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Travel & Expense

Real-Time Analytics and the Importance of Timeliness

on January 28, 2013
SearchBusinessAnalytics recently published a very timely piece entitled, “Real-time analytics brings BI data directly into business operations”. The article articulates how businesses can take advantage of analytics tools to gain strategic insights and drive real-time operational decision making. What we have been talking about as continuous analysis fits squarely into this camp; delivering these benefits. An evolution of business intelligence, real-time analytics can also be thought of as operational intelligence. However, this intelligence is meaningless unless it can be acted upon and acted upon at the right time. The important notion here is timeliness – you want the insight from the analysis when you’re in the position to act, at the point when you’re ready to make a decision.  The closer you get to driving insights to the frontline the more they need to be immediately digestible, it doesn’t need to be something that has to be interpreted, it needs to be in plain language, easy to understand. The logic behind the conclusion should be readily apparent so the human can add any value from the data they may know that the analytics didn’t. Read on for the full story.

Patrick Taylor

Patrick Taylor is an authority in the convergence of business analytics, information security, and the implementation of technology to boost organizational performance. An innovator in his field, Patrick founded Oversight Systems in 2003 and served as President and CEO for 15 years. In this role, he helped hundreds of Fortune 1000 companies improve financial, accounting, and auditing processes. Previously, Patrick held leadership positions with Oracle, Symantec, and Internet Security Systems (ISS). Patrick has a bachelor’s degree Mechanical Engineering from Georgia Tech and an MBA from the Harvard Business School.