Squirro, a leading Swiss data insights solution developer, today announces the availability of a new cognitive trend detection capability for the enterprise. The new feature, released with the latest version 2.3.0 combines the use of historical data and Squirro’s own smart filter technologies to enable a new level of predictive insight, one that can identify contextual trends, and realize the vast associated commercial benefits for data-driven organizations.
Drawing intelligent insights has always been the catalyst to unlocking data’s value in the enterprise. Today with our trend detection functionality, we move even further into the world of predictive analytics to help organizations utilize their data in this powerful new way, through service insights and customer insights,” said Squirro CEO, Dorian Selz.
Squirro’s smart filters already deliver contextual insights – that is real-time insights based on a sophisticated algorithm that adapts, ‘learns’ and evolves cognitively in parallel to use. This means searches, which are based on both structured data as well as unstructured data, are never stagnant or static, but can be uniquely relevant to an individual, a group or an entire organization.
The new trend detection analysis puts the parameters of these bespoke smart filters in an historical context to identify anomalies across nominated time increments. What’s more, the underlying algorithm accounts for the seasonality of data – for example, what constitutes an anomaly on a weekend, may be radically different to what defines one during a typical workday – knowing the difference at a granular level, trends can be identified with the benefit of this context intact. Email alerts mean that teams can be proactive to relevant emerging trends and any unusual activity.
All users can be informed of the next opportunity or crisis the business faces, not after it has happened, but rather, as trends emerge in real-time, or against a historical data landscape of similar seasonal events. Unlike typical threshold breaches, where a tiny infringement can trigger what amounts to a ‘false alert’ (and consequentially the alert fatigue that comes with it), Squirro’s trend detection takes into account the surrounding data context to determine whether or not an anomaly is valid.
ITSM teams and service operations can make use of trend detection to respond to the next major service incident in good time, assigning and scaling resources appropriately. The benefits of greater accountability, a reduction in SLA (Service Level Agreement) penalties and minimising the risk of downtime, all amount to commercial efficiencies and financial rewards that are easily quantified. Teams can mobilise quickly and respond to impending threats before they escalate, and use intelligent automation to reduce the direct burden on a busy team and greatly improve their incident resolution time. For environments running IT as a service, this degree of insight can greatly assist in capacity planning requirements.
Client engagement professionals and those in customer services can also use this to effectively plan and optimise engagement in parallel with their customer’s unique journey and behaviours. Financial services, telecoms companies and other businesses that rely on customer engagement can use trend detection to achieve new value with their own customers, and with the insights around breaking industry issues, competitive analysis and other such business-critical information, make more astute, timely and commercially rewarding decisions and recommendations.
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