Celebrate the Success Stories of Knowledge Management - 2022 KMWorld Awards

BPM takes on the tough challenges

Incorporating historical information such as that derived from business intelligence (BI) systems is another component required for gaining a full understanding of process as it affects business outcomes. "To correlate the BI metrics with process, new science will need to be injected into the mix," adds Sinur. "A lot of work is going on now in complex event management toward this goal."

Complex event processing (CEP) presents a flow of data through a set of query rules, rather than using a more traditional approach of analyzing a set of static data with a varying set of queries. CEP is a better match for business process flow because it can be accomplished in real time and used to address such issues as business performance and risk management.

Analyzing operational information requires the ability to track many simultaneous, interrelated processes. For example, identifying potential fraudulent activity in near-real time requires detection of complex event patterns, such as a request for a new credit card having an increased limit, combined with a change of address. That combination might trigger the examination of the individual’s past spending patterns, which are stored in a data warehouse, to set up a flag if the next purchase diverges from past spending patterns. Yet the value of the information decreases if the analysis is delayed by a week, because by then, the fraudulent card may have been issued and used.

Numerous solutions are emerging that provide improved analytics of business processes (see sidebar below). In the coming years, BPM systems will be able to take on even tougher challenges and provide more precise information on performance.

Monitoring events in real time

Event stream processing software from SeeWhy monitors ongoing events in BPM systems to look for a variety of business risks and opportunities. It can provide real-time alerts for situations such as unusual purchasing patterns, delays in processing or situations where a large or valued customer is experiencing a delay in an order, so that remedial action can be taken.

The technology offers advantages over the analytics that are present in existing BPM systems by providing more granularity, real-time analyses and the ability to create new events when a certain pattern develops.

KMWorld Covers
for qualified subscribers
Subscribe Now Current Issue Past Issues