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By Kali Bagary | 15 January 2019 |

Tech Trends 2019: 1 of 5: Augmented Analytics

This year’s Gartner report on technology trends provided some very valuable insights. 2019 will see the dawn of some newer technologies such as Edge Computing, continue expanded use of current innovations such as AI and bring further collaboration of various devices and platforms such as multiple data sources (IoT, online platforms etc) to offer smarter environments for people – in both the home and workplace.

Embracing these new solution offerings will inevitably change our daily lives – rather than taking over as many have feared in the past, these systems will enable us to live and work more efficiently.
Over the next few months we will be looking into the key findings from this report and discuss some finer details of actual use.

The first topic – which is predicted to become more prevalent in the coming years is Augmented Analytics.
Essentially:


  1. Automated algorithms that will enable data to be segmented on upload rather than mass uploads which require manual review and segmentation post upload
  2. Intelligent analytics. Having greater data capabilities will result in more accurate data, thereby producing better reports on which management can base key decisions.

In fact, the Gartner report estimates that by 2020 40% will have data tasks automated.

Data analysts will love this. Not only will it save time and costs, it will also improve data mapping as diverse systems are integrated into a single platform, it will also provide better raw data for slicing and dicing into various reports. Report generation will rise to the next level both in terms of accuracy as well as providing more realistic and error-free in-depth insights.

Developers will love this too as it will take application development to the next level. Having the ability to deliver a solution as per the specification faster will save numerous businesses time and money. Accelerated development is something innovative solution providers are offering today, which makes the future even more exciting as these innovative businesses will benefit from future developments more – the result? Better service delivery to their customers.

Here’s an example of augmented analytics that we have recently worked on: a global document system that required sign offs from two separate businesses for compliance purposes during a massive construction project.

This meant unifying two different document systems from two separate companies. A single platform solution was delivered rapidly, which provided the following functionality for the project:

  • Created a secure central data repository
  • Provided configurable business process workflow
  • Validated existing and new data
  • Offered web-based accessibility
  • Ensured version control
  • Enabled user friendly search engine
  • Met compliance standards

As the project kicked off a data mapping exercise was conducted. This resulted in data being analysed as it was uploaded. The resulting analytics for the document management system was set up within a workflow process. These steps included elements such as yes/no rules which would trigger events.

EXAMPLE ‘YES’ trigger: if a document received a digital authorisation, then notification would be sent to the next level of required authorisation

EXAMPLE ‘NO’ trigger: if a document did not receive a digital authorisation, then the same person would receive a follow up notification chasing the required signature.

Additionally, augmented analysis triggered further events to automatically create and send out update reports to relevant stakeholder who would have insight into the project status.

The benefits of augmented analytics really do speak for themselves:

  • Time savings: no more loss of project data, documents and authorisations
  • Cost savings: £100k from the annual stationary budget
  • Comprehensive audit trails
  • A professional project management solution enabling real time status review
  • DSJVs business processes and templates integrated into solution
  • Intuitive dashboards and search engine making it user friendly
  • Accessible to all stakeholders in this project via a web based portal
  • Easy to configure to DSJVs requirements – using DSJV look and feel
  • Quick implementation with light maintenance
  • Regulation and compliance reporting in line with government requirements

If you would like to learn more simply get in touch with us in a way which suits you best: add a comment on this blog, send us a message, call us 01494 546 089, email us at info@techfinium.com or visit our website: www.techfinium.com

Who are we?

TechFINIUM is a leading trusted software and solutions provider. Our aim is to enable businesses to efficiently manage business critical processes, corporate governance and compliance - globally.

We are proud of our team of highly experienced & well connected professionals, who have been successfully delivering business solutions across diverse technologies and in multiple industry sectors.

Our particular expertise is in the financial services and insurance sectors.

Along with this, we are able to call on our extensive network of consultants, partners and associates to augment our delivery capacity. TechFINIUM currently has operations in the UK, South Africa, and India.

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