We often hear that patience is a virtue. That all good things come to those who wait. Those phrases are common in so many walks of life, but they just don't work in business. In most industries your competition gains more of a competitive advantage the longer you wait.
In business the good things come to those who can’t wait. That’s why technology like in-memory computing has become such a game changer for small to medium businesses. In-memory computing technology allows data to be stored, analyzed and processed in your server’s RAM rather than stored on and accessed from slower hard drives.
That’s just a basic description of a complex process to help with a practical understanding of the technology. The best way to think about in-memory computing is to look at the advantages it gives your business.
Information is Processed Faster
Put simply, in-memory computing technology, like SAP HANA, makes everything go faster. It can turn data processing tasks that used to take hours into minor, near-instant functions. By removing your system’s reliance on slow hard drives, in-memory computing lets you process huge volumes of data in a very short time. Meaning all of your reporting and analytics functions work faster and your data is more up-to-date.
The End of Almost-Relevant Data
That shift towards more up-to-date data can also change the way you think about your data. Have you ever held back on making a decision because you wanted to wait for more relevant information? Or second-guessed yourself because you were working off ‘old’ data? With in-memory computing you can generate real-time data, so you never have to worry about what the next report might say.
The knock-on effect of that shift towards real-time data is the change it brings to reporting. You no longer need to wait for monthly, quarterly or annual reports to review your organization’s success. With in-memory computing you can view large-scale reports and analyze data at any time. You get all of your relevant data with no waiting.
Investing in in-memory computing technology isn’t just about improving the efficiency of your reporting tools. It actually makes your entire organization better informed and more effective in the way you use your data. Those are much more important virtues than patience.