Many companies today are interested in using data to improve their business and customer experience.
Most of these initiatives ultimately leave a human in the loop, making decisions and implementing tactical or strategic business changes as a result of the reports, dashboards and analytics they are armed with:
Having this human in the loop brings the usual problems associated with manual processes, such as delays, errors, subjective judgements, and cost.
There is huge potential to take a subset of these business intelligence and analytics use cases, identify the situations of interest automatically, and automate the interventions as they happen in real time.
Each time we do this, we remove a human from the loop, avoid the problems above and deliver benefits such as a more efficient business and improved customer experience.
Three examples of this in action might be:
We refer to this as “closed loop” analytics. It is by no means as easy as dumping the results onto a report or dashboard and hoping the findings are actioned, but it’s much more powerful and much more likely to have a compelling business case.
Timeflow is differentiated by its ability to provide these closed loop analytical processes. We can listen to data from a range of source systems, identify the situation of interest, and execute the result as it happens whilst providing real time management information. We believe this type of intelligent, real time, closed loop analytics could be a huge step forward for businesses of all kinds.