Streaming analytics is the modern solution for processing and analyzing big data. In a digital world, data is one of the most valuable resources that any organization has, but due to issues with digital transformations, many companies are still failing to monetize data properly.
While it used to be okay to rely on legacy request/response systems that required a pause for each steam in event stream processing, the fact is that there’s too much data coming in from multiple data sources to use such outdated technology. Today, you need to be able to process and analyze data from multiple sources in real-time. This is made possible through analytics that can make continuous queries without having to wait for responses from other systems.
The benefits of streaming analytics are as multiple as they are necessary, and it can help you gain actionable insights into your business processes, highlight inefficiencies in the supply chain, cut preventable losses, and much more. Of course, you wouldn’t want to trust all these capabilities to just any provider out there—you want to find the best analytics providers for your needs. This is where Forrester Research can help.
Creating the Forrester Report
The Forrester Wave™: Streaming Analytics report is intended as a guide for analytics customers to find the best analytics solutions on the market. It’s an aggregate of the best companies that are collected each quarter based on a 22-criterion evaluation. Forrester’s methodologies are made public to ensure a fair assessment of each participant. The full report is made possible thanks to the cooperation of four crucial players: the analyst, research associate, vendor response team, and customer references.
The analyst is the expert in charge of the report, and they’ll set the evaluation criteria and collect report notes on each provider. The research associate keeps the report process on schedule and meets with vendor response teams to see product and services demonstrations as well as take notes on market strategies. If a vendor ever decides that they don’t wish to participate in the process, the Forrester Wave Report will continue its evaluation based on the Incomplete Vendor Participation Policy. Customer references are also given weight to judge each advanced analytics provider’s market presence and how well they serve customer needs.
Each participant in the Forrester Wave will also receive a questionnaire detailing information that the analyst needs. Once their scorecard is complete, each vendor will have an opportunity to review it and correct any errors that may be present. Five days before the publication of the Forrester Wave, each participant will receive a courtesy preview. Based on their scores, they’ll be placed into one of four groups: challenger, contender, strong performer, or leader.
Industry Leaders
If you’re looking for the best providers available, then you won’t have to look any further than TIBCO Software. In the Q2 2021 report, TIBCO was named an industry leader along with Google, Microsoft, Oracle, and SAS. TIBCO’s greatest strengths lie in their scalability, ease of development, and market presence, all of which they earned the highest possible score for. The Forrester Wave weighs the ease of development and scalability above all other factors, which made TIBCO Software Inc. a standout.
The report especially praises TIBCO’s purely visual development tools. These require no code, so any business leader can customize TIBCO solutions to fit their needs. Of course, experienced software developers are free to add their own code at any time. Things get even better with the easy data visualization capabilities of TIBCO Spotfire.
Unless you’re a data scientist, it can be difficult to make sense of raw data, but with the ability to automatically find the most interesting patterns in your data and display them in easily understandable charts and graphs, you’ll have no difficulty explaining them to shareholders. Best of all, there’s a free 30-day trial of TIBCO Spotfire, so you can see for yourself how they’ve become an industry leader in streaming analytics solutions.
