This white paper outlines the four key pillars of analytics speed that are essential to deliver transformational value with analytics: speed of development, speed of data processing, speed of deployment, and speed of response.
Data analysis projects to improve customer relationships, fraud detection, cyber-security, and a variety of other critical objectives are making a massive impact on the way modern companies do business. Understanding and predicting markets, trends, threats, and customer behavior dramatically can increase a company’s ability to acquire and retain customers, to create or stock the products or services that customers will buy, to avoid potentially devastating pitfalls, and to increase wallet share and profitability of key accounts. In order to implement these valuable analytics, companies are faced with a dizzying array of analytics choices, data storage and data processing tools, frameworks, and platforms. Knowing what really matters when selecting analytics technologies and how to put it all together can be daunting, to say the least.
Adding to the confusion is that every analytics tool on the market claims to be fast. While we agree that speed is an essential element of analytics power, possibly the most crucial element, it’s important to note that speed means different things to different people. This is why so many claims sound alike, “Our platform is the fastest,” and yet, they don’t result in fast business value. Each kind of speed is essential to analytics success in its own way; speed of development, speed of data processing, speed of deployment, and speed of response. Each type of speed is a strong pillar to build on, but all four are needed to build a genuinely transformational analytics infrastructure.
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