In the past decade we have seen:
Real-time now means milliseconds, businesses demand moving from post event reconciliation to in-line data processing. Value of data diminishes rapidly. If action is not taken immediately, the opportunity to monetize an event is lost.
Traditional databases fall short in meeting these requirements; as Dr. Michael Stonebraker, founder of VoltDB, discovered during his research: almost 90% of the database’s allocated hardware resources were being used just to manage the DBMS instead of doing useful work. This research led to the H-store project which in turn led to the commercialization of VoltDB.
Real-time is the need of the hours. The “Store & Query” model is going to be, if not already, outdated in operational transactional data processing. Action oriented decision making while the data is fresh i.e. within milliseconds is the next key differentiator for data driven organizations. VoltDB’s most successful and steadfast customers invariably use VoltDB for processing streaming data as it arrives and make decisions in the moment to instantly monetize these events. For example:
To deliver on these real-time decisioning essentials, some organizations have tried the DIY approach, by cobbling together a multi-layered solution using disparate tools. Unfortunately, this approach only adds complexity and costs, while not delivering on the promise of a Smart, Fast, and Robust real-time platform. The DIY approach is fraught with problems, such as: