Data is what you need to do analytics, but information is what you need to make informed business decisions.
In this chapter preview of our Orlando Release eBook, we’re looking at Orlando improvements that are helping organizations better arm their leaders by taking data from the platform and applying smart technologies to provide real insights.
The new Cloud Insights solution application, part of ServiceNow’s Cloud Optimization and available in the ServiceNow Store, enables users to analyze the full range of costs associated with cloud assets to identify and take action on opportunities (optimizing and saving money).
A few of the features in Cloud Insights include;
- Cloud Insights generates detailed and readily-understood cost analytics reports that you can filter as needed. You can make meaningful cost comparisons because Cloud Insights normalizes your organization’s entire cloud spend.
- Cloud Insights enables you to optimize cloud spend by identifying underused and over-provisioned assets and providing you the choice of automated or semiautomated rightsizing operations.
- To eliminate the uncertainty associated with ownerless assets, Cloud Insights uses your policies to assign ownership to cloud resources and auto-update the CMDB. Spend reports now include all assets in your cloud infrastructure.
It’s also worth noting that each feature of Cloud Insights is fully integrated with ServiceNow’s Change Management system provides a systematic approach to control the life cycle of all changes, facilitating beneficial changes to be made with minimum disruption to IT services.
Advanced Risk Assessments
Advanced Risk Assessments received major product enhancements in Orlando. A few of them include;
- Automate risk event response: Automate the process of adding approvers, issues, and owners to a risk event using the risk event response templates. The template reduces the need for human intervention in handling risk events each time a risk event is created. The template also automatically defines the life cycle of the risk event and how users respond to it.
- Enable Basel reporting: Use the Basel categorization specifically for banking and financial domains. Enabling Basel categorization helps you comply with the Basel regulations for mandatory sharing of Basel reports with external regulators. As a business user, you can choose to enable or disable the display of the Basel dashboard.
- Performance analytics dashboard: View comprehensive data for risk events and risk hierarchy using the Performance Analytics dashboard.
The premise behind each of the improvements is to avoid negative business impacts by centrally identifying, assessing, responding to, and continuously monitoring risks.