BASEL II is more expensive than people think, becuase they are not adopting the right technology.
Full Post "Basel IT Cost Higher Than Projected - Computerworld" »
Tower Group's recent reports on how predictive analytics can deliver great results for insurance companies.
Full Post "TowerGroup Research - Predictive Analytics in Insurance" »
Complex Event Processing will drive the need for Enterprise Decision Management infrastructure as rules and analytics in combination are ideal for CEP.
Full Post "Complex Event Processing" »
Executives are starting to realize that SOx compliance is best automated. Time for business rules methinks.
Full Post "Automating Compliance Is Priority in Year Two of Sarbanes-Oxley Compliance" »
There are two ways to use analytic techniques to improve business rules. Firstly you can use data mining techniques. This involves using data driven analysis to identify more profitable rules and strategies. With data mining you can use historical data...
Full Post "How does analytics make business rules smarter?" »
In many cases, a corporation’s business rules are defined in manuals or other documents, or possibly not defined formally at all—many organizations rely on business managers to interpret company policies as business rules. This can be inefficient and lead to...
Full Post "What are the main benefits of business rules technology?" »
The California DMV recently replaced the portion of a legacy system that dealt with license fee calculation with a business rules implementation. This was the one part of the old legacy system that had variable business rules - it required...
Full Post "License Fee Calculations" »
I am going to post a ton of examples here over time. To be getting on with, The Norwegian police department does shift assignments for their personnel based on experience, union rules, etc. A company in Japan used rules to...
Full Post "What kinds of things do people do with this?" »
This is the kind of thing that separates a “Business Rule Management System” from a "Business Rule Engine". It’s a complex problem and one that requires serious development work from a vendor. Blaze Advisor, for instance, includes automated tests that...
Full Post "How do you make sure that rules don’t overlap or conflict when dealing with many of them in an application?" »
It’s all over the board. The average for a typical application is probably between 100-1000 rules. I know of some customers working with tens of thousands of rules, which they manage by collecting them into different groups that apply to...
Full Post "How many rules do companies work with in typical applications?" »
The Gartner magic quadrant, and many writers on this topic, differentiate between inference engines and non-inferencing engines. An inference engine basically figures out what information is needed and in what order rules have to be executed in order to achieve...
Full Post "What’s the deal on inference engines versus non-inferencing rules products?" »
Well JESS is a technically-oriented language based squarely in the dark days of artificial intelligence exploration. It is a lot of fun for tech-heads to fool with, but it doesn’t really have the level of support, the interfaces, or the...
Full Post "Why should someone pay for rules software when you can just get JESS for free?" »
Well frankly every programming language that has ever included an IF-THEN kind of syntax allows rules at some level. It’s a question of how easy it is to work with the rules, make changes, share them for centralized decision making,...
Full Post "Why do you need special rules software if most packaged systems and BPM/Workflow software have rules abilities built in?" »
Data is necessary but not sufficient to meet customer expectations. Business rules help turn that data into actionable insight.
Full Post "The Customer is Always Right" »
SOA and composite application approaches, such as one announced by IBM recently, make it easier and more profitable to adopt business rules management solutions.
Full Post "Composite Applications and Decisioning" »
EDM is about changing the future, not understanding the past (traditional BI) or even seeing the future (new BI).
Full Post "Don't just see the future, change it" »
Business rules represent a key way to address several issues around innovation and IT talent constraints identified in a recent McKinsey study.
Full Post "The McKinsey Quarterly: What global executives think about technology and innovation" »
The biggest opportunity for companies using business rules is to begin to combine the business agility and automation features of business rules with the segmentation of analytics and optimization software to create a new class of automated, predictive analytics. This...
Full Post "What does the future hold for Business Rules Management? What is on the horizon over the next few years?" »
Expert Systems vendors promised that their packaged software would perform tasks just like the companies’ most experienced employees, with intelligence and best practices painstakingly collected from industry experts. By and large, the expert systems promise did not succeed in practical...
Full Post "Isn’t the business rules hype just a re-labeling of the whole expert systems fiasco of the 1980’s?" »
Are you a major enterprise-sized organization with a lot of rules and lots of programming disciplines to worry about? Then there’s really Fair Isaac Blaze Advisor and ILOG JRules – and then there’s everyone else. Those two are always noted...
Full Post "Who are the major players in this space?" »
Companies that would immediately benefit from business rules management software include those in financial services (mortgage, lending, credit cards), insurance, telecommunications, healthcare, government and increasingly retail vendors (online, mail order). These are all business that have a large number of...
Full Post "What sort of organizations should consider implementing Business Rules?" »
With converging and opposing business trends of a need to be increasing agile in business while continuing to maintain and ensure compliance, business rules deliver a unique benefit. They allow rapid and accurate operational implementation of new business strategies (i.e....
Full Post "Why should organizations consider this type of technology?" »
A Business Rule Engine is one part of a complete system for handling all the things involved in working with rules. Admittedly, it’s an important part, but it deals only with execution… which rules need to be executed in what...
Full Post "What's the difference between Business Rules Management Systems and Business Rules Engines?" »
SOA has great value and potential and a business rules management system ought to be part of your SOA designs.
Full Post "SOA - A New Blueprint for IT" »
An analytic CRM investment is easy to justify if you follow the advice in this article and even easier if you use EDM technologies to deliver more value.
Full Post "High Performance Marketing: Justifying Your Analytic CRM Investments" »
Requirements need to be good but sometimes they just change too fast. That's where business rules technology lets you teach your users to fish, not just feed them.
Full Post "Writing Better Requirements - Key to Success or false hope?" »
Getting more value from your CRM investment is a key topic these days, automating decisions about customer treatment in a way that leverages your CRM data for precision and delivers consistency across channels is key.
Full Post "Analytics + CRM = Happiness" »
Legacy modernization is a hot topic and business rules technology allows you to modernize just the high maintenance bit of your system and so save dollars.
Full Post "Giving your mainframe a new "brain"" »
Business Process Management implementation WILL drive you to consider and implement business rules if you want to get Straight Through Processing. BPM tools automate processes, not decisions.
Full Post "Business Intelligence Pipeline | IT Detours On the Road To BPM" »
Data mining is a great way to derive the business rules you ought to be using. Its more reliable in some ways that mining that old legacy code.
Full Post "Explainer: Data mining - Computerworld" »
Data Mining success is focused on the same areas as business rules and predictive analytics.
Full Post "KDnuggets: Successful Data Mining Applications" »
Business rules technology is key to delivering the operational efficiency companies are looking for.
Full Post "Finance Organizations Need to Improve Operational Efficiency But Don't Know How" »
Healthcare companies need to move from decision support to decision automation using business rules.
Full Post "Decisioning in Healthcare" »
Different perspectives from IT and the business are nothing new but business rules technology can bridge the gap.
Full Post "Different Perspectives" »
Government agencies can get great value out of automating decisions using business rules and predictive analytics.
Full Post "Decision Management and Government" »
What is the difference between Business Intelligence and EDM? The simple answer is that Enterprise Decision Management differs from traditional BI in that it is focused on execution of decisions and actions rather than reporting.
Full Post "The differences between BI and EDM" »