How would a human body survive without a nervous system that constantly responds to external and internal stimuli?
How could a traffic controller perform without constantly sensing the traffic situation and reacting accordingly?
How on Earth could a candidate pass a modern job interview without knowing current affairs?
Advocates of modernization love to associate the word ‘data’ with every business problem. It is indeed true that data-driven decisions are the most practical and helpful decisions to prevent the boat from sinking. However, the pool of data is too huge to be managed by traditional analytical systems such as Big Data and Business Intelligence. Just like the human body, the traffic controller and the interview candidate, modern businesses also require a thorough (yet quick) analysis of real-time data that, when augmented with analyzing historical data, can provide the most rewarding solutions for the enterprise and make it sustainable in the long run. We are talking about the trend of Continuous Intelligence (or CI), and here we shall see what it can bring to the table in the context of business problem-solving.
Having access to an ocean of data is a double-edged sword, much like sailing through an ocean that cannot provide a single drop to quench one’s thirst when needed. Much of the data required by a business to solve everyday problems exist in silos, which has to be collated and prepared for a fruitful analysis. Moreover, gathering historical data eats up a major chunk of the time in itself. What businesses are left with is a time-consuming task of digging up data, cleaning it and then figuring out if the excavated matter is of any use to the problem at hand or not. Instead, it becomes easier if a system is trained well using past experiences and simply makes use of real-time inputs to address current problems. This forms the basic philosophy of Continuous Intelligence, a marriage of Artificial Intelligence and Predictive Data Analytics to solve business problems in a frictionless manner on the go.
Situational awareness has become a necessity of information systems across all enterprises. Gone are the days when a business would have a gigantic repository of historical data and wait for trouble to arrive, post which a group of analysts would sweat it out in wrangling historic (and often irrelevant and obsolete) data and present a possibly viable solution. Continuous Intelligence, on the other hand, enables a business to dynamically address problems in two ways:
In either case, a CI system makes use of both real-time and historical data to aid the business in decision making on the run with minimal wastage of time, money and human effort!
It is not for nothing that something generates a hype. Continuous Intelligence has its set of perks that its advocates and users duly recognize and leverage. Some of these benefits that CI systems bring to the table are listed below:
The business world understands the need to step up from traditional problem-solving approaches and make use of the developments in technology. Yet, not all businesses have the expertise to switch to newer systems, nor do they have the bandwidth to afford a business process reengineering project. As a result, it is challenging to adopt Continuous Intelligence despite acknowledging its basket of benefits. Having mentioned that, it is only fair to accept that we are all part of an evolutionary process and like everything else in life and business, problem-solving too shall come of age. The various benefits of Continuous Intelligence make it an ideal friend for every modern business to support it round the clock and enable it to serve its stakeholders smartly and efficiently.