Bangalore—January 29, 2023—New Relic, the all-in-one observability platform for every engineer, announced New Relic Pathpoint, a business observability solution designed to bridge the data gap between IT and real-world business outcomes. Pathpoint goes beyond conventional monitoring to provide users with real-time financial insights into every user touchpoint by modeling system-level telemetry from APM 360 in direct correlation to user-impacting business stages. Pathpoint helps engineering and IT teams drive operational efficiency, analyze the financial impact of issues, and align service performance to business outcomes. For example, users can gain insight into every stage of the customer journey including customer behaviors, transactions, search queries, product selection, processing times, and post-interaction activities. This full transparency into business processes and real-time metric reporting helps organizations build better customer experiences across all channels to maximize ROI.
Pathpoint allows engineers to alert both technical and business teams in near-real time if there is an unwanted change in their business metrics. Any engineer responding to the alert can quickly diagnose the reason for the change by using the New Relic all-in-one observability platform to identify the root cause that needs to be fixed. Pathpoint is also instrumental in helping technical teams provide their business counterparts with visibility into critical metrics that directly impact the business, such as revenue lost during an outage. This transparency allows business executives to also make data-driven decisions about software investments.
“New Relic Pathpoint increases collaboration across our teams and enables our engineering team with the technical insights needed to pinpoint and resolve issues faster. It provides our management and executive teams with the business-level insights needed to make more informed decisions based on specific KPIs and custom metrics, like tracking booking volume over a certain period of time or monitoring and analyzing search performance during peak hours,” said Trainline Site Reliability Engineer Sangeetha Niranjan. “This helps our entire organization, from the top down, work together to ensure our customers have the best experience possible at every stage—searching, booking, payment, and fulfillment—when finding and buying train tickets.”
Key capabilities and benefits include:
Make business-impact based decisions: Assess the financial impact of system issues by viewing software performance alongside critical business metrics to make better decisions.
Enhance customer experiences and revenue: Analyze system health in relation to actual user-impacting stages and conversion patterns to reduce churn and boost revenue.
Minimize financial impact of downtime: Easily align, set, and monitor service-level objectives with your business goals for improved service performance that aligns with business priorities.
Optimize resources and costs: Strategically group applications, services, and infrastructure according to business functions to prioritize budget/spend based on business value.
Soon, use generative AI-powered insights: Use natural language prompts with New Relic AI (now in early access) to identify cost-saving opportunities and uncover hidden revenue potential easily.
“The stakes are high for digital businesses. When a software outage has the potential to cost you millions in lost revenue per hour, IT and engineering leaders simply need to understand the business impact of the software they build and operate,” said New Relic Product Officer Manav Khurana. “With Pathpoint, we are building upon our industry leadership to pioneer business process observability so that engineering leaders and business leaders can come together in every organization and make better-informed decisions based on complete data.”
“Organizations in India face massive losses due to downtime. The annual median cost of IT downtime is $62.79 million, making business observability a necessity. With Pathpoint, businesses in the country can align key initiatives with the performance of their systems, applications and processes. Implementing business observability practices allows organizations to make informed decisions that impact their entire operations, ultimately improving the bottom line,” said Prasad Rai, VP of Sales, India, New Relic.
Pathpoint is available as a New Relic open-source project, distributed under the Apache 2 license, and can be installed directly into the New Relic platform. To get started, new users can sign up for a free account, and existing users can install Pathpoint today.