Many businesses need the ability to aggregate and analyze complex business data in real time. This isn’t possible with traditional business intelligence solutions, which perform resource-intensive analysis and usually run in overnight batches. To overcome this limitation, several vendors have introduced real time BI, or real time OLAP solutions.
One example of real time BI implemented in a real life situation is online trading. Online traders need to monitor profit and loss performance, and follow fluctuations in the value of a portfolio of trades, in real time. This information is critical for understanding changes in client positions, in order to control potential credit, market, counterparty, or liquidity risk exposure.
Another industry that relies on real time data aggregation and analysis is the e-commerce industry. Online retailers and marketers need the ability to continuously monitor and identify traffic and online sales, with multiple dimensions of data changing in real time, and make automated adjustments to optimize revenues.
ActivePivot by Quartet FS is a real time BI solution that aggregates data from different sources, and runs complex analytics, to provide business metrics and key performance indicators. ActivePivot analyses drivers or components that affect the key metrics, at any level of granularity required for the business, and with the ability to run any query in less than a second.
The ActivePivot solution has been used in the market for the past five years by major enterprises, including ING, HSBC, and JP Morgan Chase. The system was originally built for the financial services industry, and it is now finding applications in new industries, such as e-commerce and logistics.
To try out ActivePivot’s real time BI solution, see our live demo.