The Stevie Awards Blog

Data Analysis at Lightning Speed with GigaSpaces

Posted by Hailey Roos on Tue, Jul 28, 2020 @ 10:11 PM

  • Accessing data through GigaSpaces accelerates the operation by up to 100x, meaning that analyses can be processed in minutes instead of hours.
  • GigaSpaces solves the problem of processing rapidly growing data from different sources by seamlessly accessing external data stores to improve the efficiency and streamline business intelligence. 
  • By interacting with data as it streams through the network in real time, users of GigaSpaces can proactively enhance network performance to improve customer satisfaction and to prevent technological slowdowns and glitches. 

About GigaSpaces

GigaSpaces provides the fastest in-memory computing platforms for real-time insight to action and extreme transactional processing. With GigaSpaces, enterprises can operationalize machine learning and transactional processing to gain real-time insights on their data and act upon them in the moment for mission-critical applications across the globe.

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GigaSpaces AnalyticsXtreme, launched in February 2019, accelerates analytics running on real-time and historical data, thus enabling companies to generate smarter, faster insights for better business intelligence on big data. More efficient queries, analytics, and machine learning on live data enriched with historical data can have a huge impact on several time-critical applications.  These include predictive maintenance, live risk analysis, fraud detection, dynamic pricing, personalized services, customer 360, and location-based advertising.

Using AnalyticsXtreme to access information stored on data lakes is accelerated by up to 100x, and batch analytics can run in minutes instead of hours. For example, when stock market data was streamed using AnalyticsXtreme to speed up searches on data lakes, queries were completed in six milliseconds instead of 2.5 seconds—100 to 400 times faster. This time reduction can have a huge impact on trading profitability that requires split-second buy and sell decisions.

How It Works

AnalyticsXtreme accelerates analytics by providing a unified speed layer over different data storage technologies (Hadoop, Amazon s3, Azure Blob Storage) on premise, cloud and multi-cloud. With AnalyticsXtreme, all types of data (structured, unstructured, and semi-structured including tables, key-value, objects, documents, text, graph, images, etc.) is ingested into a multi-model speed layer, reducing the need to stream the data multiple times and accelerating processing by reducing the operational overhead. By co-locating business logic and data, events are processed as they enter the system, resulting in a reduction of multiple network hops and overhead.

A vast array of industries can benefit from this extreme transactional and analytical processing. Insurers can perform a continuous risk analysis to determine the optimal premiums for policyholders. Loan approvals can be executed in near real time. Online retailers can ingest, store, and analyze huge amounts of data about competitor’s offers, personal preferences, and more to generate best offers. Customer service applications can automatically transfer calls to the most relevant agent and then provide answers based on responses to similar requests. Transportation companies can use a live view of vehicles and operators to optimize routes and to protect the personal safety of their passengers. By interacting with rich, real-time data as it streams through the network, telecommunications companies can proactively enhance network performance to prevent customer frustration due to a lack of coverage, slow page downloads, and stuttering video.

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GigaSpaces’ COVID-19 Response

Meeting the expectations of the “customer of now” will require advanced technology that can deliver actionable personalized information at split-second speeds. Real-time analysis is an essential capability, enabling organizations to deliver excellent customer experiences and improve profitability. AnalyticsXtreme solves the problem of ingesting, processing, storing, and analyzing large and rapidly growing data from diverse data sources. It also seamlessly accelerates access to external data stores to improve the wisdom and speed of business intelligence. To provide better scaling and availability to ride out the COVID crisis, GigaSpaces offered a free Go-Live professional services package.

GigaSpaces won the Gold Stevie Award for New Product & Service Categories—Business Technology in The 2020 American Business Awards®.

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Topics: American business awards, emerging technology