Design Real Time Streaming with Azure

I am in process of designing a real time (15 sec latency) data streaming system.

Please share your thoughts on Pros and Cons for below scenerio.

I have to replace SAP Connector with Azure Tech stack with lowest latency for process data, as shown in pic below .

which Component in Azure Stack best to replace SAP Connector.

2nd scenerio:

can we directly connect Stream Analytics with Azure SQL DB, or will it be fine connecting with service bus queue and function app. as shown in diagram.

There will be multiple data source to be connect to system.

My Doubt is Is this solution is scalable and cost effective or shall I go with different approach.

Which all area I should focus before do the system design.

Please share your expertise suggestion.

Thanks