“Data-driven” is an attribute many organizations would like to be able to apply to their business processes, but in reality, actually achieving this designation can be quite difficult.
Data has become a critical asset as companies of every size accelerate their digital transformation initiatives and increasingly rely on analytics to drive business decisions and outcomes. However, managing this data well and extracting the right information from it can be a costly and time-consuming endeavor for most organizations.
The Trouble with a Traditional Approach to Data Analytics
The traditional data analysis process doesn’t encourage thorough exploration or make it easy to take a deep dive into data patterns and relationships. In fact, it doesn’t matter whether you are a stakeholder, a subject-matter expert, or a data scientist; the traditional approach to data analytics makes it difficult to get the maximum value from your data.
In many organizations, data analysis and exploration take a similar trajectory:
A subject-matter expert wants to look at relevant data to answer a question, so they export the data as CSV and start exploring. If the subject-matter expert is using Excel to view the CSV file, the process is cumbersome and lacks in-depth pattern prediction and visualizations.
Alternatively, the subject-matter expert finds the data to be completely overwhelming because much of it is unstructured, or it comes from many different systems, or there is just so much of it, so they pass the data along to data scientists to handle.
The data science team frequently causes a bottleneck because they are always busy, and traditional analytics are time-consuming. This drives up the cost of the project because data scientists are an expensive resource.
When the data scientists finally compile reports on the target data, the potential value of the analysis can be limited because the data science team lacks the context of a subject-matter expert. Missing context impacts how the data relationships and patterns that the data scientists identified can be applied to the subject-matter expert’s original question.
How Virtualitics Immersive Platform Can Take the Pain Out of Data Analytics
This is where Virtualitics Immersive Platform (VIP) can help. With VIP, subject-matter experts can take control of their own data analytics and unlock key actionable insights that were previously hidden within the data.
VIP’s AI-driven data analytics and multidimensional visualization platform provides groundbreaking insights into your company’s most complex data with the click of a button—no data scientist required.
Immersive data analytics eliminates siloed operational knowledge, so every stakeholder and every subject-matter expert can understand and utilize the data and its implications to achieve key business outcomes.
For example, one sustainable energy provider wanted to improve its ability to identify and understand equipment failures. With physical and digital assets spanning wind and solar power, energy storage, backup critical power, cooling, and industrial automation controls, this company supports some of the world’s most mission-critical facilities, so equipment failures and downtime come at an extremely high cost.
VIP was able to characterize the equipment failure using no-code embedded AI and multidimensional visualizations, which enabled analysts to quickly identify why failures were happening. Traditional approaches would have taken hundreds of hours without the same results.
In short, VIP’s anomaly-detection algorithms revealed the root cause of high-temperature operational malfunctions that required excessive servicing, costing more than $500,000 per year in downtime and energy losses.
Additional interactive data exploration in 3D allowed wind farm engineers, analysts, and operators to visualize and identify the key driver for underperformance in their equipment: The OEM-designed cooling system was underpowered relative to the wind turbine designer’s recommendations.
Without VIP’s immersive visualization capabilities, this energy provider would have spent countless hours and dollars trying to isolate the root cause of issues stemming from multiple sources.
When to Use Virtualitics Immersive Platform
As some organizations dig deeper into their digital transformation initiatives and others seek out ways to automate and streamline performance management, they are quickly discovering that their traditional analytics tools limit their ability to base critical business decisions on hard data. Flat, two-dimensional modeling simply isn’t sufficient for today’s complex, multidimensional data sets and intricate analytics.
If you are questioning whether to make the leap to an AI-driven data analytics platform, here are four ways you will know for sure when the time is right to shift your data analytics to VIP’s immersive and interactive solution:
1. You need to leverage powerful insights.
VIP’s easy-to-use AI routines and multidimensional visualizations enable all users to easily find anomalies and trends that can be used to drive business decisions and influence business outcomes.
Subject-matter experts and stakeholders can explore the data themselves with AI assistance. This allows powerful new insights to be found within the data because VIP blends artificial intelligence with subject-matter expertise and business knowledge, a combination that isn’t possible with traditional data analytics.
2. You need to make sense of unstructured data.
Through VIP’s GPU-accelerated network graph capabilities, formerly unseen relationships are uncovered within your unstructured data.
These visualizations can automatically build interactive reports on trends, anomalies, and patterns existing within these otherwise intimidating data sets, which increases the speed at which decisive action can be taken.
3. You need to save time and money.
VIP is more efficient and cost-effective than traditional data analytics solutions, so you get more valuable and actionable data analytics while also saving your organization time and money.
With our smart mapping tool, users can select a key performance indicator and VIP will instantly rank the most influential metrics to show you how they affect your target data. And with GPU-based processing, VIP renders and computes results up to 100 times faster than any other business intelligence tool.
4. You need to communicate clearly and collaboratively.
Teams and stakeholders are more distributed across geographies than ever before. VIP helps bring teams together so they can collaborate in real time via desktop or VR.
VIP builds a common language when communicating about data and analytics that is rooted in visualizations rather than code, tables, spreadsheets, or other flat file types. These multidimensional visualizations, which include features such as size, playback, filters, and halos, drastically improve your storytelling capability and eliminate the need to send flat files back and forth.
There’s No Time Like the Present to Supercharge Your Data
Virtualitics is a leader in artificial intelligence and immersive visualization for analytics, which allow users to enhance and automate data exploration faster and more efficiently than ever before.
Virtualitics Immersive Platform breaks down the knowledge barriers between data scientists, subject-matter experts, and business leaders by making powerful, proven AI-driven analytics methods accessible to everyone. Contact us to learn more about VIP and start your free trial.