Monitoring IT systems is not enough for organisations that are totally reliant on IT to run their business. Instead, they need to be able to understand the data being monitored on their IT networks.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
IT operations analytics software can help businesses understand the information being monitored to detect potential problems early on. The market for these technologies is set to grow as businesses become more digitised and the business and IT become singular.
At a recent event held by IT operations analytics company Netuitive, large organisations in the telco, financial services and gambling sectors revealed an interest in software that can understand the masses of data being monitored on their IT networks.
Nationwide Building Society, EE and Betfair are among the companies that are reviewing Netuitive’s IT operations analytics software.
These companies are heavily, if not totally, dependent on their IT systems. Any downtime costs money and the longer it goes on the larger the damage.
More on RBS
They are also heavily regulated, so problems can result in more than lost business, with potential fines if customer services are affected.
Computer problems cost RBS £175m in customer compensation in November 2012, when a glitch in the CA7 batch process scheduler ended with 12 million customer accounts being frozen, making it impossible for some customers to access funds for at least a week.
Gartner analyst Will Cappelli said the IT operations analytics market will be worth $800m in 2013, up from $300m in 2012. Gartner expects this growth rate to be repeated next year.
He said it is almost coincidental that companies interested in IT operations analytics technologies are regulated. “The business processes of these companies are so digitised there is no distinction between business and IT,” said Cappelli.
The business processes of regulated companies are so digitised there is no distinction between business and IT
Will Cappelli, Gartner
Paul Horlock, head of payments and service strategy at Nationwide Building Society, said the company is starting to use IT operations analytics technology.
"With advanced IT operations analytics as a key constituent, we are developing a sophisticated, cross-silo performance model, integrating user experience and IT infrastructure performance, as well as customised business activity monitoring metrics important to the payments team,” he said.
According to Horlock, early results show improved visibility into the Faster Payments service, improved root-cause isolation of performance and availability issues, and the ability to proactively detect anomalies that could cascade into larger issues and outages.