Helping Small Business With Active Analytics?Success Snippet

Jim Sinur
Research VP
2 years at Gartner
42 years IT industry

Jim Sinur is a vice president in Gartner Research after a short stint with a BPM vendor. Prior to that, Mr. Sinur was with Gartner 15 years and helped establish the BPI/BPM areas at Gartner and is considered a thought leader. His research and areas? Read Full Bio

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by Jim Sinur ?|? November 6, 2012 ?|? Submit a Comment

With all the political noise about helping small business these days, it?s good to see some real traction in getting credit to grow small businesses without the silly swing of policies from to loose to way too tight. Let?s use intelligent processes to make better decisions and automate what makes sense? and let humans take on the tough cases.? The power of analytics and rules together let the technologies make more automatic decisions than just a year ago. This is a? big trend.

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The Problem:

The Business Banking unit for a large financial institution used a manual process to renew all line of credit products for small businesses. The organization wanted to introduce a custom analytic behavior model and utilize a complex set of qualification criteria to evaluate the business exposure and risk level for each account. They also needed to improve efficiency and transparency into their process. The renewal process utilizes performance data from several internal and external systems.

The Solution:

The solution listens for completion of updates to the data warehouse and then automatically sends a request to a third party to obtain additional information about the guarantors and owners. The solution then applies trending analytics to identify anomalies in the data and uses active analytics to trigger appropriate follow-up actions for accounts that should not be automatically renewed. Multiple models along with policies and business rules are used to determine the best action for each account. This is an example of poly-analytics where multiple analytical models are used in parallel or in sequence

The solution also provides complete transparency and enables users to follow the decision path process to determine which models / rules were activated at each decision point which will enable strategy improvement through use of advanced modeling techniques. Alert emails are generated whenever milestones are achieved or policy thresholds are exceeded.

The Future:

The implementation will result in operational efficiencies by eliminating manual renewal processes and leverage the same data sources on different models. This is the first step this organization is taking towards building out an enterprise analytic system that will embed intelligence in all of their processes.

Net; Net:

There is a trend to put more analytics into straight through processes to create faster paths to business results.? Smart processes are going to bloom everywhere and the rate of success stories is accelerating

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The above success story has been summarized and made anonymous to get the essence of the success documented quickly. The source of this success story is a technology provider named Provenir .

Category: Applications BPM Business Process Improvement Business Rules Challenges Innovation Optimization Strategic Planning Success Technology Visibility ? ? Tags: BPM, business, Business Rules, Decision Management, events, Optimization, Process Improvement, Process Management, symposium

Source: http://blogs.gartner.com/jim_sinur/2012/11/06/helping-small-business-with-active-analyticssuccess-snippet/

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