Data is growing at a faster rate than ever before. By 2020, every person online will create roughly 1.7 megabytes of new data every second of every day, and that’s on top of the 44 zettabytes (or 44 trillion gigabytes) of data that will exist in the digital universe by that time.
Given this ever-increasing amount of available data — and the fact that most of it is live in the moment — the benefits of big data will be lost if the information isn’t processed quickly enough. Here’s where the concept of “fast data” steps up to the plate.
Processing data at these breakneck speeds requires two technologies: a system that can handle developments as quickly as they appear and a data warehouse capable of working through each item once it arrives. These velocity-oriented databases can support real-time analytics and complex decision-making in real time, while processing a relentless incoming data feed.
As complicated as this system seems, it’s an absolute must for anyone looking to compete, particularly in the enterprise space.