operational_decision_management_lustratus

Operational_decision_management_lustratus

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Unformatted text preview: me out of the provision of this report or its use. All trademarks are acknowledged as the property of their respective owners. Page 1 Executive Summary Many of the latest initiatives in the IT world are focused around aligning IT resources more closely with business users and business needs. The more that IT can reduce the gap between the requirements of the business community and the fulfilment of these requirements, the greater the improvement in business performance. Companies become more agile and responsive to market changes and new opportunities; governance and risk can be managed more effectively through better business-oriented visibility of operational execution; and processes can be streamlined and automated to improve customer service and reduce costs. This report focuses on one such area that has seen great strides recently, that of improved decision-making. Executives often complain about inaccurate and untimely decision-making. Decisions should be made automatically at the point in time they are needed, and with greater accuracy. Too often, decisions have to be made manually and are based on inadequate data, are inconsistent and are difficult to inspect and validate. On top of this, even when improvements to decisions can be identified it takes far too long to implement them. What is wanted is a way to deliver automated operational decisions based on formalized decision-making criteria that the business community can inspect, validate, improve and update easily and quickly. The days of reviewing monthly reports to decide on necessary actions are long gone; instead, dynamic agility is required to remain competitive and seize new opportunities. Two key technologies have emerged that are helping companies take great strides towards these objectives; Business Rules and Business Events. Business Rules Management Systems (BRMSs) enable operational decisions to be taken automatically in real time by an embedded Business Rules Engine (BRE), based on documented rules that evaluate all the necessary information related to the decision and then come to the desired...
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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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