Gartner Inc. has stated that around seventy percent companies imparting high performance will implement extreme collaboration or real-time predictive analytics to manage business processes by the year 2016. IBO or intelligent business operations have proved to be an effective technique for the improvement of business processes.
In IBO, processes can learn from a variety of interactions and situations occurring around them. On sensing the situation, analytics comes into the picture which can either be applied on-demand or actively and hence predict outcomes of several potential changes.
IBO and performance of companies
According to Jim Sinur who is research vice president of Gartner, business people can immediately garner the effects of integrating business operations with real time analytics. This is because such an action changes how people do their jobs.
One of the greatest changes that results is the increased visibility of running of the company as well as its external environment. Such integration will also equip managers and other individual contributors with situational awareness incorporating in them better decision-making skills.
Due to these changes, organizations which employ real-time decision making and analytic capabilities will prove to be high performing than the rest. The results will be reflected in superior customer service, cost reduction, risk avoidance and revenue growth.
Gartner added that there will be at least one area in every business that will require the application of active analytics or real-time analytics.
Reasons for popularity of IBO
IBO has been becoming more popular and practical due to a number of reasons. One is the proliferation of sources for business event data. The other is the improvement of complex event processing, visualization, business application management, optimization, BPM rule management as well as software tools.
Sinur added that automated or human actions can be relied upon to derive the desired results. Knowledge workers can help in this regard to a great extent by collaborating around a process to bring about the desired change. Organizations have been focusing on identifying processes which have potential for higher performance including processes like intelligent prescription management and intelligent fleet management.
Gartner said that intelligent business operations will prove to be a differentiating factor in the high performance of companies in both established and new industries. The research firm said that IBO will be the key for the evolution of differentiating processes.
The popularity of IBO will definitely escalate intelligent technologies and the many methods that surround them. This will comprise of various combinations packaged to address any type of problems. The combinations may be of business rules, event, social collaboration, visualization software, dynamic processes, analytics etc.
Gartner advises organizations to assess their likelihood in adopting IBO for processes which will lead to their investigation of various technologies that will help them implement intelligent business operations in the coming two years. The organizations were also advised to keep an eye on their competition whether they are implementing IBO to gain an upper hand.