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Assessing event-driven initiatives: How to measure success
This article is part of the Business Agility Insights issue of July 2012, Iss. 4
Among the biggest headaches process-oriented professionals face today is measuring the effectiveness of their decision management and event processing initiatives. But, of course, before you can measure the results, you need to be clear about your goals. The critical first step is clearly identifying the opportunities where you need to make faster, smarter decisions. “Anytime companies are developing a process or changing an existing process, they should be asking, ‘Would any part of the process be improved by event management? Would any part of the process be improved by decision management?’ ” said W. Roy Schulte, an analyst at Gartner Inc. in Stamford, Conn. The reason to explicitly ask the question is that sometimes the answer might be, “No, it doesn’t make sense.” Or, as Schulte notes: Sometimes it makes sense to do either event management or decision management—but not both. Experts say that by combining business process management (BPM) with decision management capabilities, companies can do the following: Improve ...
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The use of complex event processing (CEP) and predictive analytics may herald an imminent change in the way that business decisions are made.