To be competitive, or even stay relevant, many business enterprises across a range of industries are embarking on their digital transformation journeys. In doing so, they seek to improve revenue numbers, save costs or deliver better user experiences – or, perhaps some combination of these factors. Achieving these goals requires addressing core fundamentals of the business which are found in action every day within the processes that serve all the vital functions within it. How we handle these processes and how we manage the data that is their lifeblood makes all the difference.
Technology advancements combined with the need to keep up with an increasingly digital world have created massive amounts of data. Data proliferation can quickly overwhelm business owners if it is not controlled and put to work. Disruptions in the business world and beyond, such as a global pandemic add a wild range of uncertainty.
How do businesses become more resilient to these external uncontrollable disruptions? How do they take advantage of unprecedented quantity of data within a business and from beyond? How keenly do they need to watch every transaction and every event that their business is a part of?
One approach is to monitor your business using continuous intelligence. Gartner describes continuous intelligence as “a kind of real-time analytics being applied to operational and executional decisions.” It is about being always on, and ensuring that decision making can be as dynamic as possible.
This means we need to go beyond the traditional boundaries of business intelligence (BI). For decades now, BI has been the primary strategy for decision making and action. However, BI has its limitations and companies using BI alone will not be able to retain their competitive edge. BI defines more of a macro view on a business’ data sets, and is often a “snap-shot” of a point in time. Often report driven, this intelligence is based on occurrences that have happened in the past to better assist decision making aspects for the future. Operational intelligence (OI), on the other hand can provide detailed and dynamic decision-making with a more in-depth view of the operations that make up any process in an organization. Almost by definition, it embraces the notion of “continuous intelligence.” Monitoring events relevant to your business, it ought to provide ongoing business insight that leads to actionable recommendations and optimized decisions. OI is most meaningful if it is also real-time such that the most relevant and up to date solutions and optimized strategies may be applied.
Using highly intuitive tools, business users can design storyboards in the OpsVeda platform that represent transactions, exceptions and their status. They provide broader insight into a business’s financial performance and long-term growth trajectory. Storyboards can be personalized for different types of users in your organization, such as sales, customer service, and manufacturing teams. Through the Exception Builder, users can set and alter parameters used to separate transactions that have exceptions from ones that do not. OpsVeda’s platform solution and its fine-grained permissions capability enables everyone to simultaneously take their cues from the same data set.
The security of enterprise data is of paramount importance. The one-way encryption of passwords, strong password policy enforcement, single sign-on with SAML/Kerberos, SSL encryption for data-in-transit, and three layers of encryption on DR storage, SAS 70 standards, are but a few of the measures OpsVeda’s platform takes to ensure security, confidentiality, and privacy. In terms of scalability, in-memory processing of all data ensures that users get analysis in real-time, regardless of the volume of data.
Having OpsVeda’s solutions can be instrumental in improving the efficiency of a company’s supply chain. The ability to satisfy customer demands more effectively through using this platform can give way to lower operating costs and greater sales capacity for new customers.