Digital transformation has been an ongoing trend over the last decade, but the pandemic has accelerated this to new heights and at an unprecedented pace. COVID-19 continues to function as an accelerator of already growing trends, including the need for companies to embrace digital tools. Brands are focused on becoming more capable across all their business units, by providing customers and employees with enhanced data and digital applications. The need for agility has, perhaps, never been greater.
So, how do companies go about achieving agility to thrive and succeed in a demanding environment?
One route is through improving their processes by using an operational intelligence system which monitors processes end-to-end, and then provides optimal recommendations based on live and stored data. Here are the top things to look for when selecting the right operational intelligence system for maximum value for your enterprise:
Offers Real Time Data Availability and “what if” ability
The best platforms will offer data in real-time or near real-time, depending on business needs. Access to this information provides continuous process monitoring and real-time analysis. Staff across the company can visualize an accurate picture of various transaction systems at any point in time because that view is informed by real-time data. A solution that is customizable and has the ability to deliver on “what if” analyses without resorting to error-prone manual processes boosts enterprise agility tremendously.
Enables Predictive and Prescriptive Actions
Look for a solution that does more than apply simple rules to offer possible outcomes. Top-tier operational intelligence platforms will use algorithms and machine learning to instead offer prescriptive options. These function as early warning mechanisms to spot and rectify current or impending problems. Armed with this intelligence, your team can improve multiple business areas including sales, distribution, sourcing, and manufacturing.
Moves Your Company Beyond BI
Business Intelligence (BI) platforms may not be able to cover all the intelligence needs a modern company might have. True operational intelligence solutions go past the latency and rigidity of BI by providing continuous intelligence covering all operations across the enterprise, thus effectively serving as an early warning system.
Integrates the Power of AI
A solution that offers a domain-aware AI-powered data discovery agent offers teams an easier and more efficient way to take advantage of the actionable intelligence being delivered. Using natural language processing and understanding, the platform should make it easier for users to drill deeper by predicting users’ needs dynamically and then provide detailed information about what is required to meet those needs.
Automate Decision Making
The best systems in this space will help you determine which actions and decisions are the best candidates for automation. They will identify the areas that provide the most efficiencies gained, greatest cost reductions, or even where the top line can be positively impacted. Once these areas are selected, then the system could deploy bots in the appropriate system to address them in an intelligent manner.
Brings Rich Business Content
Your ideal operational intelligence system is one that also brings a set of rich business content such as process-oriented solution packages, and apps that can help locate and take advantage of opportunities to further minimize risk and enhance margins. A track record of having served enterprises is a strong indicator of the effectiveness of the software. The system should be one that has a good history of having worked with processes across industries and in a range of environments. It should be one that can address a range of concerns whether it is a need for end-to-end monitoring and tracking, or delays and high cost of manufacturing.
Works Well with Others and Has a Successful Track Record
It’s important to work with a provider that uses open-source technology to help limit disruptions and achieve superlative results. Your best bet is an operational intelligence system that is built to work within any data landscape, so your team can focus on results instead of worrying about replacing any existing systems.
Companies that want to transform their operations and remain competitive in a post COVID-19 world can achieve their digital transformation objectives by injecting a healthy dose of agility into their operations. A well-equipped and vetted operational intelligence system gives companies a better shot at it by offering real-time visibility into the entire range of their operations and processes, so they can make informed decisions for success.