operational_decision_management_lustratus

Business rules the idea behind business rules is that

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Unformatted text preview: ruly agile. Business Rules The idea behind business rules is that instead of all the business logic being embedded in computer programs and thereby understandable and accessible only to programmers, the decision-making logic that controls the way each operational transaction is executed is made accessible to business users in the form of business rules that can be authored, reviewed and edited by the business community. Where Business Rules typically exist Business Rules Repository Rule 1 Applications Documents Databases Extract / document rules Rule 2 … Rule n People Processes Figure 2: Business rules document the decision process from all sources Deploying an updated business rule can be done in real time, immediately bringing about the desired changes. This brings an enormous amount of flexibility and agility to operations, enabling business users to respond to new initiatives, opportunities and threats more quickly and effectively. It also creates a rules repository that reflects the way business decisions are taken, and therefore provides an easily accessible ‘system of record’ for validation and compliance verification. For example, take the process of opening a bank account; a reasonably straightforward process in high level terms. The business outcome of this operation can be automatically varied each time it is run, based on ‘point in time’ information, by putting in place the right rules to control the operational decision-making. Decisions taken when executing the process for a personal banking customer might include - Is this a high net worth client? If so, allocate a Platinum account with added benefits Is the client a student? If so, offer a free financial health-check Is this a brand new client? If so, and today’s date lies in our ‘special offer’ period we have been advertising, set interest at +2% for 6 months This is a trivial example, of course, but it illustrates clearly how decision management can change the business outcome and enable companies to ad...
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This note was uploaded on 01/29/2014 for the course ACC 230 taught by Professor Xia during the Winter '13 term at Bloomsburg.

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