If you’re familiar with the classic three Vs model of big data — that’s high volume, high velocity, and high variety — you’re also aware that big data means much more than simply stockpiling petabytes of information. The ability to analyze data streams in near-real time is essential, too, and a variety of tools is emerging to fill this need.
One such tool is ParStream, a real-time database for big-data analytics. Its developer, an enterprise software company also named ParStream, is based in Cologne, Germany. It was founded in 2008 by Michael Hummel and Jörg Bienert, the firm’s CEO and CTO, respectively. In a phone interview with InformationWeek, Hummel said the big-data marketplace is changing rapidly as organizations begin to see the value of “fast data,” the ability to analyze data nearly in real time. He also called Hadoop overhyped, but acknowledged that the open-source software framework has become a de facto standard of sorts for big data.