Wed, February 08, 2017 | Tom Fountain
Realize the Potential of Automation and Analytics with Pneuron
Making new business processes easy to implement, transparent, and flexible
It can be challenging to improve complex business models and processes when you’re juggling data availability, staff experience, regulatory requirements, and business priorities. These vital factors must inform your strategy if you expect a successful improvement initiative. Most businesses choose one of two routes — they try to break down transformation tasks into small chunks, or they take a leap of faith with an emerging strategic technology that’s unproven in the real world.
Dividing the project into simple components with clear functionality, time, and cost attached is an appealing approach that really cuts through the complexity. Initially, everything seems more manageable, but as the project progresses decision makers lack the big picture insight required to make the best choices.
The promise of new technologies is always exciting, but you don’t know how well they’re going to work until you apply them to real-life situations. Early adopters are the ones who must work out the kinks and so frustration, long program cycles, and budget overruns are common.
All that hope and hype often gives way to disruption in the workplace.
Successful transformation is about balance. You must balance people versus technology, fast versus slow, and incremental versus revolutionary. The right balance depends entirely on your company culture.
Let’s look at investigations, for example. High quality investigative processes are vital for many businesses, from anti-money laundering, to fraud, to cybersecurity. They all require the integration of data from disparate internal and external sources, expert human knowledge, and proven practices to be successful. Perpetrators are adopting ever more sophisticated techniques, and regulatory pressures are building, so any solution must have the capacity to continually learn and improve.
All investigations have a lot of common elements. When an incident or case is created (itself a highly complex undertaking) a series of actions unfolds including: case assignment; background information gathering; information assimilation; analyses; case evaluation; disposition recommendation; and documentation with final review and action.
Two new technologies currently making waves are robotics and artificial intelligence, but neither is a panacea for the problems facing businesses. Robotics can help you to eliminate repetitive tasks through automation, making data gathering more efficient, but without analytics you’re shifting a heavy burden onto human analysts to interpret all that data.
AI promises to reduce the need for human analysis by applying complex algorithms that dispense with the need for human judgement. However, these systems are not yet capable of coping with analysis of multiple disparate and often divergent data points, while observing strict regulatory obligations, and factoring in local business practices in a landscape of evolving risk. They need time to observe and huge data sets to evolve. They also tend to be closed systems, offering no visibility into, or control over, how they learn or what they have learned, which can make it tough to answer questions from regulators.
How Pneuron can help
With Pneuron you can leverage automation and analytics in one cohesive platform. Pneuron enables organizations to rapidly configure and deploy business solutions, and to reconfigure them quickly based on feedback and evolving challenges. This is a highly accessible, single screen approach that can cover multiple deployments, giving you oversight of the entire lifecycle of your project.
Each individual pneuron is a visually configurable service. Put pneurons together to build business workflows that accomplish your goals. The breadth and interoperability of the Pneuron library enables you to mix and match data access, analytics, logic and results to create the functionality you need. It hooks directly into databases, applications, data services, and other sources or destinations across your business to give you all the choice you need to solve specific problems.
Because Pneuron is an agile, flexible, and workflow-oriented platform with the ability to leverage diverse types of analytics, there’s scope to accelerate learning for continual improvement. The potential of automation and analytics to improve your business efficiency is enormous and Pneuron offers the best of both worlds.