Intelligent enterprise – What it is and its importance for next-gen business?
In the world today where digitization is the new way to business success, CEO’s and CFO’s are striving hard to drive an affluent digital transformation into their organization. With the companies leveraging the power of different technology gadgets, the competition in the market is thriving with all of them raising the bars.
Keen business and competition analysis, understanding the customer needs, easing business operation by robotic software, or creating data-driven business plans, the next-gen businesses world that is a decade from now will have the capability to hand over the complete business operation in the hands of the robots
But what does this newly coined term “Intelligent Enterprise” mean? Why has it created a buzz in the market?
Well, let’s find out!
What does the term Intelligent enterprise mean?
“Intelligent enterprise” is a concept that involves leveraging all the modern technologies and to coordinate and work for an enterprise to make the business 3X more powerful than ever before. Today companies are using many cloud-based technologies into their businesses like AI, IoT, blockchain, Big Data and many more, each of these tech gadgets is aimed to create profound business changes by improving the speed and efficiency of the company.
However, Intelligent enterprise is not a product but a modern-day strategy for businesses to acquire themselves with intelligent technology solutions. It’s a profound approach where human and machine-generated information is analyzed and differentiated to convert information into profitable business actions with the combined efforts of various technologies.
Now let’s understand what does this modernized framework comprises of;
How does it work? – The Framework
There are various aspects that combine to make a successful company. Cloud-based technologies take care of each of these aspects like getting real-time insights into the market, customers, and business operations also while keeping up with improved employee experience with business automation.
The intelligent enterprise leverages each of these technologies to help its workforce focus on tasks that yield high-value outcomes. But to implement such an advanced system into the enterprise, there are few components that are to be taken into considerations. Below is the list of the same;
- Intelligent applications: These are the smart applications that automate the daily business operations to increase efficiency and productivity of work and have better interaction with employees, customers, and various business entities.
- Digital platforms: It’s a computing platform or environment that collects the data and coordinates the data for integrated applications to help them improve or extend the processes into the application.
- Intelligent technologies: These are the technologies that use collected data to find patterns into it to predict outcomes and suggest some actionable items that can help businesses on a daily basis.
These 3 components when implemented and worked into coordination could help the business to improve its power to sustain in the changing market conditions.
Moreover, apart from this, there are various more considerations that come along if an enterprise is planning to implement an Intelligent enterprise concept, like;
- Ensuring data are processed based on urgency and relevancy.
- Building a common master data unit, domain models, and platforms to create an end to end integration of the processes
- Implement augmented intelligence systems to smoothen work for HR, IT, finance, and marketing departments.
- Hire industry experts to understand the insights collected from data to make it better in the context of the business to improve performance.
- Implementation of intelligence into core business solutions can help businesses to avoid creating separate data lakes for every process.
IE helps create connections between various business divisions, this helps it to analyze the company performance in real-time and thus the decision-makers of the company instead of doing guesswork or being emotional can give out decisions that are backed by some facts and well-analyzed data.
There are many more advantages that IE enterprises would bring with their intelligent setup.
Advantages of IE to the business world
Relieves employees from mundane tasks
With the business automation tools and other IE elements coming into the picture, most of the mundane tasks like maintaining or collecting the daily important data will be taken over by the machines. This will free up the employees to divert their focus on other important aspects of the business which they find interesting and have the scope of having professional growth.
This will also ease their work process as they just need to have some buttons clicked before getting into a researched-based task in their routine.
Faster adaptation to change business metrics
The world is developing at a speed of light. For a business to survive in the everyday changing trend or to remain ahead in the competition might need the power to change the business policies, operation work process in a matter of time. Well with humans that might be time-consuming, but with intelligent machines adopting these changes in algorithms can be a bit easier as they have the ability to track patterns to understand what to change and how in no time.
Redefine customer experience
With more of the data being analyzed by machines, the brands get the opportunity to have a better understanding of their customers. Like the algorithms are available to trace and analyze customer preferences and buying patterns.
Knowing customer’s needs would help the service provider have an idea to personalize the service based on the customer and enhance their experience with the brand to increase customer retention.
Improves business efficiency/productivity
It’s very obvious that the work done by machine would be done faster in comparison to the same work when done by humans. This saves time for employees to work on high-value outcome tasks.
Moreover, the intelligent data analysis done on the collected data and the insights collected from it is of great help for decision-makers to make efficient and highly profitable business plans as this analysis is done keeping in mind the risk factors and while also considering the opportunities it would create for business to thrive in the market.
Today’s world is all about being smart, whether it’s about smart technologies, smart gadgets, or smart steps or moves. Business owners all around the world are in a dilemma about how they could create a flexible environment where changing the business metrics could be easier with the changing trend.
The intelligent enterprise is the answer to them all, as it’s a new development strategy or a framework that combines the strength of various smart technologies to empower businesses and prepare it for future demands and challenges in the market.
Author Bio :
Parth Patel is a serial entrepreneur and CEO of SyS Creations – a leading managed IT services firm focused on technology-driven healthcare solutions and telemedicine app development with a customer-centric, journey-first approach. Operating the IT Infrastructure of Healthcare SMEs and startups keeps him on his toes and his passion for helping others keeps him motivated.