Nuuy, a clothing rental company, leveraged Kafka to use event-streaming analytics for a smooth brand launch. It helped the company meet the target launch date smoothly with a reduction in administrative overhead. With the recent developments in the data infrastructure, companies like Nuuly are tapping into the power of event streaming to make actionable data-driven business decisions. The impact of adapting event-streaming on businesses depends on the purpose for which data is being used. In this article we will read about some of the top Event Streaming Use Cases.
What is Event Streaming?
Event streaming is the process of streaming data-driven events in real-time. It could be as simple as getting a one-time password for every log in at an internet banking portal. It is a practice wherein actions are dependent on a continuously generated series of data.
For companies keen on applying artificial intelligence(AI) to their business process, event streaming plays a critical role. AI applications use live event streaming data to optimize company performance.
3 Game-Changing Event Streaming Use cases for Businesses
Event streams are the bridge that connects the company’s scattered data sources to its data lake. The event stream analytics uses this data to identify patterns for organizations to create a data-driven business.
With an optimum event streaming application, companies can transform their businesses and enjoy a stress-free journey towards achieving excellence. Some of the most powerful use cases that have proved to be a game-changer for businesses are:
A recent survey reveals that 90% of the respondents agree that data and system integration plays a critical role in delivering a personalized customer experience.
Event streaming has enabled efficient customer 360 integration into business to overcome the challenges to achieve the same, like data silos and slow integrations to make the best use of customer data to reap profits. Brands can now examine customer behavior and derive actionable insights using customer 360. Care.com, an online marketplace, implemented event streaming to create a simple, unified IT infrastructure with microservices that uses streaming events for less time to market services. It has helped the brand deliver a better customer experience with the optimum use of customer data.
IT legacy Migration
Businesses need to keep updating their technology infrastructure to be relevant in this digitally evolving era. It means migrating legacy applications to newer data-driven applications has become important more than ever. Event streams help businesses migrate to microservices to reduce the dependence on costly systems and lower operating expenses.
Generali Switzerland uses event streams to modernize their applications to meet the growing customer demands and carry out the business operations faster with higher efficiency.
Real-time data analytics
Companies need real-time data analytics to make fast decisions and seize growth opportunities on the go. It also helps them create a reliable reputation among customers as it provides real-time fraud detection. Pooling in real, usable data helps businesses achieve digital transformation in its truest sense.
Demonware leverages event streams to use real-time data to scale their data pipeline infrastructure. It uses real-time data analytics to diagnose and optimize its services and help its designers create an exceptional player experience.
The digital world calls for the creation of massive quantities of data. As AI continues to drive businesses, the use-cases for which the data for business transformation is limitless. Also, with the customers expecting round-the-clock availability, event-streaming capability has become a must for businesses to create strategies for an effective digital transformation journey.