Real time analytics — State of the art: Potentials and limitations in the smart factory

The development of the Internet of Things (IoT) creates a multitude of new Real Time Analytics (RTA) application possibilities, also in the area of industry. However, already the topic of big data forced the use of analytical solutions which were processed in real time. In order to consider the possible applications of RTA, it is necessary to gather the current state of them. Thereby, the term RTA is not separable with regard to the other concepts, rather it may be viewed as the application of those analytics concepts, based on current data. The application of analytics in real time demands a clarification about analytics itself to gain an understanding of possible application scenarios. This paper introduces the term RTA and depicts related concepts.

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