Big organisations run big operations. Big operations are made up of many smaller operations working together in tandem – to produce a desired outcome. Today however, most of the bigger organisations have already implemented some or many types of systems to plan, control and monitor the numerous operations carried out. The single greatest benefit of a full digital transformation of operations to a large sized organisation is – the ability for business owners to visualise all business information in a single user interface – also referred to as a business dashboard.
The big ‘business dashboard’
While big organisations already have systems in place to plan, control and monitor operations, decision makers are unable to extract real-time insights due to the limiting factor – all organisational systems are not connected to each other and operations are siloed – which in turn, means a decision to implement a change in a particular set of operations may and can adversely affect performances of another set of operations.
For the sake of simple analogy; a business dashboard can be likened to that of a modern car’s dashboard. All systems that are critical to the uninterrupted performance of the automobile and safety of passengers is interfaced upon a specially designed heads up display to provide the driver with information relating to – how well the vehicle is performing and irregularities are brought to notice.
The importance of an integrated dashboard
In a recent white paper we published, Craig Anderson, Managing Director Cloud Operations at Mitra Innovation stressed on the importance of transforming an organisation towards digital by integrating all systems as one: “When all of your organisational systems are integrated, your organisation is geared to almost spontaneously respond to emerging situations with informed decisions. At Mitra Innovation we aim to help organisations and businesses reach this level of integration and decision-making”. The full white paper can be read here.
Isolate anomalies and resolve in real time
Digital organisations are enabled with real time insights to ongoing operations. The availability of – data streams converted into visualised information – helps decision makers swiftly identify problematic operations and take remedial actions to avoid long term impact. Similarly, decision makers are also able to identify opportunities and performance enhancers and make decisions to take advantage of such situations- aided by visualised information in the form of a business dashboard.
Computer aided decision making
In a competitive world, businesses can be just one bad decision away from total market domination to an undignified business collapse. Organisations that are first respondents to changing conditions will hold an edge over competitors who are slower to react. Digitally enabled organisations are equipped to recognise changing conditions and information systems can be modeled to react in real time by alerting business owners of impending changes in the business environment. With the addition of advanced computing techniques such as big data processing and machine learning, bleeding edge information solutions such as predictive analytics too are derivable from the wealth of information digitally enabled organisations are able to capture.
Internet of Things, Data Lakes & Machine Learning
Unlike data warehouses, data lakes are a form of electronic storage means that are capable of elastically accommodating all of the data that is streamed into organisational systems. Data lakes are highly adept and are capable of dealing with all sizes and forms of data. Data lakes are built upon highly scalable cloud technologies and can be designed to extract valuable information through the implementation of sophisticated machine learning techniques. The implementation of machine learning to feed off a data lake allows organisations to sift through large volumes of streaming data at a high rate of speed and derive intelligence in relation to incoming system data.
Predictive analytics as a derivative of digital transformation
With so much information at hand, easily accessible and analysable, predictive analytics can be run to identify the most appropriate course of action in foresight. Business owners are able to easily take notice of emerging trends and patterns, and make early and informed decisions. Use cases for predictive analytics are as follows: predictive maintenance schedules for manufacturing plants, identifying shopper preferences in the retail industries, harvest predictions in the agricultural sectors, win/lose predictions in the sporting arena and more.
Machine learning and artificial intelligence models can be applied to extract and deliver intelligence to owners of fully digital organisations. Complete digital transformation of organisations opens up the potential for business owners to use computing power to thoroughly analyse incoming data and consider all possible options and make strong, compelling, data driven decisions to further the success of their organisations.
Conclusion – Selling Praedictio
Praedictio is our very own machine learning based analytics and intelligence tool that is designed for enterprises and organisations that manage large volumes of data. Praedictio feeds off large volumes of data that is stored in data lakes or data warehouses to analyse trends, patterns and anomalies.
To request a demo – visit praedictio.mitrai.com
The early recognition of trends, patterns and anomalies can be used to help enterprise owners reactively or proactively make landmark decisions to further expand their business. Praedictio currently offers advanced features such as ‘Predictions framework for SMEs’, ‘data driven machine learning integrated with business softwares’, and ‘automate everyday business tasks and activities’. For more information about Praedictio and its capabilities, and how it can help your organisation, request a demo here.
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