Thinking About Real-Time Analytics

Martin Willcox offers some advice for people getting into the real-time analytics game:

  1. Clarify who will be making the decision – man, or machine? Humans have powers of discretion that machines sometimes lack, but are much slower than a silicon-based system, and only able to make decisions one-at-a-time, one-after-another.  If we chose to put a human in the loop, we are normally in “please-update-my-dashboard-faster-and-more-often” territory.

  2. It is important to be clear about decision-latency. Think about how soon after a business event you need to take a decision and then implement it. You also need to understand whether decision-latency and data-latency are the same. Sometimes a good decision can be made now on the basis of older data. But sometimes you need the latest, greatest and most up-to-date information to make the right choices.

There are some good insights here.

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