What do you know about Self-Driving software?
Posted by Chris Jennings
What is it?
Simply put, self-driving enterprise software is freedom from those repetitive day-after-day tasks that no one really wants to do. More specifically, it is software that collects and utilizes big data over time to make smarter and more logical recommendations that drive business operations forward with predictive actions based on real historical decisions.
How does it work?
Self-driving software uses machine learning to support predictive analytics (sounds like Skynet from the Terminator, doesn’t it?), which provides context to the massive amounts of data being collected in your business systems. This context allows businesses to automate repetitive manual tasks, freeing up more human time for strategic business decision-making. It’s all rather technical; The Economist did a nice article on it back in 2015.
Consider, for example, what goes into completing your weekly timesheet report. Your hours were basically the same on Wednesday as they were on Tuesday, which were the same as Monday. Once a week you spend some time recounting how you spent your time over the past week. Self-driving software recognizes these patterns and uses what it has learned about the user and the company, along with other integrated data sources like calendars or location data, to prepare a timesheet report that only requires review for exceptions and acceptance, with a click of a button. Now, you can spend more time doing your job instead of reporting on it.
Why do you need it?
In an online survey commissioned by Unit4, We found that on average, 552 hrs/year are spent completing tasks that could be automated. That’s over 2 hours a day! Imagine what you could do with those 2 extra hours! But, self-driving enterprise software doesn’t only save people time, it also boosts sales and empowers management.
Take your professional services company, for example. A potential customer issues a request for bids on a complex project. Using predictive analytics and machine learning, you are able to deliver a detailed and accurate time and cost proposal the next day based on other similar projects you’ve bid on, and won, in the past. Discussions begin immediately with the potential customer. Ten days later your competition finally submits their bid, but yours is more detailed and accurate, not to mention, you’ve used those 10 days to solidify your relationship with the customer.
This is the type of scenario that will become common place as organizations embrace new technology. Self-driving enterprise software can analyze thousands of projects and help determine the elements that most closely match the current project as a starting point. With a simple review and perhaps a few modifications, a final, comprehensive bid can be completed much more quickly and accurately.
Check out the full article, titled “What you need to know about self-driving software and how it will boost profits” written by our CEO Stephan Sieber here.