The rapid pace of innovation, be it technology or business, has left no breathing room for the ones caught in the fray. Everything needs to be done fast and for those who are late, there is no second chance.
For companies, Business Intelligence (BI) has become vitally important as it provides them actionable insights for improvement in their process. Also, with Big Data getting a boost due to the proliferation of IoT devices, the need for analytics is at an all-time high.
The Rising Need for Faster Processing and In-Memory Solutions
Running analytics on large amount of data requires tremendous computing horse power. Employing traditional computers for getting this work done decelerates the conversion process and slows down the production of insights. Therefore, there is a growing demand for faster computers that can get the job done in a jiffy. To meet this requirement, in memory milliseconds transaction solutions have become extremely important.
In-Memory Processing vs. Traditional Processing
Unlike traditional computing methods that utilize Hard Disk Drives (HDD) for storing data, an in-memory solution makes use of Random Access Memory (RAM). This makes a world of difference in processing performance, which is evident from the comparison below:
When data stored on an HDD needs to be accessed randomly, you can read/write it at a rate 100 bytes/second. On the other hand, an in-memory solution can do a random read/write at 100 MB/second. The speed is much faster when the data needs to be fetched sequentially. For sequential fetching, RAM-based processing can do read/write at a rate of 1 GBPS. The extreme speed of in-memory processing makes it perfect for today’s evolving business requirements.
Why You Should Choose a Partner for Faster Processing?
The mind-boggling speed of in-memory solutions helps in accomplishing Big Data computing and other process-intensive tasks faster than ever before. However, not all companies have the finances to set up such an expensive on-premise infrastructure. The cost of high-performance system is high and specialist DBAs are hard to find. Moreover, if you have recently started using BI tools for insights, then you won’t be able to estimate the future requirements. Setting up an on-premise in-memory platform could be quite risky. You might end up with less powerful systems that may require upgrade or in-worst case scenarios a complete overhaul, sometime in the future. Therefore, choosing a partner for faster processing solutions, especially in the initial stage makes good business sense.
Importance of Millisecond Transaction Processing in Financial and Telecom Sector
Whether it is finance or telecom, the number of transactions between customers and companies has increased dramatically in the recent past. The success of business-critical activities like billing and accounting directly hinges upon the accuracy and speed of the transaction processing system. Therefore, if you are part of anyone of the two industries, you need a millisecond transaction processing system that can deliver as per the requirements of your business.
Nowadays, fast computing has become an essential requirement for pertinent business tasks like accounting and billing. Traditional computer systems with HDD as data store can no longer be used for all business use cases. In memory milliseconds transaction solutions are part of the new requirement, especially if you are trying to maximize BI benefits. Also, millisecond transaction processing can be used for quicker processing of transactions and billing in telecom and financial sector.