Do you still find yourself visually monitoring dashboards for anomalies? That leaves catching revenue-related issues to chance. It’s become humanly impossible to catch incidents on streaming data. This is why many eCommerce and data-driven companies have adopted automated anomaly detection.
Having spoken with many companies, I’ve learned that while they all monitor their application performance, infrastructure, product usage, conversion rates and a variety of other user experience parameters, very few monitor the actual transactions from their payment provider.
“If you can’t measure it, you can’t improve it” …this quote by Peter Drucker and the philosophy behind it is a key driving force behind modern management and the introduction of BI solutions to support the scaling and increased complexity of businesses. Analytics tools were developed to enable metric measurement and business monitoring across large scale, complex systems and to enable continuous improvements of business performance.
Welcome to the new year and a new decade! We’re sorry if you were hoping for “new year, new jokes.” But new glitches, we’ve got plenty of.
Number of sessions, total sales, number of transactions, competitor pricing, clicks by search query, cart abandonment rate, total cart value…the analytics tools commonly used by eCommerce companies for performance monitoring can’t include every metric, and even if they did the analysts using them wouldn’t be able to keep up with the amounts of changing data.
Today’s business needs make it virtually impossible to function without relying on an extensive network of partners and third-party providers. An IBM study found that 70 percent of businesses were looking to increase their external partnerships.
An emerging field of data science uses time series metrics to develop an educated estimate of future developments in business such as revenue, sales, and demand for resources and product deliverables. A forecast is based on historical data of a given metric plus other relevant factors. Accurate forecasts are an important aspect of corporate planning.
As a company known for our anomaly detection, we know a thing or two about spotting irregularities. So as we reached the end of 2019, we couldn’t help but think back on the 2010s and the anomalies that shook the world. Once we got to listing them, it really became tough to pick just 10. Ultimately, after much debate, we ranked them based on their impact, newsworthiness and how utterly unexpected they were.
The busiest shopping season of the year was chock full of glitches, aggravating harried shoppers and business owners alike. Did your X-mas gifts get diverted, delayed, or returned to sender due to a glitch?
Rapid software release is the new norm – and that has pushed many companies to ditch their monolithic software development approach in favor of SOA. More companies are embracing microservices – an SOA-style approach for developing and deploying business logic as small, independently deployed services – for a number of reasons: it reduces risk, is faster to deploy and it easily scales.
