eMagiz is introducing Event streaming as a new pattern in its Enterprise iPaaS Platform. Why should you want to use event streaming within your organization?Now that our world is creating more data every day and now that this data is increasingly moving more freely between organizations and their customers, streaming of events is becoming more important. But what actually is event streaming?
A simple way to think of event streaming is that it enables organizations to analyse data that refers to a certain event and react to that event in real-time
Everywhere in the world each and every industry is being driven by events. For example, when there occurs a business transaction, like a customer placing an order or a making a deposit to their investment account, that is an event initiating a next step. Nowadays, customers are looking for more personalized experiences that are ‘responsive’ reactions to their actions when communicating with a businesses. Besides that, customers are nowadays more used to a quick response and nobody is willing to wait. It becomes critical to make real-time decisions based on events.
The three primary business applications of event streaming
The enormous amount of business events create an extensive amount of data. This may cause many complications to obtain real-time insights in the data, let alone making real-time decisions. Businesses must provide reliable insights that result in quick decision making and improvement of customer experience. Event streaming can be a crucial contribution to this.
The three most important arguments to integrate event streaming in your IT landscape are:
- Utilizing unused data: Businesses have an enormous amount of data available. Industrial businesses for example have data on machine malfunctions, completion times, capacity peaks and flows and more.
Airlines have information regarding waiting times, delay of airplanes, records of maintenance and purchase patterns of tickets. Next to those, they have access to many other data sources. At the moment, much of this data is somewhere stored in a random folder. Instead of contributing to primary processes it is only costing money. Businesses can leverage the data to make their primary processes more efficient and effective.
- Utilizing real-time data insights: One of the most important principles of event streaming is to have real-time insights in your data flows and to have the ability to respond directly. For example, there is a consumer shopping online for a new washing machine that you don’t have in stock at the moment. Retailers will miss this sales when they would obtain this data a week later since the shopping customer probably already went to a competitor to buy a washing machine.
Businesses must be able to profit from real-time insights. In the example mentioned above, the company could have offered the consumer a deal with a similar model that was in stock. In the case that a consumer shops in the actual store, business can target their advertisements on that location using location-related data using mobile traffic of public wifi.
- A better and more relevant consumer experience: In a situation where a business combines new data flows and real-time data insights, there is a possibility to offer better and more relevant consumer experience. With the abundance of choice for consumers it is critical to not only offer the best products but also offer the best and most relevant consumer experience. By responding instantly using real-time data insights, companies can create new experiences for their customers.
Take the example of airlines. In the case that flights are cancelled or delayed, servicedesk operators are flooded with unsatisfied customers. With the possibilities of event streaming, employees can be warned that an event has taken place and they are able to directly respond to that and rebook their passengers to a flight with a similar route causing a better consumer experience.
Apache Kafka & eMagiz
At the moment Apache Kafka is the most used, most scalable and popular framework for streaming events. With the framework users can sent, store and request data wherever and whenever they want. The Kafka framework is a combination of multiple tools that work together to enable the streaming of events. That’s where eMagiz Event Streams proves its added value: configurating and linking all loose components is a complex challenge for IT departments and eMagiz offers a full service layer on top of the Kafka framework so business do not require profound knowledge. We take care of all provisioning and ensure your data streams to be effortless, that way you can focus on actually using the data. We design, build and maintain your infrastructure!
By Bart Buschmann, Commercial Manager @ eMagiz