather but also to monitor other things like even the progress on building sites because satellite images can see how many new buildings have been created and they can monitor progress in real-time and even compare this to their competitors. This is a consideration of the Greatest Examples of Real-time data.

8. Autonomous System

Autonomous Systems use real-time data. If you think about Cars, Ships, Planes, Drones all of these are now able to autonomously move by themselves without human interaction, and they need to use the real-time data from cameras and sensors and process them in real-time in order to make decisions.

9. Smarter Services

We’ll have smarter services companies like Netflix, for example, we’ll use this data to understand, what we’re looking for when we stop watching. They also use real-time data things like the time of the day or even the day of the week, and will then customize the recommendations they make, because they realize that we might watch different programs and tv shows at the weekend compared to a weekday and we might watch different things in the morning compared to the evening. This makes their services more intelligent and better.

Best Examples Of Real-Time Data Analytics | futureyan

10. Security as Examples Of Real-Time Data

Security is another big use case for real-time data analytics and a great examples. In some of the countries they’re now using real-time analytics, they’re using cameras in their forecourts of their filling stations and gas stations to detect whether someone might be smoking, because this is dangerous these cameras will automatically analyze these pictures in real time detect that someone is smoking, and then can automatically send out a message over the Tanai saying please make sure you don’t smoke near near flammable liquids.

11. Predictive Maintenance

Predictive Maintenance is another big use case for real-time analytics, where we now basically remotely monitor our equipment to see if it is breaking down so we now have connected cars that can be remotely monitored. But everything from lifts to escalators to industrial machines can now be monitored, and if we understand how they are being used in real-time we can also predict when they might be breaking down, and we can fix things before this actually ever happens. With this, we came to the end of The 11 Best Examples Of Real-Time Data Analytics.

F&Q of Examples Of Real-Time Data Analytics;

Q1. What is considered real time data?

We are now living in a world, where real-time data is becoming more and more important and we can see a lot of examples of it. What companies have realized is actually data has a shelf life, and the sooner we can use this data and turn this into insights the more it can be useful for our companies. Real-time data is about using and analyzing this data as soon as it becomes available.

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