“Event” (noun) - a thing that happens or takes place, especially one of importance.
As the dictionary definition tells us, an event is something that happens of importance. Events are happening all the time and all around us, and whilst they may not all be important to us; they will be to someone somewhere, providing they can get access to them in real time.
And whilst we can learn and get great value from historic events (or data) and can learn many things; the reality is that the value of events diminishes over time. In most instances, there is a very rapid drop-off over time of the value of information as Gartner highlight below.
There are countless examples across all industries and sectors that can easily demonstrate why real time data is important; from Financial Services trading, to Border Control and Security alerts, to Autonomous Vehicles making decisions, to retail organisations managing stock and demand, to Healthcare and the timely diagnosis of illness!
Having access to events and information as they occur is critical. Waiting for a day or even an hour for a batch of information to update is no longer an option for many people, businesses or Government organisations.
Our individual expectations around the availability of data have been radically changed over the past 15-20 years with the advent of smart phones and devices, the access to the internet and improved connectivity and coverage. Unfortunately, both commercial and government organisations are hampered by the past. Their IT legacy investments and strategies had left them ill-equipped to deal with this rapid change in expectations.
Those businesses who can offer an instant response and allow for personalisation of experience have thrived over the last few years, whilst many who haven’t have gone forever. The Public Sector is unique in that it doesn’t have this natural selection process, and is also in a worse situation due to years of political changes which have created possibly a larger set of challenges around their legacy IT systems.
So whether the driver is improved customer experience, streamlining the citizen experience, reducing fraud or coping with rapidly changing demand patterns and logistics capability; the benefits are clear; improved decision making based on real data is the future path that customers and citizens expect and demand.
Those organisations who can respond in real time to the various events (and combination of events) that are happening, are the ones who will thrive as their customers are delighted and share their experiences, and this is where Solace’s Event Portal – the market’s first and only event management platform, Solace provides a comprehensive way to create, document, discover and stream events from where they are produced to where they need to be consumed – securely, reliably, quickly, and guaranteed. You can learn more about how the Event Portal can help organisations from all sectors in my colleague Jonathan Schabowsky’s blog post here https://solace.com/blog/why-architects-need-event-portal/
Our expectations are so high now - we have real time access to information in our daily lives all of the time, and we should expect that our partners, suppliers and public sector providers do too, to enable them to provide the level of service and access to information in real time that are possible, and that we all deserve!