Fast Innovation Beats the Best Model

Driving immediate value in your IoT Analytics Initiatives is not easy.  If you are finding it difficult, you are not alone.

IoT involves huge volumes of data that is usually moving at great speed. Making sense of all this to gain actionable insights and ultimately business value is very complex.

The Innovation Cycle is a core concept of Vitria’s IoT Analytics Platform and is based on three foundational ideas that reinforce each other to stimulate rapid innovation and accelerate the creation of business value:

  • Leverage real-time analytics and data to jumpstart model development and refinement
  • Learn by doing. Enable rapid deployment and continuous refinement of models
  • Accelerate your learning/value by expanding the pool of contributors and innovators via self-service tools

Introducing the Vitria IoT Analytics Innovation Cycle

IoT Analytics Innovation Acceleration

  1. Building the Model – The basic concept is that you should develop a reasonable good model and put it into production as soon as possible so that you can start gaining real world data and experience.  Avoid “analysis-paralysis” and create a basic model that you can execute quickly.  Leverage machine learning over historical data to create a model quickly.
  2. Running – All models get smarter faster with real experience.  Therefore, operationalizing your model quickly and putting it into production where you can start gaining real life data is essential.
  3. Monitoring – Measuring performance and observing if the model lives up to its predictions allows you to understand how reliable and useful your model is.
  4. Refining – Evolving and refining your model based on situational data and contextual data while identifying irrelevant data is fundamental to the improvement process.

 

Vitria’s IoT Analytics Platform – The Key to Rapid Innovation and Generating Business Value Quickly in IoT

Vitria’s IoT Analytics Platform was consciously architected/designed from the start to accelerate innovation and business value for IoT.  The Innovation Cycle concept is at the core of the platform. Here is how it works:

1) Model quickly with self-service visual modeling tools that everyone can use – expanding the pool of contributors/innovators

When it comes to actual model development, Vitria’s visual self-service tools simplify and speed up the modeling process.

  • The self-service visual KPI analytics app helps business and operational level professionals – non-data scientists – define their key performance metrics. This empowers operational leaders, business analysts and others that are responsible for driving business outcomes to create models; allowing for an unprecedented level of experimentation and innovation. This lowering of barriers dramatically expands the pool of contributors and fuels innovation.
  • At the same time, the Vitria platform is both powerful and open, making it easy for you to quickly import PMML (predictive model markup language) models or leverage other data technologies such as R or Spark.

2) Run/Operationalize quickly without complex technical work or coding

Vitria’s platform is unique in that it allows you to operationalize your models quickly without any coding.  In keeping with our self-service approach, you don’t have to deal with time-consuming, complex configuration methods.  Our graphical interface and system makes it easy to start running your model in a production environment where you can assess its performance against real-world conditions.  Our leverage of real-time data and analytics further accelerates the operationalization process.

3) Monitor real world experience to gain immediate feedback

A model is only as good as its real world predictions.  Monitoring is needed to understand if it is reliable and useful in predicting events and outcomes.  Monitoring with Vitria is made easy because the platform provides a set of tools to capture the real experience and outcomes of the predictions and set the stage for improving your model.  With Vitria’s platform, it takes you very little effort to see if your model is reliable and living up to its predictions and outcomes.

4) Refine and rapidly iterate to continuously drive better business outcomes sooner.

Lastly, the Vitria platform allows you to easily refine and continuously improve your model by adding important new situational and contextual data at the same time eliminate old or less relevant data.   Situational information like customer responses and weather data provide insight into what is happening right now. Contextual information like sales history or machine configurations is important to provide understanding of various scenarios and possibilities.

When combined with our self-service modeling tools, easy operationalization and visual monitoring tools your ability to leverage analytics at lightning speed provides you serious competitive advantage.

Leverage Vitria to get Value Now from IoT Analytics

Start gaining value from IoT analytics today.  Contact us to discuss ways you can get started generating actionable results…much faster than you thought possible.

Click here to contact us today!

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