Sheldon Anthony IO

Data-Driven decision-making is critical for organizations to ensure that decisions are based on facts rather than intuition and gut feelings. Using applied observability it offers a more objective, data-driven approach that leverages real-time insights and feedback to inform decision-making. As data collection and analysis technologies improve, the future of observable data in evidence-based decision-making is bright. However, the challenges associated with observable data, such as collecting high-quality data and data interpretation, must be addressed. 

Decision-making in today's ever-changing climate is no easy task. Business owners are constantly faced with numerous decisions that can either make or break their enterprise. The traditional decision-making process used by most businesses involves analyzing past experiences, data, and intuition to make critical business judgments. Past experience may not always be the best way to predict the future. It is often too slow and fails to take into account real-time changes. This could lead to missed opportunities or poor decision-making. Without observability, business owners have limited visibility into their business operations and this means they cannot monitor crucial performance metrics or identify issues and bottlenecks within their operations. Identifying and resolving issues can be time-consuming and difficult and this results in a loss of valuable resources and time, which can significantly impact a business operation.

There are 5.1 million price changes published by William Hill every day, where everything is updated in real-time. Compared to Amazon UK's highest-ever trading day, this is 74% more.A world-renowned betting and gaming organization, William Hill was founded in the UK in 1934. William Hill's tech stack is complex and real-time, so issues may arise quickly. The exact amount of business they will have is impossible to predict in advance. To help them monitor their technology stack, William Hill implemented a number of monitoring tools. It was a wake-up call for William Hill when they repeatedly failed, often overnight. Based on New Relic's capabilities to track priority one (P1) incidents, the Impact Listener application provides real-time insights into the revenue impact of technical outages. This tool provides context and insights into incidents that impact business services throughout the entire incident lifecycle by mapping them to business services and metrics in real time. Impact Listener is launched by New Relic, sending PagerDuty alerts for critical incidents. New Relic Impact listens for issues in production, correlates the problem to the revenue being lost, and shows this data in New Relic dashboards. Teams have seen a 25% improvement in resolving P1 incidents within 60 minutes with the help of technical skills that allow them to correlate problems and solutions.^[1] 

One of the key advantages of data-driven decision-making with applied observability is that it leads to more accurate and informed decisions. Rather than relying on hunches or assumptions, decision-makers can leverage real-time data and insights to understand how decisions will impact their business. This approach helps to reduce bias and errors, leading to better outcomes. By leveraging real-time insights and feedback, decision-makers can quickly respond to changes in the market. This agility is essential in today's rapidly evolving business landscape, where organizations must be able to adapt quickly to changing circumstances in order to succeed. Businesses can improve transparency and accountability. By relying on data and insights rather than subjective opinions, decision-makers can demonstrate the rationale behind their decisions to stakeholders. This helps to build trust and confidence among customers, investors, and employees. By analyzing data on customer behavior, market trends, and competitive activity, decision-makers can identify areas of opportunity and prioritize investments that are most likely to generate a positive return on investment and this helps minimize waste and ensures that resources are used in a way that maximizes their impact. 

By using applied observability and having data readily available to make better decisions, market leaders are making them more often with better outcomes. It is a game changer for business owners who implement them in their organizations. By using applied observability business owners are providing their companies with a comprehensive view of their operations and it enables them to detect and resolve issues quickly and proactively. They are gaining a competitive edge by identifying trends in customer behavior, optimizing their supply chain operations, and improving their marketing and advertising efforts.