Know Immediately How Each Incident Impacts Your Bottom Line With This New Feature From Anodot
Anodot is the only monitoring solution built from the ground up to find and fix key business incidents, as they’re happening. As opposed to most monitoring solutions, which focus on machine and system data to track performance, Anodot also monitors the more volatile and less predictable business metrics that directly impact your company’s bottom line.
Now there’s an easy way to measure the business impact of every incident. Anodot lets you set a monetary value for each measure you monitor. Once you set the Impact Value, future alerts will show you how much the anomaly has cost you thus far.
Here’s an example of an AWS Costs Alert, prefigured to demonstrate business impact. In this scenario, the company is alerted to a spike in ‘UnblendedCost’ for AWS EC2.
Using Business Impact Alerts is quick and easy. You can set a measure’s impact value directly from an alert notification email. Alternatively, you can set the impact value for any measure from the Data Manager. To learn how, watch this short walkthrough video or visit the Measuring Business Impact article in the Anodot Help Center.
Impact Alerts enable Anodot users to gauge the business impact of an anomaly in direct monetary terms. The importance of this feature is straight forward. Let’s take cloud cost monitoring as a commonplace example. Companies experience a slew of cloud incidents over the course of a month. A break, even on a granular level, can easily go unnoticed for a day or two and rack up thousands of dollars in excess cloud costs. Anodot, however, provides proactive cost control by catching unusual spikes in real-time. Now, Anodot’s anomaly detection capabilities don’t just catch runaway AWS cloud spend immediately, it also alerts you to the monetary damage associated with the glitch.
Other relevant examples are availability and traffic. If you are conducting business over the internet, every minute of downtime or drop in traffic can be directly linked to loss of revenue. Determine how much revenue you make per hour or per website visitor, and use this as a cost to the enterprise for unavailability per hour/min or in case of traffic drop.
By tying the anomaly directly to its monetary impact, Anodot creates the transparency needed to prioritise workload and triage issues effectively. The business Impact Value is another layer of context that Anodot exposes in order to enable faster resolution of anomalies across the business. Along with correlated anomalies and root cause analysis, information about the financial impact of the alert enables teams to mitigate and resolve impactful glitches faster.
“If you can’t measure it, you can’t improve it,” Peter Drucker famously said. Now, with Business Impact Alerts you can measure it down to the cent. And with the context provided by Anodot for every alert — you can improve it as fast as humanly possible. We hope you like it.