Decision Advantage leads to Competitive Advantage
In today’s connected world, enterprises are swimming in an ocean of events and data. These signals–generated within the enterprise and connected to external parties and systems—must be monitored and assessed for risk or opportunity to the enterprise. Real-time situation awareness (SA) and predictive intelligence are needed to make rapid, informed decisions and respond to changing dynamics in the marketplace. The consequence of overlooked scenarios or delayed response can be catastrophic for the enterprise. Cyber threats, insider threats, IoT operations, operational safety and other risks can quickly manifest into cyber breach, reputation damage, increased insurance premiums, lost market share – all affecting the organization and the bottom line.
Enterprises have realized that they can’t just hire people to get ahead of the problem: They need smart solutions and processes that better utilize their current staff to get left of harm or to capitalize on opportunities. Organizations are transforming data signals to insights that enable faster, more informed decision making through the development of continuous intelligence applications. This decision advantage leads to competitive advantage.
With the emergence of Unified Real-Time Platforms (URP) that incorporate event streaming and real-time analytics technologies, Continuous Intelligence (CI) solutions offer an effective response to these challenges. A CI solution must have the right balance between automation and human-in-the-loop (HIL) in providing real-time SA, real-time analytics, and decision support. These enablers help the staff focus on the right challenges (risks or opportunities) and ensure that the best intelligence is made available to the decision makers.
Cogility has developed Cogynt, an URP architecture for CI, that amalgamates multiple data sources and performs behavioral analytics to deliver real-time SA, predictive analytics and decision support at cloud scale. Cogynt enables an enterprise to have rapid, high confidence, predictive insights allowing decision makers to make informed decisions in the most complex time sensitive situations.
This blog defines Continuous Intelligence and how it can serve as a force multiplier within an enterprise in delivering accurate and timely insights for effective decision making.
Cogynt – A URP Platform
Cogility’s Cogynt URP for continuous intelligence comprises five essential elements of continuous Intelligence, with the human as a central element ensuring the results are valid and the context is clear when presented to decision makers, or when acting on automation results.
The 5 essential CI elements are:
- Event Stream Processing are software systems that perform real-time or near-real-time calculations on event data “in motion”.
- Real-time Analytics based on Hierarchical Complex Event Processing (HCEP) detects patterns to generate higher level, more relevant summary data (complex events), while performing continuous risk assessment leading to informed insights and actionable intelligence.
- Decision Augmentation/Automation/Support provides effective situational awareness, automated notifications, event validation and workflow support.
- Business Process Integration allows for other systems and applications to be easily integrated.
- Accounting for Human factors to ensure the users (analysts and decision makers) are effective and efficient in performing their tasks which is achieved through a combination of automation and intuitive easy to use analysis tools that eliminates low-level and less productive tasking allowing the analyst to spend more time on what is important.
Cogynt URP Platform is a Force Multiplier
The Cogynt URP can be characterized as a force multiplier allowing organizations to easily scale and agilely respond to changes providing valuable contextualized intelligence without the significant engineering and operations expertise and overhead required to build an in-house architecture to support continuous intelligence application delivery. The impact of Cogynt can be expressed in terms of:
- Efficiency – greatly improves the utilization of staff by focusing on the real problems (highest risks or opportunities), greater throughput, and faster decision making.
- Capability – continuous and stateful understanding of all entity risk (opportunity) with system generated notification that is auditable. This greatly increases confidence in the risk (opportunity) assessment.
- Impact Amplification – by empowering the analysts and decision makers to develop real-time, contextualized and auditable intelligence. This positions the enterprise to be more competitive, resulting in improved bottom-line performance.
- Reduced Cost and Risk – with a proven, complete URP solution, organizations can realize CI advantages at a lower total cost of ownership while reducing operational, delivery, and enhancement risks.
Continue to read part 2 of this blog to learn more about continuous intelligence and Cogynt’s HCEP capabilities.
