In this day and age, data holds great significance for businesses. Unlike in the past, when business decisions were taken based on experience and industry dynamics, nowadays they are taken based on the insights discovered through data. Regardless of the industry, relevant data and its processing have become very important for the success of businesses across the globe. And as a result, fast processing solutions like real-time and millisecond transaction processing have come into demand.
Why You Need to Invest in Fast Data Processing Solutions?
Although procuring software and hardware for fast data processing is important, it involves huge investments that can drain your company’s account. But without the right resources, you cannot extract the right insights from huge datasets. All the effort that you have made in aggregating vast troves of data will go waste, if not for the right hardware at your disposal. This is why; you need to invest in necessary hardware and software resources before you can expect good returns from your venture. And, if you are unable to come up with the finances to undertake a challenge as big as this, it is best to partner with a millisecond transaction processing vendor that has access to the appropriate resources.
Essential Capabilities of Millisecond Transaction Processing Vendor
To ensure that you get maximum returns from your partnership, you should select your processing vendor with great care. Look for the following capabilities to ensure success in your business venture:
- Versatile hardware resources – For a stable and hassle-free relationship with your vendor, you need to ensure that it has different types of hardware resources to undertake different types of processing tasks. In-memory processing, parallel processing, millisecond transaction processing and real-time data stream processing requirements can be fulfilled with very specific hardware. For example, for in-memory processing, you vendor needs to have computer systems that have RAM drives for quick fetching of information. And, for parallel processing, you may require Nvidia CUDA processing or Google’s proprietary TPUs.
- Access to database software and DBAs – As much as transaction processing is about hardware, it does require software in the form of database platforms. And even more importantly, it requires DBAs with skills and experience in managing huge databases.
- Security – All the information that you will be offloading to your vendor needs to be protected with strong security measures to ward off the threat of hackers. Always partner with a millisecond transaction processing services provider that not only employs strong encryption today but also updates it timely to meet future security perils.
- Redundancy for safe data storage – When data is stored at only one location, it becomes susceptible to natural or human-inflicted disasters. By partnering with a cloud-based processing service provider that stores its data at multiple datacenters, you can improve the safety of your data considerably.
- Fault tolerance – Frequent disruptions in data processing can inhibit a system’s performance to generate meaningful insights. Ensure that the vendor has hardware with high fault tolerance and self-healing capabilities to ensure consistent operation at all times.