For instance, with Oracle Database In-Memory, business analytics are literally executed while the business transaction is ongoing. This means that companies are able to get instant and up-to-date answers all the time to deliver enhanced customer experiences and efficient operations.
In-Memory isn't exactly new so how different are the current ones from those in the past?
One of the key differentiators with Oracle Database In-Memory is that it is designed for mixed workloads. This refers to the fact that it's built on a unique dual-approach. The first accelerates analytics and ensures that the most up-to-date transactional data is constantly available. The second approach uses Oracle's In-Memory technology and does not outsource any of the data to a separate database.
Similar products in the market are mostly designed for analytics alone, whereas Oracle Database In-Memory works well for both — the analytics and transaction processing. And this is ultimately what simplifies the technology infrastructure.
Besides In-Memory, are there any other capabilities required to enable "real-time" enterprises?
Today, information is the lifeblood of every business. Companies need to be able to deliver the right information, to the right person, at the right time. Customers require this and compare more than ever before their experience with businesses against companies that fulfil these capabilities.
So, in the first instance, it is imperative for companies to change their mindsets and become aware of the power of real-time information management since this will provide them with the ability to surpass their competitors.
However, to unlock the analytical insights of an ever-increasing amount of data, businesses need to have an automated process in place that involves the extraction, indexing and storage of data. And this is where technology comes into play, since a manual process would take too long to deliver analytics insights. Having the right technology in place — such as event processing, streaming and workload optimised engineered systems — can help significantly to enable real-time architectures.
Tell me more about the challenges faced by organisations in enabling real-time capabilities and how they should overcome them.
For years, companies have been talking about transitioning to the "real-time" enterprise. However, a key barrier to entry is the assumption that the adoption of "real-time" technologies comes with significant financial investments - that's not entirely accurate. In-Memory technology has been in the market for over 10 years now and while it used to come with a hefty price tag, the technology has actually increased in availability and affordability to the critical mass over the past couple of years.
Another challenge faced by businesses is related to the implementation of these technologies. Many companies tend to have the mindset that deploying In-Memory technology requires a complete overhaul of their IT infrastructure, as well as new technical skills set. However, that again is not usually the case. Oracle's In-Memory technology, for example, does not require businesses to make any changes to their infrastructure. In fact, businesses can actually preserve their IT investments from the last 30 years and simply build up on it.
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