OpTier Business Events module

OpTier Business Events module delivers continuous intelligence to IT and business professionals enabling them to make faster and more informed decisions with regard to real-time, critical business activities.

Due to the complex relationship between business and IT and business’ dependence on IT, application owners, business process owners and business operations managers are faced with:

• Difficulty making informed decisions due to the lack of real-time, continuous intelligence with key performance indicators (KPIs) related to business processes and activities
• Inability to proactively detect fraudulent business transactions, service errors or potentially problematic end-user behavior patterns
• Reactive and lengthy mean-time-to-repair (MTTR) resulting in negative business impact
• Inconsistency in meeting service level agreements
• Lack of quantified business impact information to help IT prioritize resolution efforts
• Pressure to align IT with the business

The Business Events module is based on Complex Events Processing (CEP) technology that processes high-volume, low-latency complex IT and business events. It correlates disparate event data sources (i.e. from OpTier CoreFirst®, OpTier Experience Manager™ and other third-party data) and then adds business rules to define business and IT operation abnormality thresholds and smarter alerts, based on the disparate event sources fed into the CEP engine.

By filtering and making sense out of these complex business events, the appropriate IT and business staff – at any level of the organization – can make faster and more informed decisions.

In the processing of a loan, for example, the following questions can immediately be answered:

• How many applicants are in the queue?
• How many fraudulent applicants or transactions are there?
• How many are pending a credit check?

For fraudulent transactions, the business process owners can be notified to reject the applicant and escalate the issue. If there are too many pending credit checks in the queue delaying the process, IT can be alerted to look into where the problem area is and fix the issue to minimize delays.

The OpTier Business Events module is valuable for any given industry with a need for high volume and low latency event processing.

Moreover, IT staff can be assured that they won’t waste their time on non-critical events because the Business Events module streamlines events and weeds out the ‘noise’. This also helps staff prioritize resolution efforts that are important to the business. OpTier Business Events module delivers real-time, cross-tier visibility into complex business transactions including multi-segment transactions that flow through multiple platforms and locations.

OpTier Business Events module processes the event data of OpTier BTM and any third-party sources. The information can be customized and presented on real-time dashboards, historical reports and alert notifications (SMS, email, etc).

OpTier Business Events module provides real value:

• Increased agility to meet business demands
  • Real-time continuous intelligence for business and IT stakeholders
  • Critical information on business processes, transactions and activities

• Enhanced risk mitigation
  • Consistent compliance with service level objectives
  • Timely alerts on potential problems (e.g. fraudulent transactions and bad end-user behavior)
  • Notification via mobile phones, emails, dashboards and command centers
• More informed decision-making for all stakeholders
  • Business-relevant information
  • Role-based dashboards, reports and alerts tailored to each stakeholder
• Optimized processes
  • Trend and pattern analysis for process and business improvement
  • Combined data sources (i.e. OpTier BTM and third-party) for enhanced business information for IT and the business
  • More effective problem isolation and resolution by understanding criticality of events and prioritization of problems
• Reduced operational costs
  • Automates manual checking processes
  • Enables automation of steps in the business process that would normally follow a manual check
  • Drilldown from Business Events module dashboards to fault isolation using a single solution including CoreFirst and Experience Manager.