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BUSINESS WHITE PAPER
The Power of Real-time
Continuous IntelligenceT with ESP
Using CEP Technology for Market and Big Data
Intelligence and Response
www.sybase.comTABLE CONTENTS 1 The Power of Real-time or Continuous IntelligenceT 3 Reaping the benefits of Continuous Intelligence3 Validating market data4 Trade, algorithm monitoring and analytics5 Real-time risk aggregation5 Compliance and surveillance 6 Sybase CEP Powers High-speed Surveillance Applications6 Real-time P&L6 Derived data creation6 Continuous real-time ETL7 Integration hub/message broke7 Network performance and latency monitoring7 Security pricing 8 Sybase ESP 9 ConclusionINTRODUCTION WHAT DEFINES "BIG" DATAFor businesses, the lasting lesson of recent military intelligence operations is that they show the value of focusing The McKinsey Global Institute, on patterns of events, even over a number of years, to determine whether taking an action is worth the risk. the research group within the Just as every newsroom in the world today must react in real-time, competitive businesses likewise must seize on consulting firm, defines big data as "datasets whose size is beyond the the scraps of information that wire services and intelligence agencies, for example, use to project whatever their view ability of typical database software is of the world. tools to capture, store, and analyze." This requires dealing with "big" data - meaning messy data incoming from everywhere and everything - from The authors of the McKinsey report disparate sources in real-time such as smartphones, networks, sensors, tweets, emails, stock trades, watch-lists, and The challenge - and opportunity even from - to use the military term - boots on the ground. - of "big data" explain that this definition purposely excludes quantifying big data by a number THE POWER OF REAL-TIME OR CONTINUOUS INTELLIGENCET of terabytes (thousands of The volume of data amassing in organizations rises, and rises to almost beyond comprehension. gigabytes), because over time the size of big data datasets will rise. By 2015, Cisco's Visual Networking Index suggests that global mobile data traffic alone will reach 6.3 exabytes each They also note that the definition month, that's 75 exabytes every year. can vary by sector, depending on the software tools used and the For perspective, a transcript of every word ever spoken would run to 5 exabytes. Given 75 exabytes of annual global sizes of datasets common in a mobile data traffic, we'd have the equivalent of 19 billion DVDs or 536 quadrillion SMS text messages. To put these particular industry.large numbers into the securities trading context, the Aite Group says trade and quota data for the New York Stock The challenge is to capture, filter, clean, organize, analyze, and Exchange (which logs about half a trillion trades a month) has exploded from an average of six to seven million process this streaming real-time transactions a day in 2000 to 500 to 600 million a day in 2010. information into an all-embracing real-time perspective to help Effectively this means that the financial services industry is in the business of monetizing information to generate trigger faster, better decisions new sources of value. The smartest companies in the financial services industry have accepted this fact with 22.1 and actions.percent of them embedding analytics to transform information into insight and action, according to a recent report Smart companies are already in the MITSloan Management Review. In a key finding, the report identifies lower performers as those that apply raising the competitive bar in analytics less than the average rate of 5.5 percent, with low performing financial services organizations falling as low financial services and other industries by pursuing big data and 4.75 percent. using the innovative technology known as complex event These low performers are struggling to update and connect complex legacy systems to manage the overwhelming processing (CEP) or as another stream of incoming data, according to the Boston Consulting Group. As a result, though IT budgets rise, several studies derivation, event stream processing show that throwing more money at the problem has not driven differential performance. (ESP) - to give them the ability to speedily capture, interpret, and act Agile information savvy competitors are already leaving behind those low performing companies tha... [download for more]
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