Oracle recently announced Oracle Real-Time Decisions Release 3.0, a decision management platform to deliver targeted recommendations during customer interactions or wherever optimized decisions need to be made in business processes such as risk management, retention management or cross-sell/upsell.

In a real-time enterprise, instant feedback allows organizations to capitalize on opportunities earlier and in a more targeted fashion. The 3.0 release product enhancements improve the applicability and accuracy of its closed-loop decision engine and streamline integration with customers’ existing processes.

Oracle Real-Time Decisions applies predictive models and business rules to make recommendations in real-time against specific goals, and then automatically uses a feedback loop to deliver ongoing improvements. This integrated approach enables organizations to optimize business processes and customer interactions.

"Oracle Real-Time Decisions addresses the need companies have to better pinpoint and capture sales opportunities, be it online, via call centers or at the point of sale,” said James E. Hayes, global managing director of Accenture's Oracle Practice in the release. “We see great potential for this tool in variety of industries - retail, telecommunication, insurance and banking, among others.”

Greg Todd explains more about the imperative of real-time analytics in-depth here.

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