Business Processes have evolved over time. These process are streamlined to almost military precision. Continuous improvement / Kaizen application over the years have made our business efficient. As the businesses exist in dynamic environment , there is a constant flux in the business ecosystem , which poses new challenges here now and then.
Business decision are rudders keeping the ship on-course to value maximization. Drift in the course is what exception are. So business decision starts from identifying these exception, prime focus is now on reducing the lead time of reporting these to the decision makers (information dissemination as close as possible to the occurrence of exception) , the better it is.
Kind of business information needed depends on Decision Impact Horizon i.e. long term (strategic) --- short term (operational). Transactional information is the one needed for short term decision process. Accumulated transaction forms the basis for long term decision processes.
Pattern deviation detection is the future of exceptional handling in businesses - thus machine learning is the way to go for organization to apply statistical algorithms to the transactional data and detecting pattern deviation as close as possible to the event occurrence aka real time intelligence.
To correct the course, business decisions are taken. Till now we are half way in accomplishing our goal. Impact of business decision needs to be measured, and on this feedback further action may be warranted.
Business decision are rudders keeping the ship on-course to value maximization. Drift in the course is what exception are. So business decision starts from identifying these exception, prime focus is now on reducing the lead time of reporting these to the decision makers (information dissemination as close as possible to the occurrence of exception) , the better it is.
Kind of business information needed depends on Decision Impact Horizon i.e. long term (strategic) --- short term (operational). Transactional information is the one needed for short term decision process. Accumulated transaction forms the basis for long term decision processes.
Pattern deviation detection is the future of exceptional handling in businesses - thus machine learning is the way to go for organization to apply statistical algorithms to the transactional data and detecting pattern deviation as close as possible to the event occurrence aka real time intelligence.
To correct the course, business decisions are taken. Till now we are half way in accomplishing our goal. Impact of business decision needs to be measured, and on this feedback further action may be warranted.
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