What is an event streaming?
Event stream is the process of responding to event occurrences that are constantly generated by a system. When talking about an event, an occurrence, or each point in the system, the word “event” refers to anything that happens. Meanwhile, the term “stream” is used to describe something that is always happening. As one set of events is described as “streaming data,” or “data streams,” another may be referred to as a “sequence of processes.” Analyses that are done on such events include calculations such as summation, such as mean, and deviation, transformations like converting numbers into dates, and enrichments like bringing in new data points ( inserting the data into a database).
Event stream processing works as follows:
Data set processing is done by treating one item of data at a time using an event stream. When you use an event stream processing tool, you are processing a stream of data as it is constantly generated. This needs a certain combination of tools.
In an event stream processing environment, there are two main classes of technologies:
- The event-tracking system,
- Application-specific technology enables developers to create apps that handle certain events.
The former component has to do with data storage, and it is concerned with data storage based on a timestamp. The reason we'd collect outdoor temperature every minute of the day and use it as an event streaming is that we'd want to make a reliable, periodic temperature recording. Each "event" is the measurement of the temperature with an accompanying timestamp.
The benefits of event streaming in business include:
Because of the large number of business events, there is a large quantity of data. This presents a significant challenge when it comes to real-time choices. Streaming events is critical for companies today for these three reasons:
Using data that is otherwise unnecessary.
Every business has enormous quantities of data floating around in the environment. For example, a manufacturing company may contain data about machine breakdowns, how long it takes to complete a project, maximum production capacity, use statistics, and so on. Passengers have information on how long passengers must wait, how often flights are delayed, how frequently planes are taken out of service, and their ticket-buying habits, among other things. A lot of this data is just sitting and gathering dust right now. Using such data for good may benefit an organization.
Obtaining data insights at the moment they occur
As one of the fundamental principles of event streaming, one must be able to act on real-time information. If it's out of stock, the client is going to leave and find something else. As much as it benefits the store if they get insight on that data a week later, doing so harms them. Since the client has already left, something else has already happened.
Companies should be able to use real-time information to their advantage. A business may send a tailored ad or discount if location data is gathered via mobile phone traffic or public wifi because the consumer frequents the area often.
The more engaging your customers' experiences, the better it is for your business.
When a company integrates data from both up-to-the-minute streams and historic data, they have the potential to provide improved and more engaging consumer experiences.
For instance, consider an airline. In the event of aircraft cancellations or delays, agents dealing with customers and agents stationed at desks are sometimes inundated with an inflow of distressed customers. You can do all of this and much more with event streaming.
To better respond to business needs in the future, your company should use event streaming. When used to power basic event notifications, for example, delivering an alarm when a stock price plummets, the streaming architecture can enable anything from simple event notifications to real-time machine learning models to identify suspect trading behavior.
by Habibaditor on 2021-07-06 01:43:28
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