We value Fresh more … really? All energy booster health drinks and life saving medicines comes with Expiry dates.

How about Business Insights? Do we get them when we have opportunity to use them effectively??

Real Time Business Insights

Business Context – Need of Actions in Real Time/ NRT

What (events, situations and events processing)

Why (Business Use Cases/ Case Studies)

How (Technology)

Summary

We need Fresh..when it holds value. We need to know NOW

Basics of Running a Business

Marketing

Sales Channels

Operations

Customer Service

Places where data originates and grows….

Growing Business …..

Customers(millions)

Products/ offers

(thousands)

Locations (hundreds)

Ops Time Window

(24*7) 7 days

Transactions Volume per

hour/day (millions)

Business moving with time…

Now Last hour

Today

Yesterday

This Wee

k

Last Wee

k

This Mon

th

Last Mon

th

This Year

Last Year

Actions which need to be taken

now

Decisions which may be taken

tomorrow

Decisions which can be taken

later

Retrospective business view …..

Increasingly enterprises are realizing that the retrospective business intelligence view is no longer sufficient to meet the competitive demands of operating at “internet speed”.

Organizations are under great pressure to leverage business insights in real time often hidden in vast quantities of data.

What Delays Decisions…..

Data Latency

Analysis Latency

Action Latency

Decision Time

Right Time Business Intelligence

On Demand Business Intelligence

Solutions

Costs Value

Real Time Business Insights Event Processing in Action

Events & Situations

For instance thousands of packages with RFID tags travelling the globe and RFID reader registers the RFID tag. Any lost package is notified by system.

Each RFID recording is an event, and CEP is detecting “situations,” in this use case, the situation we refer to as “lost package”.

Events are Context Sensitive

?

Spot a Business Situation in real time

Business events/ transactions correlations may reveal a business situation which can indicate a business threat or opportunity…

how soon one can identify a situation and takes an action makes a difference

OI – Real Time Analytics Operational intelligence (OI) is a category of real-time dynamic, business analytics that delivers visibility and insight into data, streaming events and business operations.

Operational Intelligence solutions run queries against streaming data feeds and event data to deliver real-time analytic results as operational instructions.

Operational Intelligence provides organizations the ability to make decisions and immediately act on these analytic insights, through manual or automated actions.

CEP Technology enabling OI •Complex event processing" (CEP) is a hot new enterprise Middleware category. CEP answers the question: "What is happening right now in our business"? •Sometimes the answer is as simple as ordering more products when the inventory dips below safety stock, but often it involves recognizing patterns of business events that foretell critical business situations that require immediate action.

•CEP platforms analyze streams of data as they flow from live sources such as transaction flows, click streams, market data feeds, and myriad other sources of data swirling around inside a business environment. •The platforms then prompt either downstream applications or people to react to the information by resetting processing priorities, changing online sales strategies, buying and selling stocks, or performing some other action.

CEP- Spotting a situation to act

Business Rules +

Inference Rules =

Complex Events

CEP – Use Cases

#1 Regulatory constraints

Report on a bulk buy transaction that is performed less than one day after a

bulk sell.

#2 Fraud detection

Report when two credit card purchases are performed within an hour at a

distance greater than 300 km.

#3 Aggregation

Report at a set time (e.g. the end of a business day) the number of purchase requests

that were processed, their total dollar amount and the average dollar amount.

CEP – Use Cases

#4 CRM

• Alert if three orders from the same platinum customer were rejected for the

same reason during a 24hour period

• Alert if an order was sent for processing and no response was received within

the time specified by the SLA

#5 Intelligent Routing

Route a trade message through SWIFT. If ACK is not received within 10 minutes and

the trade $ value is higher than threshold try again. If ACK is not received after 3

attempts use telex.

Use cases

Leveraging customer, transactions, products, campaign, channels knowledge in real time.

CEP can deliver one enterprise customer experience in real time.

CEP- Use Cases

Spotting target dynamic customer groups based on customers current transactions/ service requests in real time rather than using past history.

CEP- Use Cases

Notifications for merchant /partners/ relationship manager to offer personalized services in real time for customers.

Delivering personalized relationship manager services even to retail banking customers using CEP just like Private Banking

CEP- Use Cases

Work load balancing in real time to optimize resource utilization and to meet SLAs within budgets

Triggering actions in workflow & case management systems to re-plan workload

CEP- Usage Scenario

Marketing Campaigns using Geo Locations, Time, Merchant Category

Shop

Customer

CEP- Case Study

Enhancing Customer Experience by offering value added premium services

Rewarding Loyalty

CEP- Case Study

Cards Activation Alerts – Home Country & Overseas

Notify customers when their Debit/Credit Cards get activated, mitigate risks of cards fraud if went in wrong hands

CEP- Case Study

Real time fraud detection & prevention (ATM transactions).

CEP Case Study

Guidance SMS or Call in case card is swallowed by ATM (for security

reasons)

No need to Panic. Customer will get instant SMS/Call what to do next…

CEP Technology - Products

The Forrester Wave™: Complex Event Processing (CEP) Platforms

Summary

World of streaming data

Right action just in time or few seconds ahead of potential risks or opportunity can provide competitive advantage for business while delivering excellent customer experience & mitigating risks.

Presented by

www.SinghJaiveer.BlogSpot.com

IT Management professional with 2 decades of industry experience delivering enterprise scale IT solutions. Practitioner of professional project management, Agile & Lean Project Mgmt, information modeling, Data Analytics, Complex Events Processing & Big Data Solutions. Speaker at various Big Data/BI and Project/Program Management events Jaiveer Singh

Twitter : @SinghJaiveer www.slideshare.net/jaiveer