Aug 9, 2021. By Aleena Mathew
To keep up with the pace in this current digital era forces business and IT teams to work together. But, most of the time, they fail in the proper collaboration. That is, there is always a big communication gap between both these teams. This lack of communication can lead to a situation where the IT team is not aware of the impact their operations can cause the business team. The majority of the time, these impacts lead to business loss. Even before the team gets a chance to remediate the situation, the loss incurred will be prominent. These communication gaps need to be addressed at the time of occurrence. Moreover, with limited visibility into the IT operation, the business team may take the wrong discussion that can lead too, application or service degradation, or any server failures, or any inefficient performance, and so on. Also, a research study shows that 92 percent of enterprises have partial or no integration between IT metrics and business value.
To overcome these situations, the business team and IT team require a medium for collaborating and communicating effectively. Thats where the concept of dashboards came into the picture. These dashboards stood as a medium of communication for the IT team and business team. But these dashboards did not keep the joy for long. With the evolvement to the digital era, IT teams lack to implement a proper analysis on the KPI. This eventually impacted the business value, as the dashboards were not capable enough to correlate a large number of IT KPIs to business value. Thus, with the current digital trends, the need for advanced and intelligent dashboards is a must. That's where the emergence of AI-based business value dashboards came into the picture.
AI-based Business Value Dashboard:
Organizations need a more intelligent holistic view of their business information and IT KPIs. This view enables the IT team to get proactive alerts if any issues occur. That's exactly what the AI-based business value dashboards are. These dashboards are capable of correlating multiple IT KPIs together along with business KPIs. The use of a business value dashboard provides CIO with a single pane of glass view of the organization's work, that is, correlating the business value and IT value. These AI dashboards are capable of providing deep insights into KPIs using AI analytics. Based on these analyses, if any abnormal issues are found, the system will proactively alert the appropriate team before the issue leads to a bigger problem. Thus enabling the team to track business and IT performance in one place with real-time analytics reports.
The need for Business Value Dashboards:
With the implementation of business value dashboards, IT operators were able to understand the risk impact of IT metrics on business. That is, IT operators were able to a get clear picture of how their changes can alert or change the business. Also, they can proactively judge and calculate the impact that will occur, thus, enabling the IT teams to work smartly. Apart from that, with BVD, CIOs can assess if the IT resources claimed are in proper use or not. That is, understand if any resources are underutilized or over-utilized. Thus justifying the ITOps spending on resources. BVD also enables CIOs to align business and IT value together, and also bridge the communication gap. Through custom integrations and graphing, you can find and review relevant information that will aid decision-making and improve business outcomes. Now, let us look into an example of how business value dashboards are useful in mapping business and IT value.
Example of Business Intelligence Dashboard:
Let us consider an organization that has a central application. The performance of this application is dependent on the business as the internal employees use this to perform the queries of their customers. The applications internal IT metrics and business value metrics such as apdex score(IT metric), revenue gained (business metric), and so on. All these KPIs can be custom-created and plated in the dashboard. When an IT operators views, he/she can see all application KPI is up and running, thus the business is not affected. But at some later point, a degrade in the application is noted, that is, the application metric score is reduced. Correspondingly the business value is also degrading. Thus indicating that the application is not useable by the employee. This situation is intelligently captured by the AI dashboards, and automatically an alert is triggered. This enables the IT operators to investigate further and resolve the issue before end-user reporting.
This scenario shows how effective the implementation of AI-based business value dashboards are. This enables CIOs to govern the entire organization in one single stretch, thus enabling them to map business value and IT value and calculate the ROI.
Algomox Cognitive Enterprise Dashboard is an AI-based business value dashboard, that automatically and intelligently captures and correlates every business and IT KPIs. Thus providing accurate, business value. To know more about the Cognitive Enterprise Dashboard, please visit our website at https://www.algomox.com/it-dashboard/