Real-time analytics has become increasingly important in almost all industries, not leaving the financial industry behind. In order to derive insights and make informed decisions, financial organizations globally are in need of one thing – access to clean, updated data. In my article, I will take you through how organizations are utilizing PostgreSQL to power real-time analytics, while also showcasing some examples of how PostgreSQL helps with processing data in real-time.

The importance of real-time data and the role of PostgreSQL in financial enterprises

Real-Time Analytics in Finance

Live data analytics allow financial organizations to quickly respond to market changes and make well informed decisions based on real-time data. This is especially important in the finance industry, where decisions need to be made quickly to take advantage of market opportunities. Real-time analytics involves processing data at breakneck speed using tools for streaming data pipelines and advanced analytical functions.

How PostgreSQL aids Real-time Analytics

PostgreSQL has several features that make it ideal for real-time analytics. For example, PostgreSQL’s support for streaming data and advanced analytics functions like window functions allow finance organizations to process and analyze data in real-time. This makes it possible to quickly respond to market changes and make informed decisions based on updated data.

Best examples of Real-Time Analytics with PostgreSQL for the Finance sector

1. Trading Analysis:
   PostgreSQL is being leveraged by top financial organizations to analyze real-time market data for trading analysis. For example, real-time stock prices are analyzed to bring insights to their customer base and help them with faster decision making on buying and selling of stocks.
2. Fraud Detection:
   Detecting fraudulent activity effectively in real-time becomes a breeze while using PostgreSQL. For example, credit card companies are leveraging PostgreSQL to analyze both data transactions and to detect anomalies in real-time, so as to help their customers take quicker actions on fraudulent or suspicious activities.
3. Risk Management:
   PostgreSQL is being used for effective real-time risk management analysis. For example, Banks use PostgreSQL to analyze real-time data on loans and credit lines to detect potential risks and take appropriate actions to better its overall customer engagement.
4. Advanced Analytics Functions in PostgreSQL
   PostgreSQL offers many advanced analytical functions making it easy to drive real-time analysis. For example, PostgreSQL’s window functions allow financial organizations to perform complex calculations on its data or large data sets in real-time, like moving averages and time series analysis – that too without the need to export the data to external tools, thus saving time and resources.
   As a result, by using PostgreSQL’s advanced analytical functions, organizations access deeper insights into their data and are able to make informed decisions in time. This helps improve financial performance, reduce risks, and provide a competitive advantage in the market.

In short, PostgreSQL is a powerful database choice that is being picked by top finance organizations today to power its real-time needs. Its support in streaming data and advanced analytical functions makes it an ideal candidate for future-ready applications serving trading analysis, fraud detection, and risk management. Leveraging PostgreSQL’s real-time analytics capabilities, financial organizations are now bringing an edge to their quick and insightful decision-making totally based on their own data.

At Ashnik, we have long been working with the BFSI sector in Southeast Asia and India to support various design, deployments and solutions for the digital-first era. Over 200 top organizations have availed our PostgreSQL consulting services, technical services, migration services, managed services, and training programs for open source technologies. 

Get in touch if you want to know how our team of experts can help build scalable and efficient solutions for you today!