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July 2012, Iss. 4

Predictive analytics and event processing: The future of BPM?

Seeing Into the future goes back a long way. Once it was done with omens and portents. Now it’s done with streaming databases, neural network algorithms and MapReduce data shuffles. What hasn’t changed is that obtaining reliable and “actionable” predictions remains challenging—especially for businesses.   Wall Street has long been in the technology forefront. Outside of capital markets, the pace may be slower. But event processing and predictive analytics technologies -- some people refer to them as strategies -- are being tried out in other industries. They are gradually finding use as different types of businesses seek new competitive advantages. Both approaches, along with related “big data” technologies such as Hadoop, may be poised to change how business decisions are made. Event processing and predictive analytics are “pretty complementary strategies,” according to Neil Ward-Dutton, research director of MWD Advisors, based in the United Kingdom. Beyond capital markets, these strategies can be employed in tandem in online ...

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  • Editor’s Letter

    by  Anne Stuart

    The use of complex event processing (CEP) and predictive analytics may herald an imminent change in the way that business decisions are made.

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