Data-enabled innovation has gone into overdrive during the pandemic, as organizations seek to exploit all information sources they can lay their hands on in new ways. And the most successful companies have been achieving high levels of customer satisfaction by making relevant data accessible to the people who matter – frontline decision-makers. The lesson is that agility and resilience from now on require more key people to have faster and easier access to insights, business intelligence (BI), predictive analytics and visualizations – all based on the most current information available from inside and outside the organization.
But a problem remains.
As data volumes have grown exponentially so have the silos that hold information, holding back new and better ways of working and improved decision-making. Despite all the talk about integration, businesses now face cloud application silos on top of the separate departmental systems they may already struggle with. In financial services, for example, rapid silo-growth has made it tough to implement risk and compliance models that are as fast and thorough as they must be.
Expanding the Capabilities of InterSystems IRIS®
Now the solution to remove these brakes on innovation and agility has arrived. Working with AtScale, we have successfully combined our expertise and technology to develop InterSystems IRIS® Adaptive Analytics, a solution that extends and expands the capabilities of our data platform. This potent pooling of data excellence enables today’s non-data-specialists to get the access to analytics, BI, and visualizations they need, and on a self-service basis.
Adaptive Analytics combines our existing InterSystems IRIS capabilities with new functionality that makes that data explorable by decision-makers. This reduces the strain on IT to provide the answers to questions from the business, eliminating the delays associated with the back-and-forth between the business and IT. It builds on the ability of InterSystems IRIS to remove barriers to on-demand connectivity between silos, empowering the line of business with the information it needs, in the moment.
It means frontline users gain access to the data they need, when they need it, using the tools they prefer without complex back-end disturbances. The range of sources can span the enterprise, its suppliers and partners, and external data sources. This is now as much about attaining effective, fast connectivity between silos as it is about managing the volumes of data within them. Once achieved, connectivity realizes the network effect, simplifying data architecture across different domains.
Advantages of Adaptive Analytics
The advantages of InterSystems IRIS and Adaptive Analytics are far-reaching. In financial services, for example, where disparate data systems inhibit streamlined decision-making, managers can make an accurate decision on a credit request much faster and with far greater autonomy and confidence. In supply chain, managers can react to supplier or logistics disruptions in the moment, minimizing the impact to schedules and deadlines.
Adaptive Analytics is a major step forward in the democratization of analytics, bringing together complementary technologies to solve the critical last-mile problems that still act as a drag on many organizations. It puts powerful tools in the hands of business managers, enabling them to make better decisions that can impact the business.
To find out more about accelerating business insights, listen to this discussion I had with AtScale on Adaptive Analytics.