At Enterprise World, Mark Barrenechea unveiled Magellan to customers and the developer community. With Magellan, OpenText has taken one more step forward in bringing Enterprise Information Management, Analytics and Insights to the hands of enterprises, enabling them to deploy control mechanisms and optimize processes.
During the launch, an on-stage demo depicted 3 major themes – Campaign Optimization, Predictive Utilization, and Predictive Maintenance.
In each use case, there are a few major components that when joined together provide a fully working system. These components in very simple terms are Sensors, Receivers, Processors, Transmitters and Controllers.
There has been tremendous growth in the forms of each of these devices and with the availability of the high-speed internet, they are connected too. The internet which was once used to connect people is now connecting devices and thus forming a whole new paradigm – Internet of Things or IoT.
IoT is the main fuel making machines smarter, optimizing the processes that rely on these machines. A “smarter” machine is less because of its processing power, and more about the ability to be connected to appropriate sources of data that can provide meaningful insights that can be easily turned into controllable actions to create a favorable experience for the end user. That’s my smart definition for a smart machine.
With the frenzied growth in the space for the sensors and receivers, there has been a need for data storage and processing systems to handle the growth spurt. Technologies like Big Data, Cloud Computing evolved and in turn fueled the growth in a Catch-22 situation. However, unmanaged growth or unmanaged data is never very successful in providing meaningful insight.
Mark said in his opening keynote from Enterprise World that “Information + Algorithm = Insight”. The wealth of information handled by an EIM system remains unchallenged. In fact, the role played by EIM has greatly enhanced the ability to manage data and provide it as meaningful information that can be processed to the engine to generate an insight.
In my opinion, it would be impetuous for any system to overlook the control mechanisms while creating the insights. There is a need for a system to depict the two aspects of the insights – presenting the insight in an actionable way to the user, performing the action on approval from the user. Without one of these mechanisms, all the hard work done in creating the insight has little meaning.
Enterprises do not execute on technological or market trends. They run on business rules and managed business processes. Every business process generates data and can leverage from the insights created by learning from the information. A truly connected enterprise would therefore be able to integrate BPM, EIM, Analytics, Machines and Control systems. In a well-managed enterprise environment, these similar systems can be leveraged for consumption in unmanaged, self-driven scenarios.