The AIOps Market was valued at USD 13.51 billion in 2020 and is projected to be worth USD 40.91 billion by 2026. As this industry continues to expand, IT leaders have to communicate AIOps benefits for the business to leadership.
Yet, this is easier said than done oftentimes. According to a Gartner report, in 2021 about 75% of AI projects will remain at the prototype level as experts and organizational functions cannot engage in a productive dialogue with leadership teams.
In response, here are five ways that AIOps benefits and provides value to an entire organization – not just the IT department. And, yes, revenue accumulation is one of them.
1. AIOps tools benefit collaboration across the enterprise
Data silos are a common problem for many organizations and a source of inefficiency. A data silo collects and houses information for one group, and is not shared across the enterprise.
When only certain groups within the organization have access to data, it slows processes down. Additionally, it doesn’t provide a full picture of an issue to all. This creates bottle-necking and could lead to misdiagnosed errors on a system.
In contrast, AIOp tools boost collaboration, workflows, and bandwidth within IT groups. In breaking down data silos, AIOps makes data available for all teams to analyze and monitor. This, in turn, leads to faster identification and resolution for any errors while increasing productivity.
Furthermore, it also extends into the rest of the organization. With customized reports and dashboards, teams across departments can understand their tasks and requirements quickly. Not only that, AIOps tools down data silos and bolsters inter-departmental conversations that drive better business metrics.
2. Propels digital transformation
Companies seeking to enact digital technologies across the enterprise should start with AIOps. The IT department often leads change management in digital transformation and adoption. As with any strategy, companies that start implementation in a small sector of their organization will be more successful with a tiered approach to AIOps maturity.
This adds business value by saving time and effort so staff can focus on innovation. Additionally, it provides end-to-end visibility into infrastructure and applications. This includes a security overview and analysis, which we expand on more in the next section.
3. AIOps, a first-line of defense
Due to its capabilities to organize and isolate events in massive datasets, AIOps has long had the potential for reaching into cybersecurity. As a bridge between IT operations and security operations, AIOps boosts system uptime and reliability. Here’s how:
One scenario is detecting application performance issues. AIOps sifts through thousands of data points and constantly learns how to resolve and respond to various events inside of a given dataset. With visibility into security data, AIOps can detect foreign data causing issues that could be linked to a cyber attack against the underlying server.
That point of recognition would immediately trigger a defense process. In contrast, traditional tools would play these anomalies out as performance issues, not security threats.
This is only one example of how AIOps can be the first line of defense for cybersecurity. Going even further, AIOps could shut down a server that’s under attack or shut off access to a storage system that is compromised.
4. Improves service delivery and performance monitoring
From the standpoint of the IT department, AIOps provides constant monitoring and performance analysis as well as forecasting and resolution of issues (sometimes before they even arise).
While this benefits the IT operations team by releasing them from constant monitoring, it also benefits the end-user experience.
It enables IT personnel to respond to larger ticket items that require more human interaction or they can resolve issues quicker, for instance. This in turn produces a better end-user experience as customers and internal teams will either 1) not know about the issues because AIOps resolved them) get an immediate response from the IT support desk.
Ensuring a seamless customer experience with predictive analytics is an important business objective.
5. AIOps reduces costs and improves ROI
Yes, AIOps saves organizations time and resources! Businesses realize improvements by decreasing mean time to repair (MTTR).
Automation removes repetitive manual tasks from the plates of the IT team and puts the team in a better position to serve higher-level enterprise needs. In this way, organizations optimize the overall capacity of their teams with both increased output and cost savings.
Don’t take our word for it though. Check out the case study below to find out real facts and figures on the benefits of AIOps in cost reduction.
Case study: The economic impact of AIOps
A large financial service institution cut its MTTR by 40% in the first six months after implementing AIOps, leading to greater availability of customer-facing services and greater revenue for the business.
At the level of cost, the company reduced its tool sprawl by 50%, from over twenty tools to fewer than ten. This decrease in tools led to millions of dollars saved in the following ways:
- Reduced license fees
- Lowered cost of maintenance and operations of the tools
- Reduced complexity in the tool ecosystem.
Implementing AIOps as an evolution
Businesses can no longer survive without technological advancement – that much is clear. So, IT leaders need to make it very clear to leadership teams that AIOps is a way forward towards digital transformation and staying relevant.
The enterprise-wide benefits of AIOps are clear: It provides better communications, breaks down silos, equips your IT teams to better respond to customers and end-users, and provides an avenue for tech innovations. This is an important strategic stance that elevates a business by improving performance, visibility, and availability.
Start conversations with your leadership team about everything AI for IT operations.