Deploying AIOps Strategy to Drive Cost Saving

AIOps is a combination of big data and machine learning to automate IT operations processes, such as event correlation, causality determination, and anomaly detection.

Today’s IT has increased the complexity of application architectures and IT operations, and AIOps is the response to handling such complexities. It can help in identifying root causes and reduce false positives and build alert correlation. Adoption of AIOps by Infrastructure and Operations (I&O) leaders has become an imperative, to enhance their infrastructure, operations, and cloud management.

So, how can you leverage AIOps strategies to drive cost-saving?

AIOps offers predictive analytics, service analytics, a unified dashboard, root cause analysis, automated workflows, capacity analysis, etc. According to Gartner, 30 % of large enterprises will be using AI for IT operations (AIOps) platforms and digital experience monitoring technology to monitor their IT by 2023, from the mere 2% in 2018.

Identify problems and predict probable future incidents
One of the significant capabilities of AIOps is predictive analytics. It goes beyond identifying problems by predicting probable future incidents and proactively remediating them before they become issues. Predictive analytics gives you ample time to address and solve potential problems so that you do not waste time, money, and resources. AIOps uses AI/ ML to collect and analyze voluminous data from multiple sources, to make automated decisions.

Reduce human error with AI/ ML
Despite the best of intentions, it is natural for humans to make mistakes that can cause repercussions to your enterprise’s bottom line. With AIOps, this is no longer a problem due to the advent of automation technology and machine learning. Repetitive and mundane manual tasks can be completed with 100% accuracy on an AIOps platform. Mistakes cost money and time to fix and are more likely to occur by relying on manual labor and processes. Shifting to an AIOps platform guarantees more accurate and dependable results, saving money on fixing human errors.

Avoid critical IT incidents through predictive analytics
Reducing downtime is key to the success of IT systems. AIOps’ predictive analytics gives early warnings through alerts with a diagnosis of issues. Asset-intensive enterprises can increase reliability and availability and decrease downtime substantially.

Your enterprise is entirely dependent on your IT systems to keep running and make profits in the digital age. Any downtimes or problems with your IT infrastructure will translate to financial loss. Major IT incidents such as power outages, security breaches and lack of internet can drastically impact your enterprise’s finances.

AIOps platforms with IT metrics, logs, traces, and alerts offer data on the health and performance of IT assets. In turn, this data helps detect patterns and predict the probability of future IT incidents, cutting down the possibility of unforeseen incidents.

Automated anomaly detection and root cause analysis
Identifying the root cause of a problem when there are multiple complex systems and architectures in your IT ecosystem can be challenging. AIOps can help create a unified view of systems that seem disparate but actually share hidden links whose status can impact performance. This is where ML and its algorithms come into play. They offer factual insights based on historical and real-time data. AI/ ML helps identify changes or anomalies that cause IT incidents in an enterprise. Anomaly detection compares past behavior and current behavior and looks for any deviation. And focusing on the root cause in real-time helps enterprises resolve the incident and reduce the meantime to repair.

Less investment in training and management
AIOps is a comprehensive system that caters to all of your IT needs. You no longer have to waste time and money hiring a separate team or upskilling existing employees to maintain your IT infrastructure. The AIOps platform maintains and optimizes your IT infrastructure, so you do not have to have a separate team of people that do the same job. It allows you to manage your IT resources cost-effectively.

Forecasting and future-planning
AIOps platforms are capable of providing valuable information regarding current business practices. They can make predictive estimates to ensure your enterprise remains cost-effective for the long term. Predictive analysis for business forecasting in an AIOps platform tends to be more accurate. They account for potential scenarios and enable you to take measures that ensure those issues never happen. By thinking long term, you can save costs on potential problems that are negated even before they have the chance to arise.

Conclusion
AIOps platforms are a versatile and valuable addition to any enterprise offering a practical and AI-enabled solution to processing data, empowering IT to respond to outages and downtime, thereby ensuring that you are focused on the bottom line.

IT teams often work in disconnected silos, making it a challenge to categorize and prioritize an incident. However, with data science and AI/ ML, AIOps can effectively replace manual IT operations and offer automated availability and performance monitoring, event correlation and analysis, and IT service management.

According to a Gartner report, “The long-term impact of AIOps on IT operations will be transformative.” AIOps will continue to expand its reach into the ITOM sector and is expected to grow at a CAGR of around 15% between 2020 and 2025.