Predictive analytics can address a range of business issues, says Bradshaw of Damovo
8 December 2015 | 0
There is a significant change happening in business forecasting methods which can give Irish organisations much better insight and control of their IT infrastructures. This is a shift from historical tracking and projection to predictive analytics. It applies a range of analytical forecasting techniques to sets of data to work out scenarios that are most likely to occur in the future.
In many respects access to all relevant data has been and probably still is the number one challenge to predictive analytics. Ownership of historic data, privacy concerns and lack of management buy-in are other common obstacles. Data access can be overcome by working with systems owners to hand over data by putting in monitoring software for a period of at least three months to build up data sets and a digital footprint. After just this short period it is possible to draw a clear picture for managers and start making predictions based on these findings. On the other hand, obviously, the longer the continuous data streams are in place the more insights can be gained and verified.
Damovo works with enterprise customers by putting monitoring probes onto their networks and then analysing the resulting data using sophisticated analytics tools. Smart analytics allows our customers to make more informed management decisions about their technology and business requirements for the future. This is a collaborative process and often requires several iterations to get a complete and accurate view of requirements. We aim to formulate the right solutions by utilising our own in-depth knowledge and experience of voice and data networks together with the customer’s domain knowledge and business strategy.
Often we then model alternative scenarios to look at the resources and financial requirements to deliver a solution that has a solid business case. In that way our clients feel more confident in making their future investment decisions because the justifications and returns are fully understood.
Predictive analytics are ideal for organisations with complex ICT environments where control may be an issue. The predictive analytics approach will help to gain clarity and control.
“Smart analytics allows our customers to make more informed management decisions about their technology and business requirements for the future. This is a collaborative process and often requires several iterations to get a complete and accurate view of requirements”
One of the most common maxims in analytics is ‘the more complex the better’ i.e. the more data sources the better. But linking several data sources in order to gain insights can be a challenge. Damovo overcomes this by using the latest software tools to produce highly visual outputs that help our customers to understand what is actually going on now and the most likely future outcomes. A picture is worth a thousand words.
Because we are specialists we use smart forecasting techniques that are directly geared to our area of domain knowledge, i.e voice and data networks. The broad experience of our network engineers and managed services experts adds value and expertise to the monitoring tools when interpreting results and providing forecasts. The results enable our customers to ask more focussed questions by getting answers quickly and visually. All in all, we believe the approach of combining sophisticated analytics with depth of experience enables our clients to improve their processes, make better investment decisions and ultimately grow their businesses.
Mary Bradshaw is managing director of Damovo Ireland and Damovo Global Services