Is fast data set to replace big data?
Matt Quinn, chief technology officer at TIBCO, has criticised big data for not being relevant enough to the daily life of a business.
Speaking at the company's Transform conference in France, he made the comments while speaking about the company's plans to refocus its business software on the analysis of time sensitive data.
"The challenge with big data is that it has not gained relevance to your everyday life, to the operational decisions you are making on a daily basis," Quinn said.
So-called "fast data" is claimed to give businesses minute understanding of its operations, making particular use of the Internet of Things to collect the necessary data, he added.
"Fast data is the ability to process big data in real time, which allows us to gain instant awareness of what is going on in this particular moment in time and take appropriate action".
TIBCO will hope to apply fast data to a variety of contexts, from monitoring whether doctors or nurses are washing their hands when moving between rooms, to better equipping airlines to respond to weather patterns.
"With all these big chunky changes going on in our industry, we believe all this converges around fast data," Quinn said.
"What fast data is all about is being able to find the needle in the haystack again and again and again."