- The Value of Real-time Metrics as Applied to Business Operations
- How Real-time Metrics Work
- Metrics-driven Development on the Rise
- A Path to Implementing Real-time Metrics for Operations
- Key Takeaways
- About David S. Linthicum
- About Librato
- About Gigaom Research
Businesses need mechanisms to gather and process data about system performances, information produced by a variety of devices, metrics around the use of social media, and much more. Many apply traditional data analytics to these problems. The reality, however, is that newer and more sophisticated approaches are required to get value from these real-time metrics in order to provide better business operations management. And companies must be able to integrate real-time operational metrics directly into business processes and applications.
In today’s digital economy, the timeliness of data can turn it from an artifact into an asset, and then into currency that drives business innovation, provides competitive advantages, and transforms data into incremental revenue opportunities. The value of leveraging real-time operational metrics has proven itself time and again, but finding the most useful approach towards applying it remains elusive for most businesses.
This report presents the emerging state of the real-time operational metrics market, including what it is, why it’s valuable, its ability to enhance agility, the enabling technology, and a path for planning and implementation that most businesses can follow. The focus will be on practical advice: How to understand, plan, and deploy this technology, as well as a stepwise approach to derive value from real-time operational metrics as quickly as possible.
Key highlights from this report include:
- Real-time metrics add value beyond traditional data analytics, ensuring that humans, processes, and applications have access to the right information they need to optimize business operations.
- There is much value to be found in leveraging real-time metrics in support of operations. Steps to gain this value include eliminating operational inefficiencies, understanding the value of business agility in order to make the right choices for operations and the business, and having near-perfect information for making business decisions.
- Figuring out where real-time metrics can exist in an organization is necessary. Businesses must construct a stepwise path to get there, starting with an understanding their operations’ requirements.
- Selecting the appropriate real-time metrics tools and technologies is crucial. Once requirements are understood, a proof of concept must then be created to determine how the technology best fits into existing infrastructure and applications. Also necessary to determine are ways in which the metrics will be externalized to those in an organization needing the information.
- Real-time metrics technology provides different values for different industries. The common patterns provide those who focus on business operations with the ability to determine trends within the business, in real time. In turn, they can adjust operations, correct issues, or even change aspects of the business, all based upon the real-time metrics that are displayed or metrics gathered over a longer period of time.
- Embedded-measurement gathering can benefit industries that focus on application development, and even those that focus on software products or cloud-delivered software products. It is essential for providing useful information to those who operate or build the systems.
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