{"id":12226,"date":"2023-06-02T07:00:00","date_gmt":"2023-06-02T15:00:00","guid":{"rendered":"https:\/\/formtek.com\/blog\/?p=12226"},"modified":"2022-08-22T08:59:35","modified_gmt":"2022-08-22T16:59:35","slug":"real-time-data-analytics-faster-better-informed-business-decisions","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/real-time-data-analytics-faster-better-informed-business-decisions\/","title":{"rendered":"Real-Time Data Analytics: Faster Better-Informed Business Decisions"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">If businesses in the US took advantage of real-time analytics, the economy could see a $2.3 trillion boost, <a href=\"https:\/\/www.businesswire.com\/news\/home\/20220822005487\/en\/U.S.-Businesses-Could-Gain-2.3-Trillion-in-Total-Revenue-Uplift-with-Real-time-Data-Analytics\" data-type=\"URL\" data-id=\"https:\/\/www.businesswire.com\/news\/home\/20220822005487\/en\/U.S.-Businesses-Could-Gain-2.3-Trillion-in-Total-Revenue-Uplift-with-Real-time-Data-Analytics\">according to a report by KX<\/a>, a data analytics company.  Of that sum, the manufacturing industry could benefit from a $1 trillion bump, and finance and insurance companies could see an increase of $637 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.gartner.com\/en\/information-technology\/glossary\/real-time-analytics\" data-type=\"URL\" data-id=\"https:\/\/www.gartner.com\/en\/information-technology\/glossary\/real-time-analytics\">Gartner defines real-time data analytics<\/a> as &#8220;the discipline that applies logic and mathematics to data to provide insights for making better decisions quickly.&#8221; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">What does real-time data analytics bring to companies that could account for such a huge benefit?<br>Real-time analytics can help businesses achieve the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Better Business Efficiencies &#8211; information and actionable insights are delivered faster.<\/li><li>Better Tracking of Customers &#8211; understand the needs of customers<\/li><li>Data Visualization &#8211; see and interact with accurate real-time visualizations of business data<\/li><li>Identify Business Strengths and Weaknesses &#8211; provide insights into areas of the business doing well and areas that need improvement<\/li><li>Identify Fraud and Crimes &#8211; flags suspicious activities<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.linkedin.com\/in\/kathleenaschneider\/\" data-type=\"URL\" data-id=\"https:\/\/www.linkedin.com\/in\/kathleenaschneider\/\">Kathy Schneider<\/a>, Chief Marketing Officer at KX, <a href=\"https:\/\/www.businesswire.com\/news\/home\/20220822005487\/en\/U.S.-Businesses-Could-Gain-2.3-Trillion-in-Total-Revenue-Uplift-with-Real-time-Data-Analytics\" data-type=\"URL\" data-id=\"https:\/\/www.businesswire.com\/news\/home\/20220822005487\/en\/U.S.-Businesses-Could-Gain-2.3-Trillion-in-Total-Revenue-Uplift-with-Real-time-Data-Analytics\">said that<\/a> &#8220;to truly thrive in the new data frontier, business leaders across every sector must be able to utilize real-time data with the context of historical data to make faster, better-informed business decisions. 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Google Reader)\" title=\"Google Buzz (aka. Google Reader)\" \/><\/a><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>If businesses in the US took advantage of real-time analytics, the economy could see a $2.3 trillion boost, according to a report by KX, a data analytics company. Of that sum, the manufacturing industry could benefit from a $1 trillion<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/formtek.com\/blog\/real-time-data-analytics-faster-better-informed-business-decisions\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72,58],"tags":[],"class_list":["post-12226","post","type-post","status-publish","format-standard","hentry","category-analytics","category-data-analytics"],"_links":{"self":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/12226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/comments?post=12226"}],"version-history":[{"count":1,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/12226\/revisions"}],"predecessor-version":[{"id":12227,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/12226\/revisions\/12227"}],"wp:attachment":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/media?parent=12226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/categories?post=12226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/tags?post=12226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}