Dashboards have limitations with today’s streaming and real-time data flows. The data may be changing so frequently that it is hard to even see what is changing.
Analytic dashboards serve as important windows to enterprise performance and events, and no one argue their efficacy. However, as real-time data streams through enterprises, it may move too fast for dashboard environments.
That’s the word from Ventana Research analyst David Menninger, who points out in a recent analysis that real-time data streaming is overwhelming more static dashboards and dashboard environments. Ventana’s research shows almost one-quarter (22%) of participants conduct real-time analyses of their data. Another 10% are analyzing data at least hourly. “By 2024, one-half of organizations will incorporate streaming analytics into their business processes, enabling them to respond to opportunities and threats faster,” Menninger says.
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At this point, only 19% of organizations report they have completely adequate technologies for real-time analysis, while 38% are equipped for reports and 38% for dashboards. “Real-time analyses require a different approach,” Menninger explains. “Having someone sit around and watch a dashboard waiting for information to change is not a very effective way to monitor changes. The data may be changing so frequently that it is hard to even see what is changing. Even if someone were to identify and understand the changes, would they be able to determine the correct response before it was too late?”
There are two aspects to the challenges of real-time streaming data, he continues. Alerts and notifications are one aspect that dashboards deliver. However, for determining and implementing correct responses in real time may be better served with artificial intelligence and machine learning. “The implementation may be a recommendation on a customer service screen, it may be updating the inventory status on an eCommerce screen, it may be placing a replenishment order, or it may be a combination of several actions.”