Unprecedented innovation in transportation is possible when we turn the torrent of data from sensors and applications into actionable insights.
Tapping into the benefits of innovation while ensuring reliability and responsiveness requires the ability to move on fast data for real-time insights.
This need coupled with high customer expectations and network complexity requires new, insight-driven strategies.
Multiple transportation businesses, such as airlines, rail, shipping and more can improve safety and reduce operational costs with real-time monitoring and diagnostics, enabled by ingesting and analyzing streaming data from billions of sensors in real time.
Sharing the information with business stakeholders will improve visibility and collaboration, reducing time-to-maintenance and failure scenarios through millisecond scale, just-in-time visibility.
For example, you can obtain real-time information about how policyholders are driving their cars, such as their speed, sharp braking, where they drive, and at what time etc. Using this information, safer drivers are rewarded with lower lowering premiums.
Leveraging the data in the transportation network enables the prediction of delays, optimization of transportation routes and scheduling, and improves the supply chain.
The ability to analyze data in seconds or in sub-seconds impacts more than just revenue. Rather, it can impact human life. Every second counts, every wrong turn or technical issue, can potentially bring on a tragic domino effect. Real-time simulations provide the actionable insight required for avoiding such a scenario.
Moreover, simulations also provide the ability to analyze the multiple variables that impact decisions, such as fuel costs whether to delay a flight, add another train to the schedule, and how to comply with industry regulations (such as restriction on how many hours a pilot can work).
Analyzing data in real-time and leveraging advanced analytics on additional external parameters such as competitor pricing, operational status, weather, and others, can impact the top line.
The transportation business entails many complex, interdependent parameters such as order requests, available drivers, the geographical location of the customer, and more.
A unified data science and real-time application platform can help unlock immediate insights as data is created, empowering time-to-analytics and make revenue-impacting decisions at sub-second scale.
Organizations in the transportation industry require real-time access to insights from mission-critical data. The needs and requirements of operational performance in this sector can change from minute to minute, regarding equipment, human resources, and more.
For example, extreme weather might delay departures and arrivals in one city, which can have a cascading effect on the operations of dozens of other cities, as well as on prices, workforce planning and scheduling, fleet availability, and so much more.
Through the unification of data science and real-time applications in a single platform, these organization can identify and access relevant data from the masses that are aggregated from hundreds of sensors and applications, and extract real-time, actionable insights to be agile in their operations and services by making smart changes on the fly as needed.
Performance Improvement for Online Banking
Avanza Bank Holding is the largest online stock broker in Sweden with more than 600,000 customers and the largest number of deals on the Stockholm Stock Exchange. Avanza is one of the options open to private investors who want to play an active part in their investments and savings programs.
Avanza’s goal was to optimize its existing applications for maximum performance, as the core of their system became very tightly coupled application architecture, which proved to be difficult to change and extend with new functionalities. Avanza found it difficult to scale due to the inflexibility of legacy application and third-party tools.
With GigaSpaces, Avanza achieved major performance improvement, increasing customer experience by 100X, from hours to seconds.