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What Is Situational Intelligence?

Situational Intelligence
What is Situational Intelligence?
Situational Intelligence
Benefits of Situational Intelligence
Situational Intelligence
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Situational Intelligence is a proven approach that unites data from across an organisation to provide the context needed for fast, confident decision-making.

Situational intelligence correlates, analyses and visualises massive amounts of disparate data to identify the crucial few items that require attention.

All types of data are useful in situational intelligence, including data from enterprise systems (ERP, CRM, etc.), operational systems (pumps, motors, etc), IoT devices (meters, sensors, etc.) and external systems (weather, social media, traffic, fires, etc.)

Situational Intelligence

The Components of Situational Intelligence

Situational intelligence brings together business intelligence, operational intelligence and location intelligence. Data from every source is analysed and visualised in a single solution to simplify decision-making.

The Benefits of Situational Intelligence

Organisations in a range of industries around the world use situational intelligence to reduce risk, increase safety and asset reliability, improve productivity, ensure regulatory compliance, raise customer satisfaction, lower costs and create new revenue opportunities.

Examples of how these businesses are utilising situational intelligence to make fast, confident decisions include:

  • Anticipate and respond faster to unplanned service disruptions
  • Accurately match variability of customer demand with available capacity
  • Identify and proactively address high-risk assets and situations
  • Optimise asset and network performance
  • Detect theft or fraud
  • Perform root-cause analysis to determine why assets failed
  • Prioritise operational tasks based on financial impacts
  • Proactively inform customers of service delays or failures
  • Improve cross-functional collaboration and communication
  • Optimise personnel schedules under constantly-changing conditions

The Six Categories of Situational Intelligence

Situational intelligence mirrors human brain processes on multi-faceted situations and events as it seeks to fully capitalise on all relevant sources of data. Decision-makers like to be able to digest information quickly and actually see what’s happening (and where and when it happens) so they can connect the dots faster than they can search for correlations within static spreadsheets or text. To this end, situational intelligence focuses on creating multi-dimensional visualisations of data so that information consumers can see, understand, and take action on unfolding situations at a glance. This “360° insight” includes the following six categories of intelligence:

#1: Operational intelligence

Operational assets (such as transmission lines, drilling rigs, cellular towers, delivery trucks, and inventory stores) are critical to the day-to-day performance of many businesses. The goal of operational intelligence is to acquire and analyse the data these assets constantly generate and keep tabs on the health of the assets so that proactive action can be taken to address issues, such as maintenance needs, before they impact service availability, safety, and operational efficiency.

#2: Environmental intelligence

Environmental events such as severe storms, heat waves, wildfires, and heavy snow can wreak havoc on operational performance. In other situations, environmental factors play a role in driving operational success. Consider the importance of wind, water, and solar in supporting green power for smart grids. Environmental intelligence utilises data from weather reports, satellite images, emergency services, and sensors to help organisations respond to changing conditions that can have either a negative or positive effect on their ongoing operations.

#3: Location intelligence

Having insight into where things are happening is extremely important for any organisation with geographically distributed assets, customers, and employees. When a mechanical problem grounds a plane in one city, being able to quickly arrange alternative plans for the delivery of inventory or goods on that plane is critical to avoiding disruptions in service (and profit). Location intelligence helps decision-makers’ actions be more precise and efficient.

For instance, stakeholders can use location information to answer the following types of questions: Where was the plane going? Are technical personnel available near the site to make the needed repairs? Are other planes available at or near the location to deliver the shipment? If not, what other transportation options are nearby? Which customers will be affected, where are they, and what are the revenue implications of non-delivery? The list goes on.

#4: Machine intelligence

Using machine intelligence, organisations can automate complex business rules and processes, identify behavioral anomalies, perform “what-if” simulations, and make reliable predictions about behavior of assets under certain conditions. Common questions can include: What is the likelihood of failure of certain assets over the next 10 years? How will costs and service levels be affected if I deploy new, smarter assets over the next two years versus the next five years? Why are all customers in this area reporting high service satisfaction levels except for these 10 customers?

#5: Social intelligence

The rise of social networks has given birth to volumes of data that can be mined to better understand the experiences of customers, prospects, and even individuals who are using competitors’ services. Social data can also be a useful tool for capturing insight quickly about what’s happening “on the ground.” A map tracking social media chatter can be a powerful visualisation aid, showing, for example, how many customers in the same neighbourhood are tweeting that they don’t have electric service.

#6: Business intelligence

Traditional BI tools are designed to slice and dice archived information and churn out pre-defined reports. Although BI by itself may not be able to meet the requirements of dynamic organisations, combining it with the five other categories of intelligence is unquestionably powerful. Imagine, for example, that in addition to looking at “sales by ZIP code,” a business user can view a map showing the majority of sales by city, neighbourhood, street, or any user-selected geospatial area. Perhaps a business wants to identify the effect of severe storms on sales in particular stores, view the impact of social media initiatives in various cities, or make more accurate predictions about buying patterns at different stores.

Supported by situational intelligence, BI becomes infinitely more useful, giving businesses the insight to be one step ahead instead of one step behind. The best part is that emerging technologies are enabling users to obtain this insight through a single software environment.

Security Unified Security Operations Centre

This unification is a clear differentiator to other ‘dedicated’ SOCs. Dedicated SOCs might justify themselves by saying it is better as they ‘only do security’. Our experience, however, is that unification enhances our security capability and gives you a better outcome. This is because we can more quickly and correctly determine what is a threat and the best course of remediation for a business when we have greater understanding of your business’s operations.

Learn more at https://www.netoverdrive.com.au/services/security/security-unified-security-operations-centre/

Source Link

https://web.archive.org/web/20161105025841/http://situationalintelligence.net/what-is-situational-intelligence/

https://tdwi.org/articles/2012/11/06/Situational-Intelligence.aspx

*We reproduce this article from the old website (https://web.archive.org/web/20161105025841/http://situationalintelligence.net/what-is-situational-intelligence/) as it has been offline now.

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3 Steps to Protect Your Data From COVID-19 Scams

3 STEPS TO PROTECT YOUR DATA FROM COVID-19 SCAMS

Coronavirus (COVID-19) isn’t just a growing threat to public health – it’s also a growing threat to your company’s cybersecurity. From using scary subject lines to adopting faux official letterhead, bad actors are scrambling to use the climate of fear and disruption caused by COVID-19 to their advantage. Disasters, emergencies, and global pandemics provide a target-rich environment for cybercriminals to launch phishing attacks and employ other dirty tricks to gain access to your data. It only takes one staffer opening a bogus email, clicking on a dangerous link, or downloading a malware-laden attachment for them to succeed.

Australia, in particular, has seen an increase in cyber risks and threats amid the intensifying outbreak. That’s led the Australian Cyber Security Centre (ACSC) to release a new threat update exposing the patterns of these schemes through a series of case studies.“Cybercriminals are very opportunistic and we are seeing an increased targeting of Australians through COVID-19 themed malicious activities,” said the acting head of ACSC, Karl Hanmore. Over 100 scam cases have been reported to the Australian Competition and Consumer Commission’s Scamwatch in the last three months with a significant surge in malicious cyber activities affecting businesses and individuals since early this month. This is why the new threat advice update also outlined practical security measures to be practised by businesses and individuals alike, as private networks can be a lot less secure than an organisation’s patched up operating network.
 
Here are three ways that you can act immediately to prevent a potentially disastrous Coronavirus-related data breach.
1. Plan, Preserve and Protect 

Use expert guidance from agencies like CISA to prepare your organisation for risks posed by COVID-19. Is your cybersecurity plan adequate for the unique challenges presented by increased virtualisation if your staff is quarantined or working remotely for safety? Two-factor authentication and other tools like VPN help keep your organisation’s data and systems safe even when workers aren’t in the office.

2. Trust but Verify 

Get updates about COVID-19, scams and frauds related to the Coronavirus pandemic, and its impact on cybersecurity from trusted, official sources, and encourage your staff to only use vetted information for planning and communications. Be wary of any email with a COVID-19-related subject line, attachment, or hyperlink. Avoid sharing or clicking on social media posts, text messages, or IMs offering Coronavirus information, vaccination, treatment or cures.

3. Make Prevention a Priority 

Refresh every staffer’s training on how to spot phishing scams and online fraud. Remind your staff that government agencies will never ask for sensitive personal, financial or business information via email. Reinforce that clicking on links or opening attachments from unfamiliar sources is a quick way for scammers to infect your systems with malware. Employee Security Awareness Training and Phishing Simulations can help make sure that your staff is ready to spot and defend against attack. Constant vigilance against cyberattacks is a smart strategy for any business. In these uncertain times, we’re happy to be your trusted source for the tools and strategies that you need to keep cybercriminals out of your business.

Episode 1 – Intro to the Profit Stacks Framework

 

 

Many companies know that IT is important but see it as a necessary cost and unable to link their technology to their business goals. The Profit Stacks Framework allows them to do that.

Transcription

Hi, my name is Greg Clarkson. I’m the CEO of Network Overdrive. And this series of videos is designed to help you understand how IT powers profits.

Network Overdrive is different to other technology companies because we have the profit stacks framework that helps us focus on IT delivering profit for our customers. And we have the capacity to execute on that. So profit stacks framework is a methodology that gives you a one page view of your business that highlights all the activities that you do and the technology you use to support those activities so that you can drive profit and make efficiency gains.

A business owner can learn more about the profit stacks framework by visiting our website and downloading an ebook.

Our website is https://networkoverdrive.com.au and they can follow the links to the download.

Episode 2 – I.T. Shouldn’t be a Cost

 

 

Why Profit Stacks Framework was created

Transcription

This program came into being, because we’ve been helping businesses for 20 years now and we’ve seen businesses spend money on technology and not see the results that they want, and we hate doing that. We hate not delivering value, not seeing results.

My experience of businesses is that they already now believe that technology can make a difference in their business, perhaps 10 years ago they were not so sure, but business owners have become jaded with bad experiences of trying to implement technology that hasn’t quite worked out for them. So, they know that they should spend money on technology.

They don’t know how it makes a difference. So, they tend to put it in their cost centre like a necessary evil. It’s like rent or having to purchase insurance, it’s something they have to have, but they don’t really see it as significant to their business.

So, the profit stacks framework is our way of delivering transparency and insight so businesses can actually make a difference in knowing that if they make a dollar, $1 investment even, in technology, they will see the direct benefit of that $1 in solving their key profitability challenges.

Episode 3 – Turning I.T. from a Cost to a Profit

 

 

Business’ typically see technology as a cost centre because they don’t know how it relates to their key business goals. The Profit Stacks Framework can help to fix this.

Transcription

Typically, business owners see technology as a cost centre because they don’t know how technology relates to the key essential goals they have for their business, and so they just put in the financials below the line as operating expense.

But once a business owner can see how technology can help them with key challenges and profitability, then it becomes a profit centre.

So for example, if one of your challenges as a business is how to acquire more customers and you can see clearly and directly how technology can help you acquire more customers, then it becomes a profit centre.

So when our business understands that technology can make a difference and is a key driver of profitability in their business, the main benefit is scale because technology allows that business to automate and repeat a process and can grow incredibly successfully.

Another way technology can help a business increase their profitability is by offering new products and services that had never considered before. So typically, like in a service business they might be really limited by their human resources and delivering a really customised personalised service which is great but then they might be able to use technology to augment that service to have repeat monitoring or evaluation of that service and increase their profitability by offering a different product.

Episode 4 – The Profit Stacks Framework explained

 

 

Ever wondered what the Profit Stacks Framework really is? Greg Clarkson goes into more detail on how it can make a difference in a business.

Transcription

So the five areas of the profit stacks framework came out of the last 20 years of experience that we’ve been having working with businesses. It’s come out of the challenges that businesses are talking to us about and we decided that we could probably group all these challenges that business have into these five areas.

The five areas are, we start with the sales stack. So the sales stack is really focused on customer acquisition and the process of doing that.

Examples of activities that might be included are things like lead generation, how you acquire inquiries, how you nurture your inquiries, which is like an outbound process, how you quote, how you actually close a deal and move it across into an ongoing relationship with that business.

It’s flexible so that we get to define what is the sales process that works well for each business. So this is just an example of activities that might be in there, but it could be something else and then another activity we talk about is the people stack.

The people stack is all about everything that makes your people productive and excel in your business. So covers aspects of your teamwork. It covers HR hiring and firing. It covers commissions and compensations but it also covers teamwork aspect like communication, how people collaborate, how knowledge sharing is happening in your business.

The production stack or the operation stack is actually what you produce. So when you make a promise to a customer that you’re going to deliver some value then in the production stack is the value that you give them. So for a service based business tt might be around requirements gathering, producing a report and then getting feedback on that report back from the customer and that would be the activities.

For another business that’s a food processing business it might be acquiring the raw materials, putting them together cooking them and then shipping them or putting them on the plate for someone.

For some businesses, you can have multiple production stacks for each line of products that you have and there is flexibility there but we just call it one production stack.

And then the finance that covers all the aspects of understanding the profitability of your business, which covers the invoice, the revenue aspects of generating invoices, collecting payments and also managing your debt which could be receiving payments, but also negotiations with banks and finance of loans. Typically people want to know their profitability per product, ideally per staff member, per client and the finance guy could deliver in the system that can do that for you.

And then we have a fifth step called the structural stack or you could also call it the strategic stack and these cover the activities that either protect what you’ve got, like, risk mitigation activities like insurance that you’re protected from cyber-criminal activities, but it’s also innovation, developing new products, R&D, competitive analysis, knowing what’s out there in the marketplace.