To understand what fast data is, we first have to look at one of the hot topics of today—big data. Big data solutions address the challenge today's businesses are facing when it comes to managing the increasing volume, velocity, and variety of data. When people talk about big data, they often refer to the volume part. Velocity, on the other hand, is often only a second thought. Velocity is about the ability to store and process large amounts of data in real time. Big data technology might be capable of storing the information when it arrives, but because of its batch characteristics, it is not able to process it immediately and deliver results in real time.
That's where fast data comes in. Fast data is a term that was invented by Ovum's Tony Baer, who defined it as:
"Fast Data, the velocity side of big data, is not new, but technology price/performance trends are making fast data applications more widely available."
Every company wants to be smarter about how they do their...