Unlike traditional business intelligence, which often relies on historical data, operational analytics focuses on the immediate, offering a live snapshot of processes, activities, and key performance indicators which can be used to make forward looking decisions.
Deploying operational analytics like this has huge untapped potential to make businesses more efficient, drive revenue growth, reduce costs and improve the customer and employee experience. Specific benefits include:
Operational analytics grants businesses a front-row seat to their operations in real-time. With live dashboards tracking crucial metrics, organisations can respond swiftly to changes, identify emerging trends, and make strategic adjustments on the fly.
Operational analytics serves as a compass for optimizing processes. By identifying bottlenecks and inefficiencies in real time, businesses can streamline workflows and allocate resources more effectively. This not only improves productivity but also reduces operational costs.
Operational analytics goes beyond current operations; it delves into predictive analysis, forecasting future trends and challenges. By analyzing historical data, businesses can make informed decisions, anticipate market shifts, and proactively position themselves for success.
Identifying cost-saving opportunities is a perpetual goal for businesses. Operational analytics facilitates this by providing insights into resource utilization, enabling organisations to cut unnecessary expenses, minimize waste, and achieve cost efficiencies without compromising quality.
Data Driven Decision Making
Decisions made on gut feeling alone are a thing of the past. Operational analytics empowers businesses to base decisions on solid data, providing a robust foundation for strategic planning. This results in more informed, confident, and ultimately successful decision-making.
Unfortunately, traditional tools and approaches to data and analytics do not scale to deliver solutions like this.
There are too many delays in the process, and the systems often used are not performant enough to process high volumes of data with low latency. In addition, traditional business intelligence tools are not rich and flexible enough to meet the business demands.
This technology stack needs to be re-invented for the cloud, with tools and architectural patterns that are built for real-time advanced use cases and predictive analytics:
We are Ensemble, and We help financial services businesses build and run sophisticated data, analytics and AI systems that drive growth, increase efficiency, enhance their customer experience and reduce risks.