Real-time data tracking a boon in transforming operations

FUTURISTS predict that we will live in a world where things will never get lost. Thanks to real-time information relying on GPS, Bluetooth, RFID and the Internet, it is becoming easier to keep track of assets and people, and this increased visibility has been a boon for organisations.

In our day-to-day life, we are already reaping the fruits of such real-time visibility. Take Uber for example: the company is a pioneer that is extremely efficient in producing and analysing real-time traffic data, based on which it is able to quickly adjust to booking demands by placing more or fewer cars in an area. Similarly, the Google-owned navigation service Waze relies heavily on real-time, user-generated traffic data, such as accidents or traffic jams on the road, so they can give users the fastest possible route to their destinations.

In the past, businesses needed to wait until the end of each month to collect and count their receipts, a system called batch processing. Real-time processing has dramatically changed the way enterprises operate and significantly reduced the time it takes for decision makers to get access to operational data, analyse them, and make more informed and astute decisions. In other words, the processing and analysis can happen simultaneously, turning organisations into methodical machines that are agile in responding to market and operational needs. This real-time visibility allows enterprises to know where their inventory, people, and equipment are at any time, allowing them to make faster deliveries to customers and ensuring that the right amount of inventory is maintained where it is needed most.