For the uninitiated, streaming analytics, also known as event stream processing, is the analysis of big data on a continuous basis. While computer systems used to have to rely on legacy request/response architecture, which required computers to wait for each individual step in the process, they can now run multiple complex events at one time with real-time reactions to each development in the event chain. This is extremely useful for business users who want to improve their business intelligence and data management to gain better insights into market trends, competitors, and even their own business processes.
Traditional analytics tools are fine for studying data that’s at rest, but that’s also yesterday’s data. In today’s digital world, you can only monetize data to the fullest if it’s both accurate and current. You can’t rely on disparate data streams from unconnected systems anymore. In the time it takes you to manually transfer the data between your systems, it’s already out of date and limited in its use for business intelligence. Real-time intelligence leads to smarter actions, and automation will help you process data faster than ever before.
Of course, you won’t want to use just any run-of-the-mill enterprise BI platforms—you’ll need to partner with companies with the best current offerings to take full advantage of analytic insights. Fortunately, the Forrester Wave exists to help guide businesses on the best options available on the technology market.
Compiling the Forrester Wave Report
The Forrester Wave is a quarterly report conducted by Forrester Research in which they score vendors based on their most important criteria. The report is compiled of information collected by a lead analyst, research associate (RA), vendor response team, and customer references. In the event that a vendor chooses not to participate in the report, they’ll still be scored based on Forrester’s Incomplete Vendor Participation Policy.
Evaluation data is gathered based on a questionnaire delivered to each vendor, executive demonstrations of product functionality and market strategies, and interviews with customers referencing each vendor. Once each vendor is scored, they’ll receive a courtesy preview of the report five days before publication. If you’re looking for a top-tier analytics solution, look no further than TIBCO Software Inc. In Q2 of 2021, it was declared that TIBCO Named a Leader in The Forrester Wave: Streaming Analytics Report. Being classified as a leader is the highest honor available.
Ease of development and scalability are the two most important criteria that Forrester looks for, and scoring high on these is a fast track to the top. One of the biggest challenges of streaming data is that the amount of data pouring in at any moment is rarely consistent. Because of this, data preparation and scalability are crucial. Any solution has to be able to adapt to increased data streams on a moment’s notice.
Beyond scoring as a global leader along with Microsoft, Google, SAS, and Oracle, TIBCO Software received the highest possible score from Forrester in development, enablement, and market awareness. TIBCO received praise in the report for their real-time insights that can be used in both automated processes and by business leaders. Their ease of development was especially praised, thanks to their purely visual development tools with no code required.
With TIBCO Spotfire, it’s possible to create visual analytics easily as well, since the system can automatically simplify complex data streams in charts, graphs, and geolocation visuals that can be understood at a glance. Custom mod tools even allow business leaders to improve Spotfire’s connectivity with additional APIs or add visuals from other programs.
With a 30-day free trial to TIBCO Spotfire, you can experience these advantages for yourself and see why TIBCO is considered an industry leader today and how they’ll carry their success into Q3.