need some help on paradigm thinking about real time data!
I have been doing some thinking about what real time means and I hope that this blog explains some thoughts.
In the old world of data we collected lots of data and put in all into big databases and stored it. We then wrote cleaver algorithms to run over the data as analysis which gave insights such as context, feedback, fraud, behaviour and personalisation.
In my world I describe this as my rear view mirror. We collected data that we had just seen and then provided feedback on what had just happened.
More recently we have dropped the store bit and instead use the real-time data feed to bring about immediate input what we are looking at based on sentiment, signals and intent.
In my world I describe this as my head up display. We collected data that we had just seen (in the rear view now as passed it) but provide insights on what is happening.
The next point is a bit of a mind shift as it requires real time that is not generated by me, but could impact me. (Sensor data) In case think about the car analogy used above but in this case imagine you are looking out of the front window screen but the data is now saying slow down as a car will hit you from the right if you don’t. This is real time about to occur based on analysis and will influence you.
So help. who is working in this, what is a good way to describe this and what is already written about it?
Thanks in advance.