Information Technology Reference
In-Depth Information
Predictive analytics and decision
management
Predictive analytics is a highly recurring concept that surrounds decision management sys-
tems. It is based on analyzing the information exposed by knowledge-based services and
finding missing cases, detecting projections in the values of variables, and expanding the
universe of information by cross-referencing other sources of information.
In order to analyze this information to obtain such insights, events from different sources
(including process executions from BPM systems), that is, from real-time production envir-
onments, are fed into a simulation environment. Here, queries are raised and data analysis
conducted to test different scenarios to see which ones have a better coverage of all the
cases.
The information obtained is later used to feed new knowledge definitions to production en-
vironments. This cycle is known as the decision analysis cycle.
Decision analysis cycle, encompassing both runtime and analysis
BPM systems assist in decision management by providing a way to define business pro-
cesses that are both very visual and faster to update than other system implementations. Of
all the possible forms of quickly representing and adapting knowledge, business processes
are the most descriptive way to provide a sequence of steps. They provide a great added
value to the decision management software by allowing them to inject new process defini-
tions to increase the number of decisions that can be taken or handled.
At the same time, decision management provides a great added value to BPM systems by
providing feedback for a new process's discovery and analysis tools to detect cases not yet
covered by processes, allowing process quality to be improved.
Search WWH ::




Custom Search