If you’ve been hearing the phrase “operational intelligence” lately, you’re probably interested in learning more about what many have said is the key to improved performance and visibility for supply chain operations. But what is operational intelligence and what does it mean for your business operations?
According to Ventana Research, operational intelligence is 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.” In other words, the operational data that you’re already generating can be turned into actionable information through advanced analytics solutions.
Now, this may sound very time consuming, complex, and of course, expensive, but at TeknaByte we know that there are a variety of benefits to be found in using operational intelligence. Today, we will share with you a few of the biggest benefits of using operational intelligence so that you can take full advantage of what it provides.
We know that when it comes to implementing a new system into your everyday business operations, you can’t afford to waste time on the implementation process. Luckily, operational intelligence is implemented easily! Advanced, purpose-built solutions such as operational intelligence are easier to integrate into already existing processes. It is also easier to navigate due to the inclusion of user-friendly automations. With these solutions handling the complex nature of collecting and analyzing data, you’re free to take action on the results!
Helps to Cut Costs
With operational intelligence, you’ll no longer find yourself having to purchase inefficient business intelligence (BI) tools or expensive event processing systems. That’s because today’s open source technologies are well-equipped to process large volumes of data outrageously quickly. As a result, software as a service (SaaS) solutions are readily available for implementation. This saves you not only time but money!
Operational intelligence allows real-time visibility into your operations, which affords the opportunity to more accurately predict transit times in order to plan shipments for more accurate on-time arrivals, boosting the performance of your company. With greater insight into your everyday supply chain operations, you will be better equipped to forecast future outcomes and improve overall performance in various areas of interest.
Helps You Stay Competitive in the Market
Operational intelligence is equipped with crucial advanced machine-learning capabilities. This means that your operational intelligence will get smarter and smarter as more data is gathered over time. Thanks to this technology, you can better identify opportunities for some improvement to internal processes as well as for external partners using more evidence-based cases.
Improves Customer Experience
Operational intelligence can also directly impact customer satisfaction and overall customer experience. Take Verizon as one example of this. Verizon deployed operational intelligence systems across multiple departments where they created over 1,500 dashboards for employees. In doing so, these dashboards pulled data from customer support chat sessions. Using the data they gathered, Verizon was able to identify various areas where they could improve the customer support experience and reduce customer support calls by a total of 43%!
Increases Organizational Efficiency
Another top benefit to using operational intelligence is found in the fact that it provides businesses the ability to access data and gain a more holistic view of their business operations. This, in turn, grants business owners the ability to benchmark their results against a larger organization where specific areas of opportunity can be identified.
When organizations are able to spend less time on compiling reports and analyzing data, operational intelligence gives them more time to use data to innovate new programs, services, and products for their business.
Greatly Reduces Risk
Finally, operational intelligence greatly reduces risk for your business. It does so by preventing operational disruptions as well as mitigating the risk of loss or damage to more high-value goods with real-time visibility and proactive identification of locations that are particularly high-risk.
Let TeknaByte Help Operational Intelligence Work for You!
After reading the various benefits associated with operational intelligence, we’re willing to bet you’re interested in implementing it for your business! At TeknaByte, our experienced IT consultants are well-equipped to help you implement and maintain operational intelligence systems for your everyday business operations. Contact us today to learn more about what operational intelligence can do for you!