LCM Data Group: Visualizing Enterprise Lifecycle Asset Management Risk (ELAM)
The company empowers executive teams of businesses with access to structured data and well-designed ELAM visualization models so that they can make better decisions to control their overall risks and budgets. Certain IT asset risk strategies have an annual budget risk reduction process which incorporates past expenditures and current customer financial strategies to address ELAM risk. For such scenarios, LCM DG the company offers visualization models to identify the risk peaks which ensure the accuracy of financial reports. At the same time, customer resource plans are made to align with future peak and specific lifecycle risks. The graphically represented information is presented on a customized dashboard to their customers so that they can make meaningful and effective decisions.
Raczka also mentions that most CIOs use ELAM information with more accuracy, higher frequency and in a visual format where risk is easily understood, and decisions can be made in support of company strategies. LCM DG facilitates this entire cycle by providing reports, technologies, and services, while the ELAM visualization models allow enterprises to understand risk without worrying about the data analytics complexities.
Our visualization layer makes everything easy to understand and contextual for our executive teams
“We are targeting data analysis and visualization perspectives rather than data collection or availability problems. Our visualization layer makes everything easy to understand and contextual for our client’s executive teams,” says Raczka.
The LCM DG team touched upon a success story where a global manufacturer had formal asset management functions and tools. Due to the size and international scope of the network, the internal team only tracked the “parent” asset. Utilizing the LCM DG analytics and visualization capabilities along with the “children” assets helped in increasing the ELAM asset and risk accuracy in the customer network. The company used various system integrations and algorithms, resulting in a 30 percent decrease in the overall risk for the future budgeting period. and the overall risk for the future budgeting period decreased by 30 percent. Also, by working together with the LCM DG customer, LCM DG was the teams were able to adjust the visualizations to create a personalized story for each executive. By making use of the available information, the teams were able to create a broader awareness and commitment toward answering ELAM risks efficiently.
LCM DG is planning to invest immensely in data security by implementing required standards of technology and architectures to meet their customers’ security teams. Also, in the near future, the company is looking forward to injecting AI and machine learning technology into their solution. “Finally, additional data layers and integration with enterprise tools enable the utilization of accurate ELAM information for functions such as enterprise architecture and corporate planning,” concludes Raczka.