As the world moves towards a class of applications designed around the Internet of things (IOT), streaming analytics and new software architecture will become vital for entities to be able to use information to their advantage.
This is according to John Bates, Software AG's chief marketing officer, who was addressing its Innovation World 2014 conference yesterday morning. He said smarter devices can give companies a competitive advantage.
The ability to handle data on the fly and analyse it gives business visibility so they can optimise systems to save money, manage risk and fraud, get transparency over business systems, and seize real-time revenue opportunities, said Bates.
Clever ideas
Bates said at the core of the ability to do this is streaming analytics. He explained Software AG's Intelligent Business Operations (IBO) unit offers solutions that tap into data on the move, analyse this, and provide businesses with smart information they can use immediately to make decisions.
The world is also moving towards wearable apps and the ability to remotely control devices, which present companies with the challenge of handling many more data points, said Bates.
Bates noted the time companies have to analyse big data is decreasing, while the complexity of analysis is increasing. He said a new software architecture, which Software AG is focusing on, is arising.
In the next five years, the wearable revolution will start being overlaid with other data points. Bates said, for example, Google Glass will link in with Facebook feeds, and - by turning the device towards a coffee shop - people could be alerted to the fact that someone from their network is having coffee.
Need for speed
With social media's ability to deliver personalised behaviour across several mediums, companies are going to need the complexity to deliver, said Bates. He noted the biggest challenge will not be hardware, but the software architecture that can use this shift to deliver real value.
Software AG is working on these issues, with aspects such as in-memory tools, streaming analytics and real-time visualisation tools. The benefit to companies, if they understand how companies use equipment, is that they can do preventative maintenance or interventions to create additional capacity, explained Bates.
Mark Beliveau, VP of Software AG's IBO Tiger Team, adds before companies can intervene, they need to understand what the intervention gap is, and how to close this. This will vary depending on the situation, which will dictate how much time companies have to intervene.
* Nicola Mawson is in New Orleans courtesy of Software AG.
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