5 Pro Tips to Increase Your Splunk Investment Returns

August 16, 2023

Are you looking to get the most out of your Splunk investment? If so, then you’re in the right place! In this article, we’ll unravel the mysteries of ROI and provide five pro tips on increasing your Splunk investment returns. 

Whether you’re a professional Splunk user or just starting to dip your toes in the world of Splunk-powered insights, there are always ways you can optimize your ROI with this powerful tool. We’ll be taking a deep dive into some of those opportunities and discussing creative ways to maximize the value of your Splunk investment. So, roll up your sleeves, and let’s get started! 

Benefits of Investing in Splunk Professional Services 

As an organization, investing in Splunk Professional Services can offer many benefits and opportunities not available with self-managed solutions. Professional Services from Splunk can provide an array of options, from strategy formulation to solution implementation and any other related activities that may be required to fully maximize your Splunk investment. Additionally, partnering with Splunk professionals means leveraging experienced Splunk expertise to help you configure your system, saving you time and money on the operational side. 

Splunk professionals can also help with: 

  • Building out custom data flows 
  • Enabling custom alerts or notifications 
  • Monitoring performance to ensure optimal security and reliability 
  • Creating custom reports as well as dashboards tailored to your business needs 
  • Helping you create long-term plans for augmenting your Splunk investment value 

With these services, you’ll be able to access a wider range of benefits from your Splunk investment such as improved security and reliability, enhanced reporting capabilities, better visibility into your IT environment, and more. Investing in Splunk Professional Services will give you the opportunity to optimize your system for maximum efficiency and value. 

Develop a Splunk Roadmap for Your Organization 

Once you've established why you need Splunk and the value it can bring to your organization, it's time to start planning how to get the most from your investment. To ensure your Splunk deployment is successful and gets maximum returns, it's important to create a roadmap for your organization. 

This roadmap should serve as your North Star—a plan outlining the steps to help your team get up and running quickly, stay on track, and ensure the biggest returns. Here’s what to include in your roadmap: 

  • Define key objectives: Put pen to paper and clearly define business objectives that will benefit from using Splunk. This will give you an onboarding goal and help keep everyone focused throughout the process. 
  • Establish usage policies: Establish team rules around who has access, how data is stored and maintained, as well as what types of data can be shared externally. 
  • Identify sources of data: Identify high-value data sources within your organization that you can use with Splunk, such as customer service logs or cloud server metrics. 
  • Empower users: Leverage training resources available through the Splunk community—such as tutorials, webinars, and user groups—to ensure teams know how best to use their licenses and which data sources are most valuable for generating insights. 
  • Monitor performance regularly: Keep an eye on metrics such as adoption rate, session duration, usage frequency, and job satisfaction. Doing so will help identify areas for improvement or potential opportunities for increased ROI within your organization. 

Create a Data-Driven Culture With Splunk 

Having a data-driven culture is key to improving your Splunk ROI. To keep your investment in Splunk going strong, start by developing a culture of self-service and shared data. This allows teams to be creatively involved in solving problems, lowering the need for IT involvement and labor costs. 

Here are some tips for creating a data-driven culture with Splunk: 

  • Get executives on board with your vision to use data to make informed decisions. Having top buy-in will help ensure teams are empowered to use Splunk independently. 
  • Provide employee training at every level. Equip teams with the knowledge and resources they need to effectively use Splunk on their own with minimal guidance. 
  • Create an environment that fosters collaboration between departments. Encourage teams to work together, leverage each other’s insights, and solve problems together instead of working in silos. 
  • Foster an attitude of experimentation. Encourage teams to take ownership and experiment with data insights, which will help them think more progressively and make better decisions faster. 
  • Celebrate successes! Showcase the value of using Splunk through internal case studies or reward employees who leverage Splunk’s powerful insights effectively — this encourages your organization to continue using data proactively. 

Maximize Return on Investment With Automation and Orchestration 

Automation and orchestration can extend the value of Splunk beyond the traditional log file analysis. By leveraging Splunk for more automated processes, you can drive greater ROI from your investment. Automation and orchestration can help save time and effort by automating mundane tasks related to collecting, analyzing, and responding to data from across IT operations. Additionally, they enable DevOps teams to focus on higher-value activities by automating repetitive processes. 

For example, Splunk IT Service Intelligence (ITSI) gives DevOps teams the power to detect and alert service performance issues before they become problems that require manual investigation or resolution. They can use it to alert based on metrics like transactions per second or create custom metrics to measure service performance. Similarly, Splunk Enterprise Security (ES) provides actionable insights into security threats by detecting malicious activity in real-time and notifying teams when they need help the most. 

Finally, another way automation and orchestration help you increase your return on investment is by simplifying complex systems. For example, Splunk’s Adaptive Response technology allows your team to respond automatically to potential issues that arise in a system without requiring manual intervention. This means less time spent manually troubleshooting issues for your team and greater ROI for you as an organization. 

Leverage Splunk Cloud to Get Ahead With Artificial Intelligence and Machine Learning 

When it comes to getting ahead with artificial intelligence and machine learning, Splunk Cloud is your secret weapon. Here’s how you can leverage it to maximize your return on investment. 

Automated Scheduling and Training 

Splunk Cloud enables you to automate the scheduling and training of machine learning models, which means you can get the most out of your data faster and more efficiently than ever before. With automated scheduling and training, you’re able to adjust to best suit your needs quickly and easily, allowing for greater flexibility in the deployment of Splunk products. 

Automated Anomaly Detection 

Splunk Cloud also provides automated anomaly detection capabilities — meaning if an incident or issue deviates from the norm, it can automatically detect it and alert you in real time. This not only increases efficiency but also helps increase accuracy in detecting issues early on, so they can be addressed before they become a major problem. 

Predictive Analytics 

Finally, Splunk Cloud's predictive analytics capabilities enable you to stay one step ahead of potential problems by anticipating issues before they happen. By leveraging predictive analytics, you're able to monitor trends over time and plan accordingly — helping reduce costs associated with maintenance, downtime, or other problems that may arise due to a lack of preparedness. 

With these tips in mind, you're well-equipped with the tools needed to maximize your return on investment when utilizing Splunk Cloud's powerful suite of AI and ML tools! 

Investing in Splunk can be a smart move for organizations of all sizes. When it comes to maximizing return on investment, the steps discussed in this article can provide the guidance and support you need to get started. From leveraging Splunk Professional Services to starting small, Prudent provides the foundation for creating a successful Splunk investment plan. 

The path to increasing Splunk ROI doesn't need to be intimidating or overwhelming. With Prudent’s careful consideration and planning, you can maximize return on investment and take your organization to the next level. 

Contact us for more information about related services.

userPublished by Gid Lockhart and Sobha Rani
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