The pandemic has seen the AIOps market grow significantly. The growth has been driven further by a worker shortage in the IT industry, which has steadily been getting worse.
AIOps stands for AI in IT Operations and refers to software meant to automate, correlate and monitor IT systems performance across entire enterprise networks.
In 2019, the AIOps Exchange survey reported that 45% of IT organizations now look to AIOps to analyze and determine what’s behind incidents, with capabilities that can even predict future problems.
Early adopters seem to be reaping the rewards already.
Paying off already?
A PagerDuty estimate says that companies with AIOps are saving as much as 30 minutes on average when it comes to incident resolution. Some of the biggest vendors providing AIOps include Coiled, ScienceLogic, and OpsRamp.
BigPanda is another of these vendors based in Mountain View, California. The startup develops AI to audit changes in IT environments, anticipate incidents and recommend fixes.
On Wednesday, BigPanda announced it raised $190 million at a $1.2 billion post-money valuation, placing the company firmly at the top of the AIOps pile. Not only does the money show investor confidence in the sector, but also serves to boost its development and deployments.
What BigPanda does
BigPanda was founded in 2012 by Assaf Resnick and Elik Eizenberg. The platform prevents outages by using data from observability, change, topology, and monitoring to give actionable insights.
The platform can automate manual aspects of incident response, including ticketing, with the ability to optionally connect to third-party runbook automation tools for workflow automation.
BigPanda also provides users with analytics for incident tracking and metrics, allowing IT teams to measure progress toward goals. The company claims that one of its customers, Bungie (a video game studio), was able to eliminate reliance on manual monitoring while cutting down tickets from 3,000 to 35 alerts. Sony’s PlayStation Network is cited as another success story.