Updated: May 6
RelayiQ is thrilled to announce our latest release, our first gaining the added resources and firepower of being part of Astreya! For those new to RelayiQ, it is a machine learning-driven BI automation tool designed for the future of business intelligence. The old days of investing hundreds of thousands of dollars into BI to gather, prepare, and analyze data only for it to hit a dead-end in some dashboard that nobody uses are over. We redesigned BI to be proactive by combining machine learning and automation, a process Gartner is calling hyperautomation, their most important strategic tech trend for 2020. With hyperautomation for BI we can:
Detect important changes in data and KPIs
Prescribe customized action plans
Notify those who should take action
The new 2.0.05 release improves all phases of RelayiQ’s powerful hyperautomation software. Let's look at some of the most important improvements across each phase for this release.
Detect - Advanced outlier detection with AI/ML!
No matter what data and metrics you are tracking, there will likely be times where it spikes up or down to a degree that requires human intervention. For example, a sales pipeline drops below the amount required to hit the end-of-year target, or the quantity of a given part required to manufacture your product is dangerously low in stock, or your R&D spend may have spiked exceeding an upper limit and threatening your annual budget and requires some investigation. No matter what the cause, you don’t want to be surprised by these dramatic shifts, or “outliers.” Yet it is often the case that we are caught flat-footed despite all the investments we made in analytics, and these outliers go undetected and unacted upon.
RelayiQ has always given users the ability to set static thresholds to alert them when a given metric goes above or below a certain level. But it can be difficult to know where to set those static thresholds. For that reason, we have invested heavily in building out machine learning-driven thresholds using a variety of algorithms. Within the “Detect” tab, you can now select your metrics, select your outlier detection algorithm and aggregation of choice, and select your limits. The interface provides a quick graph of the data so you can easily see your threshold limits. This offers a level of precision that will surface any significant change across the metrics that are core to running your business. With hyperautomated BI, you’ll catch every important shift and never be surprised again.
Prescribe - Customized action plans
Okay, now you have selected all the key business metrics you want to track and you have set advanced outlier detection using machine learning algorithms. But what happens when the outliers are detected? This is where RelayiQ’s prescribed action plans come in. Let’s say you are tracking the individual sales pipeline against annual quota for a 60-person sales team. Your RelayiQ detection algorithm automatically calls out your rep in the Northwest as an outlier because they are several standard deviations below the rest of the team. This is not the first time this has happened, and you have a set of actions you take when reps are falling behind to help get them get back on track. With our “Prescribe” functionality, you can create a message that can be delivered via email, Slack, or text that is automatically sent when any rep triggers the algorithm-driven threshold. In that email you can outline and communicate all the actions that must be taken, set a meeting with your manager for coaching, work with marketing to deploy a regional campaign, take the new sales enablement training, etc. By combining detection with prescribed action, you can automate corrective behaviors to help intervene before it is too late.
Notify - Those who can act on them
Our Notify function enables you to set the parameters as to who to notify, how often, and what channels of communication your notifications are being sent. With our latest release, there are some notable features and enhancements to notifications. The first enhancement is smart muting. While we all want to be notified when important changes happen, sometimes notifications built on basic rules can fill our inboxes, becoming spam. Beyond being a nuisance, this is problematic because, over time, users will start to ignore all notifications assuming they are just more spam. With the muting functionality, rather than get the same alert every day (for example, informing you that you are achieving your sales target), you will only receive the notification again when sales drop below the target, then rise and reach the target value again.
It is not a coincidence that our first release since being acquired by Astreya may be our biggest yet! With the added resources and firepower that Astreya provides us, we have dramatically accelerated both the speed and scope for RelayiQ’s hyperauotomation tools for business intelligence. If you’d like to demo RelayiQ or learn more about how Astreya can help with your digital transformation of IT asset and systems management, we’d love to connect!