Streaming Data

As Lisa Vaas points out in an eWeek.com article about StreamBase 2.0, "Real-time data analytics is drawing increasing attention," and especially in the financial services sector. Real-time data analysis allows not only incoming data streams but also real-time analyses: all without the need for databases. The it department would need to rethink its entire approach to information systems and database management. Databases could be devoted to data that is conducive to long-term storage and subject to increased data security measures, while real-time data analysis enables maximum profitability. StreamBase 2.0 and similar products free up valuable database storage and minimize the costs associated with database maintenance.

The benefits of real-time financial data analysis would therefore far outweigh the costs. Restructuring and redesigning the organizations it department would be beneficial in other ways: forcing the introduction of new products, ideas, and processes. At the same time, increased revenues from the more robust data analysis system would more than make up for whatever costs were associated with implementing the new application. As with any new idea, costs associated with the adaptation of a new application would be incurred mainly at the beginning as it personnel would need to be trained for using the StreamBase.

Security might be one of the main problems associated with StreamBase. Would the streaming data be encrypted or otherwise protected from malicious users? The organization adapting to StreamBase would need to be sure that the analyses were not vulnerable to security breaches. Finally, just as with streaming multimedia content, streaming data and data analysis might be problematic and prone to caching problems. Possible glitches may be due to server speeds, client PC speeds, and the speed of data transmission. If the organization relied on its own intranet and had a backup system for streaming, then it might be possible to mitigate any problems associated with real-time financial data analysis.

Vaas, Lisa. "StreamBase 2.0 Targets Financials." eWeek. June 17, 2005. Retrieved Oct 18, 2008 at http://www.eweek.com/c/a/Database/StreamBase-20-Targets-Financials/1