Predictions are clear. Soon insight and action won’t be enough. Operational analysis is gaining momentum in more and more organisations, and algorithms are taking over what used to be human-driven tasks.
’Isn’t this old news?’, you ask. Well yes, almost everywhere you go you interact with technology and algorithms that take a number of variables into account and process custom outcomes.
What is new is the application of predictive analysis in sectors that rely heavily on human skills like interpretation and judgement. In a recent post we discussed the notion of multiplying the successful decision making powers that lie within your organisation.
However, taking it a step further allows for automating operational processes. By analysing operations and designing algorithms based on the outcome, you will be able to automate what used to be human-only workflows. In fact, a Harvard Business Review stresses the rising importance of implementing operational analytics and designing algorithms that ‘make’ decisions for you.