Business Impact Insights Management Guide on the Elven Platform

The Insights – Business Impact functionality of the Elven Platform provides a clear and strategic approach to understanding the financial impact of incidents in systems. By translating complex data into accessible and practical information, it enables teams to efficiently analyze costs, efforts, and incident origins.

Accessing the Insights Center in the Business Impact section

• Navigate to the main menu and click on Insights.

• In the submenu, select the Business Impact item.

Understanding the Metrics

With this tool, managers can enter the estimated cost per hour in a configurable field, such as in the example of Estimated Costs ($/h), and track real-time metrics over periods like the last 15 days or the past year. The generated insights include interactive charts and detailed indicators, empowering teams to identify bottlenecks, prioritize corrective actions, and align strategies with business goals.

Let’s take a closer look next.

Total Estimated Costs

This metric allows calculating the total cost associated with incident response, by combining the hourly rate entered in the Estimated Costs ($/h) field with the total number of hours dedicated to resolving incidents.

Example: By setting the hourly cost for incident resolution to $100, and the team allocating 150 hours during the period, the system estimates a total cost of $15,000. This calculation provides a detailed view of the financial resources consumed, helping identify optimization opportunities and cost reduction strategies.

Total Response Hours

Displays the total number of hours invested by the team in incident resolution within a defined interval, such as the last 15 days. For example, if three engineers dedicate 50 hours each to solving critical issues, the total hours will be 150.

This data is essential for evaluating the team’s effort and helps managers adjust resource allocations, identify workload overload, and set more realistic incident response goals.

Response Costs per Month

Displays the monthly accumulated costs related to incident response, allowing teams to identify trends and variations in resource consumption.

Example: If monthly costs increased from $10,000 in January to $18,000 in March, it becomes possible to investigate specific incidents or critical periods to understand what caused the increase and propose actions to mitigate future expenses.

These visual representations offer a strategic view, highlighting anomalous spikes and facilitating financial planning.

Origins List

In this section, the feature categorizes and details the origins of monitored incidents. Example: The system may indicate that 40% of incident costs are related to the database server and 30% to the authentication system.

With these insights, teams can take preventive action on the most problematic services, prioritizing the resolution of frequent failures and reducing the recurrence of incidents.

Glossary of Technical Terms

Insights Center: Central module of the Elven Platform that provides an in-depth analysis of operational and business data, supporting strategic decision-making and performance improvement.

Estimated Costs ($/h): Configurable field where managers enter the estimated hourly cost of incident response, serving as the basis for calculating financial metrics.

Total Estimated Costs: Metric that calculates the total cost associated with incident resolution, by multiplying the value entered in Estimated Costs ($/h) by the total number of hours dedicated.

Total Response Hours: Metric that sums the hours dedicated by the team to incident resolution during a defined period.

Response Costs per Month: Interactive charts that display the monthly accumulated costs related to incident response, making it easier to identify financial trends.

Origins List: Classification of the main origins of monitored incidents, detailing the affected services or systems.

Cost Distribution Over Time: Visual representation that organizes incident response costs across different time periods, facilitating the analysis of seasonality and anomalous spikes.

Incident Trends: Analyses based on historical financial impact data, enabling the identification of recurring patterns and more accurate forecasting.

Analysis Period: Configured interval for analyzing incidents and their costs, such as the last 7 days, 15 days, or 30 days.