On Firehoses, Windows, and Business Rules: Towards a Successful Fast Data Organisation

Due to the enormous growth of data and the increasing speed at which organisations are required to respond to it, Fast data is the latest trend in data science. In this study, we set out to answer the question what Fast data is and how organisations can deal with it in a successful way. We define Fast data as: the ability to gain insights from (near) real-time data streams and derive value from these insights. We argue that successful Fast data organisations are built on four pillars: (i) technology, (ii) strategy, (iii) culture, and (iv) skills & experience. We conclude with a critical discussion of our results, for instance touching upon whether Fast data is really ‘new’.