The Unrealized Opportunities with Real-Time Data

Chapter 3. Stream Processing Use Cases

Stream processing, the capability of transforming, analyzing, and making immediate decisions based on real-time data, offers immense potential for organizations aiming to capitalize on the instantaneous nature of today’s data streams. Leveraging advanced analytics techniques, such as ML or AI, stream processing can discern trends, detect anomalies, and make predictions. In this chapter, we focus on practical use cases that demonstrate the power and potential of stream processing.

Recommendations and Personalization

Stream processing can drive the delivery of real-time personalized experiences to customers by rapidly processing and analyzing real-time data based on their preferences, behaviors, and interactions in the moment. Let’s take a look at common use cases, such as real-time personalized offers and purchase recommendations.

Real-Time Personalized Offers

As a customer navigates an online platform, their transactional behaviors, browsing patterns, and interactions across various touchpoints are captured in real time. This data, when analyzed through sophisticated ML algorithms, unveils a wealth of insights into the customer’s current context and preferences.

For instance, consider a customer browsing an online fashion retail platform. Stream processing can monitor their browsing patterns, the time spent on specific items, previously bought or favorited items, and even real-time interactions, such as adding items to the cart or wish ...