As technology advances each day, more and more options are becoming available to the end user, much to the relief of many individuals, businesses and organizations. Take for instance, the in-memory database. In-memory database technology has been at the forefront in enabling businesses to mine operational data for their business intelligence. But what exactly does in-memory database refer to? This is a database that runs entirely within the working memory, or RAM, of a server or servers.
In the year 2014, the performance-monitoring service New Relic launched an application that would enable businesses to use the data acquired through operations to build on their business intelligence. Business intelligence is crucial and enables businesses to understand how to handle their customer service, security and targeted marketing. This application that was unveiled by New Relic muscles through huge volumes of data to arrive and answers to queries input by users.
In addition to the many applications that can be based on the in-memory database, this database type is growing in popularity on its own accord. There are several reasons for this. Some time back in-memory databases were a preserve for well-funded fast-trading financial firms. Fast forward to day and thanks to the falling costs of server memory, more institutions are able to afford the in-memory databases. Also, the fact that more customers are demanding faster speeds when it comes to accessing Internet services has pushed companies towards ensuring these demands are met.
An increasing number of technological companies are offering databases that have in-memory capabilities, and thus availing the benefits of the in-memory database to companies and consequently, their consumers. There are also a growing number of caching tools that have been developed, with the aim of allowing companies to keep their relational database content into memory, such as Memcache and Redis. For example, Facebook uses MySQL to store user data but prefers Memcache when it comes to getting material quickly to users.
Microsoft, Oracle, Altibase and other companies that are considered to be the best in-memory database providers are continuing with the upgrades and development of their technology solutions.
The in-memory database is quickly becoming a favorite among many enterprise owners, with the questions shifting from “what is it?’ to “How can I do it?”. It is clear that as far as operations are concerned, business owners are constantly seeking means to improve on efficiency and service delivery. For instance, the in-memory capabilities of a database do not just improve speeds of delivery, but can create new business lines as well, including being able to change product prices to counter the dynamism of competitors’ prices.
Dynamic pricing is something that can be done with standard relational databases, but when done with in-memory databases, the process is much faster and delays are eliminated. By integrating in-memory databases with the appropriate data processing platforms, big data can also be handled in these databases.