July 18, 2018
For some decades now, small and medium sized companies and large enterprises have relied on Business Intelligence tools to identify key business insights and implement new strategies. BI tools that have been in the market since mid 90s help an organization to analyze raw data to improve and optimize business decisions and performance.
Operational Intelligence is the next generation of Business Intelligence. Thanks to the digital revolution, managing a business today has become more complex, more global and more dynamic. Real-time visibility and true managerial control has become quite a bit of challenge. Operational Intelligence solutions have the ability to analyze fast-changing data in real-time and take some automated action. This takes Business Intelligence to the next level and creates amazing new opportunities.
What is Operational Intelligence?
According to IT analyst company Ventana Research, Operational Intelligence (OI) can be defined as “a set of event-centered information and analytics processes operating across the extended organization that enable people to take effective actions and make better decisions.” Operational Intelligence is a form of real-time dynamic, business analytics that delivers visibility and insight into business operations. The operational data that a company is already generating can be transformed into actionable information through advanced analytics solutions.
For a business organization, using Operational Intelligence(OI) can be helpful in a variety of ways. OI solutions run query analysis against live feeds and event data to deliver real-time visibility and insight into business and IT operations. This real-time information can be acted upon in a variety of ways: alerts can be sent, business processes can be triggered and executive decisions can be made and implemented using live dashboards. The real-time monitoring capabilities of an OI solution help organizations to take immediate action.
Why use Operational Intelligence?
Operational Intelligence solutions help to perform many important business processes automatically and efficiently. It can carry out the following tasks:
Real-time data handling
The digital transformation in the last few years has given birth a lot of unstructured and semi-structured data coming from new sources such as machines, sensors, logs, and social media. OI solutions can capture and process data in seconds or milliseconds from multiple sources. It can handle machine data, sensor data, event streams, message queues, and other forms of streaming data and big data.
Advanced analytics
Operational Intelligence is made up of advanced technology. It has superior analytics that have the ability to link and correlate related events, regardless of their origins or latency. This enables an OI solution to discover problems or opportunities that merit immediate attention.
Business visibility
Analyzing both real-time and latent data, OI solutions provide complete visibility of business entities and situations. It can help to monitor departmental performances. Since traditional software is not broad enough to capture all facets of an organization, it may sometimes overlook the under-performance of a certain department. With OI solution, the real-time monitoring makes sure that all departments work smoothly. This provides business benefits holistically.
Continuous insights
Operational Intelligence is capable of predicting both threats and opportunities, and it also recommends the best possible actions to tackle each. By using OI solutions, a business is always ready to handle a threat or opportunity in a way that makes the best use of business objectives, while also ruling out any possibilities of risk.
Timely action
When using a Business Intelligence or Operational Intelligence tool, the information derived out of it is only helpful when it is implemented in a timely manner. OI solutions can provide immediate feedback to complex data. OI solutions work in tandem with your business objectives to fulfill analytics-driven automated processes and workflows.
If you want to avail these benefits of Operational Intelligence, switch to EasyReports. An easy-to-use powerful BI tool with complete Tally integration, EasyReports provides your business with complete reporting and accounting solutions. To know more, log on to www.easyreports.in