Data in context, in motion, in real time
Today’s businesses are faced with a growing volume of IT data (enterprise), OT data (operational), XT data (external), and data from the Internet of Things (IoT). In fact the “smarter” an organization gets, the more data that pours in from devices, meters, sensors, and from the IoT, adding to the mass of data scattered throughout the organization. That data is stored in spreadsheets, documents and various repositories.
According to industry analyst, Forrester Research, only 12% of an organization’s data is ever analyzed. A significant reason for this low data usage is that the data resides in disparate systems that often form silos of data that make it difficult or impossible to manually collect, correlate and interpret data. When humans cannot understand data in large volumes and/or high velocities decisions are made without the benefit of insights. Or even worse, decisions are deferred temporarily or permanently. Uninformed and untaken decisions cause inefficiencies, sub-optimal productivity, avoidable waste, higher costs, and increased exposure to service level misses, penalties and risks.
Many organizations have one or more business intelligence products at their disposal. However considering the data usage and analysis statistics reveal that the majority of an organization’s data is neither analyzed nor used to drive decision-making suggests that those products do not meet organizational decision-support needs.
Context for business and operational decisions
Enter situational intelligence, a proven approach to uniting data from across an organization and providing the context needed for fast, confident decision-making. Situational intelligence is about correlating, analyzing and visualizing disparate data, and identifying, out of a massive amount of data, the assets, issues and resources that require attention. Data from enterprise (ERP, CRM, etc.), operational (meters, devices, sensors, etc.) and external (weather, social media, fires, etc.) systems is accessed, analyzed and presented to users to bring attention to, and facilitate an understanding of, a situation that requires decisions to be made and action to be taken.
Examples of a situation:
- A storm is approaching. What assets, equipment and customers will be affected? What steps should be taken to prepare for the storm? Who should be notified of potential service disruptions?
- Assets are aging and need to be replaced. Which assets should be replaced first? Which assets can be maintained instead of replaced? Can replacement be deferred for some assets without increasing risk? Which assets are most critical in the network?
- Sensors attached to vehicles are producing useful information. Which vehicles are going too fast? Which vehicles are behind schedule? Which vehicles are going to be slowed by conditions ahead of them? Are more efficient routes possible?
Situational intelligence provides 360-degree insight into these situations, arming users with the understanding of what, where, when, why and how the situation occurred, is occurring now, or might occur in the future.
Transform your operations with situational intelligence
Organizations in a range of industries around the world use situational intelligence to reduce risk, increase safety and asset reliability, improve productivity, ensure regulatory compliance, raise customer satisfaction, lower costs and create new revenue opportunities. Examples of how these businesses are utilizing situational intelligence to make fast, confident decisions include:
- Anticipate and respond faster to unplanned service disruptions
- Accurately match variability of customer demand with available capacity
- Identify and proactively rectify high-risk assets
- Optimize asset and network performance
- Detect theft or fraud
- Perform root-cause analysis to determine why assets failed
- Prioritize operational tasks based on financial impacts
- Proactively inform customers of service delays or failures
- Improve cross-functional collaboration and communication
- Optimize personnel schedules under constantly-changing conditions