Submitted by Erik Udstuen, CEO & Co-Founder at TwinThread
Let’s discuss the most important reason for buying into or partnering with a pre-baked predictive solution. With any initiative you take on within your business, you should always be focused on the desired outcome. With the implementation of a Predictive Operations Platform, the intended result is being empowered to easily gather key insight and operationalize it fast. So, you should strategize and select the best method for achieving that goal in the shortest order.
Once you’ve concluded that you’d like to get a head-start in uncovering insights through the use of an existing option, the question then becomes, which solution is going to provide your organization (in particular) with the greatest opportunity to take action immediately. The answer is simple - one that works with your data and, more importantly, with your experts. It’s for this reason why drawing on a predictive solution that’s backed and supported by industry experience is so important. With the solution provider as your partner, you’ll be able to navigate toward intended results much faster than the alternative - attempting to uncover insight without established predictive application expertise.
When it comes to speed, keep in mind that you want fast success or fast failure. You want to know quickly whether a particular predictive solution will produce the insights you are looking to find. Building something from scratch may eventually result in a platform that offers your in-house experts key information they can apply - but it won’t happen fast.
Starting from square one will ensure that potential operational improvements won’t be identified and acted upon for quite some time. And, that’s assuming a success case. The most frightening outcome is one where you put a large amount of time, effort, and investment into developing your own solution, only to learn that it is incapable of offering valuable insight.
Prevent this threat to the sustainability of your operation by skipping several unnecessary steps and get right to the nitty-gritty - will this solution empower my domain experts to overcome challenges, or will I need to look elsewhere?
There isn’t a business case for intentionally slowing the pace of any performance-driving endeavor. When it comes to realizing improvements, faster will always be better. Don’t make the conscious choice to go slow and steady. The competitive advantage always goes to those who get there first.
Find out howyou can get to where you want to go fast, with TwinThread.