Businesses are living in uncertain times. Continous disruptions and upheavals along with global shift toward massive digitalization, technology transformation, and evolving business strategies have challenged the very notion of decision making. Despite the fact that economies are gradually improving, enterprises are yet to gain a stronghold in the unpredictable markets. Their pressures are unavoidable – to improve the topline revenue amidst black swan events, increased globalization, ever-changing expectations of customers, rapidly evolving technological developments, and the war on acquiring digital talent. In the current scenario, traditional business operations are akin to swords used in a battle against nuclear weapons. The current imperative for companies is to regroup their resources, reassess their internal processes, and leverage digitization and data for meeting the new demands of the business operations.
The Changing Business Decision Making Paradigm
In this transformational phase, businesses have various options that could help improve their outcomes. Future-ready companies have steered ahead by leveraging digital technologies. Robotic process automation, smart analytics, ML, and AI are streamlining and accelerating daily tasks. These digital technologies are driving decision making using historical data and near-real-time trends. Through analysis of trends and collected data, organizations can attain situational awareness, which in turn enables reactive performance and preventive actions for an optimized operational experience. While this is a good beginning, the rapidly changing market dynamics will require enterprises to be proactive rather than reactive.
In this scenario, proactive measures such as automated systems with predictive capabilities can be a game changer. Enterprises are already seeking AI and automation solutions to enhance decision making. A favorable move would be to adopt a platform with intelligent operations.
Initializing Intelligent Operations with Next-Gen Operations Command Center
Given that data is the fuel for driving AI and automation, it can potentially solve any business challenge. From reducing fraud for insurance providers and personalizing marketing campaigns for retailers to weather forecasting for farmers and scheduling maintenance times for manufacturing plant operators. Combining historical and predictive data has given these businesses the power to enhance customer relations and boost the dynamics and efficacy of their operations. This power although only delivers such efficacy when the data is error-free.
For years, silos and continuously generated data delivered inaccurate insights and incorrect inferences, owing to the data quality. A survey reported that 87 percent of organizations considered data quality as a major barrier to successful AI implementation. As predictive operating models require good quality and complete data to derive accurate insights, performing routine health checks of the operational data is critical. Here’s where the Operations Command Center is useful. It can help companies identify the elements that can affect their growth and make adjustments accordingly.
Operations Command Center (OCC) is a platform that leverages real-time data and a predictive analytics model to provide actionable insights. It uses an AI-led decision making approach, in which ‘what-if’ predictions, alerts, and scenario simulations trigger the way forward for streamlining operations. For instance, in the event of a volume spike, the OCC automatically explores the reason behind the spike and recommends appropriate actions to manage it; such as deflecting the volume.
OCC leverages prediction algorithms and analytics techniques to consolidate varied metrics and variables. This allows for a more in-depth measurement process for performance analysis, risk assessment, and to identify future trends. Instead of solely depending on historic trend analysis, the predictive component of OCC ensures that businesses become proactive and make data-driven decisions.
For example, predictive analytics helps leaders predict future events and evaluate the attractiveness of different options before selecting the one that can help meet their strategic goals. This is a paradigm shift from the traditional business intelligence tool currently employed. It represents a paradigm shift where organizations are empowered with predictive insights at the core of their command center. So they can plan, explore, discover, and implement business intelligence roadmaps that are adaptable to their ever evolving needs.
With predictive analytics and real-time data, OCC provides a high-fidelity view of company operations. In fact, it makes looking into the future more reliable and accurate than ever before. The predictive capabilities integrated within OCC helps businesses optimize their operations and develop products, mitigate or prevent issues, reduce costs and risks, glean new opportunities, meet customer expectations, and gain a competitive advantage in the market.
Furthermore, OCC leverages root cause analysis (RCA) to identify the fundamental cause of problems, in order to determine appropriate solutions. The predictive analytics engine detects trends and forecasts events and conditions that could occur in the future. In addition to the routine data health checks, OCC takes preventive measures to avoid future disparities in the operational data.
This also allows on-time fault detection in the IT systems. Using a dashboard with spectacular visualizations, OCC delivers insights and directions necessary for expediting value creation. Be it for implementing comprehensive capacity planning and forecasting or customizing access controls. The enterprise can customize the platform according to their needs and requirements.
OCC also delivers in-depth intelligence reports and enable decision makers to identify the missing elements that might hamper enterprise growth and make changes accordingly. Also, the recommendations and inferences are automated to help the enterprise gauge the impact of the activities faster and ensure successful business achievements.
The Operations Command Center Advantage
Enterprises of all sizes can find a true ally in OCC. They can improve compliance and governance by using the platform to ensure near-real-time enterprise transparency. Teams can better control and manage any potential operational risk by using OCC to identify repeated patterns.
Added to that, OCC’s predictive analytics capabilities enable enterprises to address problems before they occur, thereby reducing escalations and unforeseen downtimes. In fact, OCC’s automated resolution system serves as the first line of defense and auto-resolutions. This results in better operational efficacy and efficiency. Teams receive actionable triggers and alerts after OCC analyzes the ‘what-if’ and simulated scenarios.
Finally, the combination of RCA, predictive analytics, and big data facilitate the OCC to segment customers based on past and likely behaviors. The real-time segmentation allows companies to quickly decide on customer experience enhancing aspects, thereby creating value for both the company and customers in the long term.
OCC’s standardized and statistical methods of analyzing the operational parameters enables it to deliver quick and quality outcomes. Be it for customer experience or the business itself. In the long run, intelligent platforms such as OCC will guide the enterprise toward a sustainable future with more holistic decisions, quick problem resolution, and happy customers.