01 December 2015 blogs 4 min read
When discussing the main benefits of ITOA, prevention is the word that occurs most often; indeed, when abiding by ITOA principles, companies can easily prevent mishaps like communication breakdowns or even server failures. But there’s another idea that prevails in discussing this matter: the efforts IT managers have to make in order to convince C-level executives that ITOA is a good investment. And we have to admit this isn’t always an easy task.
First of all, the two categories of managers often speak different languages; the IT manager raves at the idea that his systems will function optimally, but the members of the board need to know how exactly this brings revenue to the company. While bug data analytics preventing the company from losing money and helping it offer state-of-the-art services to clients and stakeholders all over the world are great selling points, there might be an even better one. Yes, there are ways in which ITOA can bring actual revenue and increase the profits of a company.
ITOA, the new approach to the age-old issue called “big data” brings more to the table than the ability to correlate and extract information from great volumes of data; due to the increasing number of monitoring tools that function across silos and operating platforms, ITOA and its predictive analysis capabilities can actually generate values from the data it interprets.
Let’s take the case of an e-commerce platform. Big data analytics allow such a company to see in real time whether people are shopping as much as they always did in a given period of time. If the sales volume falls beneath a certain threshold, the IT department is alerted and they can begin investigating if the drop has anything to do with a poor infrastructure performance. In the long run, such problems can be solved even without human intervention. Machine learning and machine to machine communication, coupled with ITOA and setting the right KPIs can improve a company’s sales greatly.
Avoiding costly downtime is not a mere whim for those whose businesses are online; it is a necessity. Of course, this alone is something that saves a lot of money, thus qualifying as a source of profit increase. But when predictive analysis steps into play, there is more than one advantage; knowing which are the best times to approach your customers with targeted campaigns or the times of day when leads are most likely to be converted into customers can help you adjust your marketing campaigns in order to spend less money and gain more clients.
It may sound ambitious, but leveraging the immense power that predictive big data analytics has to offer, this can actually be done with minimal human input. While small online shops find it very easy to pinpoint their customers’ shopping patterns, we cannot say the same about big companies, like Amazon. Dealing with that amount of data in a manner that produces actual value and insight that generates new business opportunities is not something that can be done manually and it’s not even something that can be done with old monitoring tools.
There are many benefits to implementing ITOA in your organization. A proper ITOA policy is not just an asset, but one of the fundamental pillars of a process through which managers can make faster and better decisions if they have access to correct, empirical, context-placed data, that is available at the right time.
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