Generate more accurate forecasts and predictions
“Forecasting is very difficult, especially when it involves the future.”
– Yogi Berra
Traditionally, forecasting tools were developed to deliver broad-scoped forecasts to support macro business decisions. It is commonly assumed that time-series forecasting models use only fresh, reliable streaming data. Many business leaders would be disappointed to discover how much latency undermines forecasting models due to limitations in the ability to store, access, and process the vast troves of data needed for accurate predictions. Low-latency, real-time data is more important than ever with the increasing velocity and granularity of data and the parallel demand to move towards real time.
A Better Way:
Historically, annual forecasts with quarterly updates were sufficient for business needs, but that doesn’t come close to cutting it in the Intelligence Era. Continuously and accurately predicting future needs is the gold standard of forecasting. To forecast in real-time on the scale needed to remain relevant in today’s data-driven world, one must have access to true real-time data that is both fresh and instantly available.
The Real-Time Database for Any Scale
FeatureBase is designed to deliver secure, fast, continuous access to all your data in a machine-native format. The first and most crucial step in leveraging big data for predictive forecasting is ensuring all of the data is accessible and ready for analysis.
Rather than the conventional approach of moving, copying, and preaggregating data, FeatureBase extracts signals from each of the underlying data sources and stores them in a centralized access point, making data immediately accessible, actionable, and reusable. FeatureBase maintains up-to-the-millisecond data updates with no time-consuming, costly preaggregation necessary.
The Benefits of FeatureBase:
Access to All Your Data
Get access to all the data needed for forecasting instead of picking and choosing due to storage limits.
Forecast at Scale
Eliminate the need to preaggregate data, allowing your teams to dynamically price on the freshest data in real-time.
Collaborate Across Your Entire Organization
With a single access point to decision-ready data, Operations, Product, IT, and more each get the data they need, in real-time.
Real-Time Forecasting with FeatureBase:
A leading global energy research firm has tens of thousands of nodes in each state generating IoT data that they monitor in order to make predictions. With their legacy stack, the data that fed their predictive models was often 48 hours old.
With FeatureBase, the firm is able to:
- Make predictions based on real-time data instead of 2-day-old data
- Increase the data sources and volume of data powering their predictions
- Continuously feed market conditions back into the system to improve predictions
Request a Consultation—
Contact us today to learn more about how Molecula FeatureBase can transform your business through eliminating preaggregation and unlocking real-time value.