What is in-memory database technology?
An in-memory database is a database management system that primarily relies on main memory for computer data storage. It is contrasted with database management systems that employ a disk storage mechanism that traditional databases have relied on for a very long time.
Instead of retrieving business data from a traditional disk-based database, or collection of databases, in-memory database technology facilitates the quick and efficient way to retrieve a high volume of data in a quicker and more efficient way.
This is particularly useful when a business grows or mergers with another company and lots of data needs to be collected. Data can come in all sorts of forms and for growing companies, it can mean ineffective business operations across the entire organisation if the required information cannot be retrieved easily.
An in-memory technology based solution has the following features:
You don’t need to worry about fast growing data – you can focus on growing your business
You only need to access a single business management platform – not a multitude of databases
The set up of clusters of information enables your data to be scalable from day one
You can combine your transactional and analytical data together in one system - easily
You gain instant access to real-time data
You can plug in your existing databases quickly so you don’t lose any historical data
Watch this 2 minute video of SAP's HANA in-memory technology in action:
As a growing business what do I need to know about SAP's HANA in-memory technology?
It’s available in 120 countries and 27 languages
It combines all of your key business processes including accounting, HR, sales, marketing, service, customer relationships, warehouse, inventory, distribution, reporting and many more
It’s affordable, you can start small and the platform will grow as you do
You will be able to instantly know anything you want about your business across multiple devices and be confident that the data is reliable
Innovative apps are available to support businesses when they are growing, e.g. the advanced available-to-promise (ATP) app and the cash flow forecasting apps can offer quick insights for agile business processes
The embedded analytics function easily creates visual dashboards so users quickly become comfortable creating complex reporting
Customers will benefit in many ways because your service, quality and insights will be based on their preferences enabling you to offer tailored and innovative customer experiences
Pervasive and predictive analytics are embedded into the solution so you can instantly analyse a large amount of data as soon as business transactions are complete
IT and finance employees do not need to spend hours extracting and analysing data, freeing them up for more important activities
How can SAP HANA’s in-memory technology benefit my business?
There are numerous ways that a growing business can benefit from in-memory technology. It can transform an entire organisation’s business processes!
Here are the top 5 benefits:
Enables your business to be truly agile – respond to the changing market quickly, adapt products and services with little effort, create targeted sales campaigns for maximum results and keep on top of cash flow.
Allows you to make quick and accurate decisions based on data you can trust – take measured risks and be confident in your moves – this can really differentiate a successful business from the rest.
By combining structured and unstructured data sources (e.g. spread sheets as well as social media feeds) you gain a single source of truth around your business.
By automating processes and providing an easy to use platform, you can optimise your resources fully; especially important for businesses in the early days
With pervasive and predictive analytics your business is not held up by extracting and analysing important data – leaving you the time to focus on growing your business.
Don't hesitate to leapfrog your competition by adopting suitable in-memory based technology to support your business today!
Image Credit: Photo by Rafael Pol on Unsplash
A version of this post has been published in my blog