Anodot, the autonomous business monitoring company, continues to enhance its product by providing high-performing companies with two new tools to measure the impact of anomalies on business operations and flag relevant alerts during reoccurring but shifting events.
- The Business Impact Alert functionality provides a visual indication that gives companies insight into how much an anomaly is impacting a company’s bottom line.
- The Influencing Events functionality helps companies define recurring seasonal events that shift on the calendar, like spring and summer holidays. Anodot can contextualize historical data around the events and accurately identify anomalies that happen during those time periods.
Businesses are flooded with constantly changing thresholds brought on by seasonality, changing habits due to the pandemic, and promotions that feature new product rollouts. With information siloed and scattered across the enterprise, manual monitoring fails. Anodot’s Business Impact Alerts and Influencing Events use advanced artificial intelligence and machine learning that can autonomously adapt to changes, creating real-time, actionable alerts on business incidents and the fastest mean time to resolution (MTTR) in the industry.
Business Impact Alert Functionality
This new feature allows enterprises to prioritize alerts based on the incidents’ impact to the business. When setting up an alert, companies can assign a monetary value for each metric they monitor, and future alerts will show how much the anomaly has cost. This allows the business owner to quickly calculate the cost of an incident and prioritize when to address it. Minor incidents can be tackled when the team has free time, whereas major incidents are immediately assigned for remediation. The prioritization based on business value enables enterprises to focus on what truly matters.
Influencing Events Functionality
Recurring events such as Black Friday or religious holidays like Christmas, Passover, or Ramadan affect the business in predictable ways, but the dates are not the same from year to year. When businesses don’t have the opportunity to put these events in historical context, their business monitoring tools create false positive alerts, wasting resources and disappointing customers. Anodot learns the behavior of the metrics around the previous occurrences of the event and updates the baseline for the upcoming event, taking into consideration the previous influences based around that event. The algorithm will recognize which behaviors repeat themselves. Once that has been accomplished, businesses will only see alerts for anomalies that are not associated with the seasonal event.
“Businesses need monitoring tools that can quickly identify issues that impact the customer experience and protect revenue,” said Ira Cohen, co-founder and chief data scientist, Anodot. “Our Business Impact Alerts and Influencing Events feature only alerts customers on issues that directly affect the business, preserving resources that would otherwise be wasted investigating issues that do not require remediation. These tools can be maintained and understood by the business owners, which allows them to create metrics that are specifically relevant to the business, eliminating a flood of unnecessary alerts.”
“We’re interested in using Anodot’s Business Impact Alerts to automate a complicated process we used to manage in-house, which would free up significant resources for us,” said Christina Velzo, director of business intelligence at Ask Media Group. “With Anodot’s platform we can analyze high volumes of traffic across multiple metrics, spot anomalies and take action right away, reducing any potential downtime or business risk.”
Anodot’s Business Monitoring platform uses machine learning to constantly analyze and correlate every business parameter, providing real-time anomaly alerts and forecasts in their context. Fortune 500 companies, from digital business to telecom, trust Anodot’s patented technology to reduce time to detection and resolution for revenue-critical issues by as much as 80 percent. Anodot is headquartered in Silicon Valley and Israel, with sales offices worldwide. To learn more, visit www.anodot.com and follow them on LinkedIn, Facebook, and Twitter.