Chris Seferlis gives us an overview of Azure Stream Analytics:
Here’s how it works. It starts with a data source such as Event Hub, IoT Hub or Azure Blob Storage, and it uses SQL-like query language that allows transformation on the fly. It helps you process operations like filtering, sorting, aggregating and joining the data together to make it more useable—turning data into information.
From there, when you identify the data that you want/need to use, you can then send that data downstream to be sent to a queue for triggering workflows or further processing of the data. You can also send that data to Power BI for real-time visualization. For example, let’s say you’re looking at a data quality stream and you want to pull certain key words out of Twitter to see how they’re used and watch how that’s being done. By connecting to the Twitter API, you can capture that data, stream it, and then report from it with a Power BI report.
Chris also has a video which you can watch.