What is Synthetic Monitoring and how it maximizes your App Performance?
Businesses are becoming increasingly digital-focused in today’s market environment. The online ecosystem is the new normal for providing services, selling products and more importantly, successful online transactions. For a smoother flow of such transactions, synthetic monitoring (STM) is essential to ensure the application’s performance and generate value out of your digital assets.
What is Synthetic Monitoring?
Synthetic monitoring is a method for analysing the performance of business applications by simulating a path across the application functionalities. It is enabled by defining a route that has several checkpoints. When an end-user goes through the route, each checkpoint indicates the performance metrics to ensure the functionalities are working.
As a result, you have all the KPIs to make alterations in the application code. The paths are consistently monitored for regular improvements to enhance uptime. End-user synthetic monitoring has now become a common practice for business applications with transactional traffic. Thus, it is one of the most crucial IT components for banking and financial apps.
It is also known as directed monitoring as well as active monitoring.
Here are some stats related to application performance and synthetic monitoring
- 45% of respondents indicated IT service recovery in 2019 took greater than 12 hours. – Uptime Institute Report
- Globally, $126,000 per hour is the average revenue lost due to downtime. – Digital Enterprise Journal
- The Synthetic Monitoring market was $838.5 million in 2020. It is growing at a CAGR of 15.2% from 2021 to 2026. By 2026, it can reach $1944.705 million. – Mordor Intelligence
Online businesses worldwide are considering synthetic monitoring as a significant impetus to advance their applications and recover IT issues for maintaining a robust uptime. Especially, banking and finance companies are taking a keen interest to invest more in monitoring services to make the most out of their digital assets.
How STM maximizes application performance?
Synthetic monitoring proactively watches over your APIs, websites, web, mobile and SaaS applications, even during the low-traffic periods, and alerts your operations team in case of performance degradation or availability issues.
STM also plays a key role in understanding the performance limitations of your application. Your customers have realistic expectations and automated monitoring techniques fail to deliver real-time resolving. Synthetic monitoring by an end-user may be complex but it surely maximises your application performance by providing real-time data so that you deliver active responses to solve technical issues.
Managing Compliance and Third-Party Integrations
Despite your digital infrastructure, your business app requires third-party integrations to serve transaction requests from multiple sources. This is where synthetic monitoring ensures the reliability and compatibility of the third party. For your application to perform smoothly, you need consistent observation of third-party apps, follow the compliance and get real-time alerts.
Preventing Transaction Failure
Synthetic monitoring helps to prevent an unsuccessful transaction like no other technique. Analysing the previous errors along with accurate incident data in hand, resolving any transactional error is quicker when you have a monitoring partner specializing in STM and end-user analytics. It also includes constant API monitoring with a real user perspective, instant reporting of technical issues, and rechecking the applied measures to prevent transaction failure.
Why you should outsource Synthetic Monitoring?
Unsuccessful transaction due to app failure adversely impacts your bottom-line growth. Most of the business applications under the BFSI sector are outsourcing monitoring to a reliable partner with both automation-driven agility and real user analysis to stay one step ahead.
With a significant rise in investments for monitoring globally, businesses are keen to explore new opportunities by understanding application capabilities and error patterns. Your synthetic monitoring strategy should be a blend of rich data analytics and real-time responses to streamline seamless transactions.