Markets and customer requirements change with increasing dynamics. At the same time, products, ranges and supply chains are becoming more complex. In order to remain competitive under these circumstances, a high degree of information transparency is required, which has so far often been achieved with BI tools. Now there is a new option: real-time business monitoring. But what are the differences between these two approaches?
Retrospective analyzes are no longer sufficient
Traditional BI (Business Intelligence) analyzes company data retrospectively. Typically, past data is retrieved from sources such as a data warehouses. The results then form the basis for business decisions. In the meantime, the relation to the past of BI data has become a problem. After all, the general economic conditions today require a quick reaction to current circumstances. In numerous scenarios, an immediate reaction to internal and external events is even essential. This is where real-time business monitoring software like Caduceus comes into play.
React to events immediately – thanks to real-time business monitoring
Real-time business monitoring is an innovative approach that enables the monitoring of significant events in real time. The underlying idea of so-called event processing is not new. Most of the time, however, they were individually programmed solutions with little flexibility. Solutions like Caduceus, on the other hand, belong to a new generation of “event processing”. They are standardized and aim for the continuous, immediate processing of numerous events. In addition, modern real-time business monitoring can establish relationships between the events at high speed.
Active notification as a further plus
Caduceus Business Monitoring not only enables companies to immediately illuminate every important fact and change. It can also actively inform users about relevant issues. For this purpose, the software automatically sends notifications about defined events using the push principle – for example, by email or SMS. Even without permanently logging into dashboards, this ensures that employees in the company never miss an important event.
Advantages also in the implementation
Another strength of Caduceus is the quick and easy implementation in existing environments. Existing systems do not have to be changed. Rather, the solutions collects all relevant data directly from the sources by using adapters. These can be, for example, ERP systems, WMS solutions or individual databases. The data is then converted into a technology-independent format. All of this happens in real time.
Every new or changed data record is therefore immediately displayed in the dashboards. In addition, an immediate notification can be made when defined parameters change. The data volume plays a subordinate role in all of this. Modern real-time monitoring solutions have no problem even with large amounts of rapidly changing data.
Individual dashboards with real-time KPIs
Like classic BI, real-time monitoring solutions like Caduceus include visual dashboards. Individual visual and content adjustments are possible with both software categories. Different diagram types and counters are available, for example. The main difference, however, is that KPIs always reflect the latest version in the real-time version. This ensures that decisions are made at any time with reference to the present.
Conclusion: faster decisions, greater success
There are still business areas in which a weekly or monthly look at past-based KPIs may be sufficient. In processes that are directly related to the market or customers, however, agility is increasingly required. Real-time business monitoring is more than just the consistent further development of traditional BI, it can undoubtedly be seen as a key technology. Caduceus – the future of BI.