Operational intelligence is an essential tool for lowering business costs in Australia, proving more effective than an unwieldy business intelligence platform. As part of an IT strategy, operational intelligence offers an alternative approach for leveraging business data, drawing on troves of information contained within the IT infrastructure behind all processes.
Let’s take a look at three key operational intelligence benefits and how using insights from this machine data can help lower costs across an organisation.
1. Stop Wasting Money on Expensive, Inefficient Platforms
Operational intelligence helps organisations reduce business intelligence costs. Business intelligence tools can be useful, but there is a risk of companies putting all their eggs into one analytics basket.
Plainly put, business intelligence doesn’t deliver enough insight on its own. According to an Aberdeen Group survey, 34 per cent of respondents are investigating operational intelligence platforms because they currently make too many decisions based on inaccurate or incomplete data.
Rather than investing everything in large-scale business intelligence efforts, consider reallocating project budgets into more cost-effective operational intelligence tools such as Splunk, to provide a fuller and more useful picture of business processes.
2. Mitigate Risk and its Financial Impact
The information contained within machine data indicates potential problems in IT systems. Realising the benefits of this level of monitoring depends on organisations having access to this information.
53 per cent of organisations see risk management as a top priority of operational intelligence efforts.
Operational intelligence is a window into this data, enabling proactive monitoring and preventative maintenance of crucial systems to prevent downtime. By conducting repairs before they are needed, organisations can eliminate the risks associated with these disruptions. According to a Ventana Research survey, 53 per cent of organisations see this risk management as a top priority of operational intelligence efforts.
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3. Reduce Costs Associated with Lower Performance
Inefficiencies are a financial drain, but organisations can find it difficult to locate more subtle areas for improvement. Operational intelligence provides a real-time look into underlying systems and processes, showing companies where repairs are needed.
Issues within IT systems – latency and other inefficiencies in particular – are hidden drains on productivity, but operational intelligence brings them to light.
Achieving Success with Operational Intelligence
Getting the maximum benefits out of operational intelligence depends on having strong company-wide support and the right tools. According to Aberdeen Group, 79 per cent of best-in-class organisations (the top-performing 20 per cent based on organic revenue, operating profit and cash flow) have strong executive-level support for operational intelligence, compared to just 58 per cent of other organisations.
Significant challenges are still ahead, including selecting an operational intelligence platform that fully addresses business goals and successfully implementing that platform within the company. Avocado Consulting can assist these efforts by identifying the right tools for your needs and guiding implementation. To learn more, contact us today.