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Actionable Analytics.
Business Rules and Business Intelligence - Analyze the logic behind your operational transactions with Corticon Business Rules Management.
Business intelligence (BI) is a powerful mechanism to analyze historical information through the use of modern, near real-time dashboards. While BI helps us to understand our transactional data, a business rules management system (BRMS) takes it to the next level by helping us understand the logic behind the transactions. If you examine a decision within an organization, you will find that business rules likely contributed to the end result. Sometimes the decisions (and their business rules) are automated, but often they may have been written into a policy manual used to train employees responsible for making the decision. With a business rules management system you can capture and automate your business logic outside of your compiled applications, and process it against your historical or current transactions for increased transparency and auditability. With this information, Corticon can both deliver "business rules-driven" analysis and operationalize the results - which is not possible with BI alone.
There are two primary uses of business rules-driven analysis:
1. Analyze Transaction Compliance Using Business Rules: Create a formal rule model of your business policy and use it to analyze your historical transactions. Identify discrepancies between expected results (your formal policy) and actual results of your operational transactions (what your employees or system actually did).
Examples
- Claims Leakage
- Portfolio Trade Compliance
- Sarbanes-Oxley 404 Auditing
2. Analyze the Impact of Business Policy Change on your Organization: Analyze changes to policy and their real or potential impact on revenue and cost. Re-process historic transactions against a changed policy and then analyze changes in decision outcomes (such as claims that would not have been paid against the new policy).
Examples
- Credit Card Dispute – Preset Approval
- Basel II – Reserves Analysis
- Claims Disaster Planning
Business Rules Driven Analysis Delivers Detailed Understanding
The data delivered by business rules driven analysis will do more than just help you understand your level of compliance or the consequences of policy change. Business rules driven analysis will allow you to understand why. Using a unique approach to root cause analysis combined with your operational data, business rules driven analysis will allow you to analyze your situation from many viewpoints. Understanding if your non-compliane is associated with a given product, or a given processing center, or even if it is isolated to individuals who have not completed certain training.
Business Rules Driven Analysis is Also Executable
Unlike standard business intelligence solutions, business rules driven analysis is can be operationalized by Corticon’s Business Rules Management System. That means the rules models you are using to analyze your transactions can be moved into production to actually automate those same transactions. The rule models used to determine if your claims transactions are compliant with policy can immediately become the rules used to automate those same transactions.
For more information on how Corticon's BRMS can enhance your Business Intelligence solution please contact a Corticon Solution Consultant at +1 888.619.2424 or email us at sales@corticon.com.
