Nearly every organization is drowning in data. Information sources abound - email, Internet search, business transaction data, the latest customer database updates and weekly reports. Few organizations would deny the importance of this onslaught of data because information can unlock competitive advances, operational efficiencies and business opportunities. However, the ongoing challenge is to filter the important information from the sea of data flowing through the nets.
Let's take a step back to where we originally thought we were going with technologies such as enterprise resource planning (ERP) systems and data warehouses. Clearly, the intent was a good one - know your customer, react to problems faster through better business intelligence and research situations before making significant business decisions. Emerging from this quagmire was the concept of business activity monitoring (BAM), i.e., managing a process such as a customer interaction and monitoring the flow of that process to ensure it stays on track. BAM monitors business processes in real time in an effort to support operational improvements. BAM was the first step in a journey that has since evolved into specialist technologies that help manage the organization operationally and strategically. One of those technologies is business event monitoring (BEM). Where BAM typically concerns itself with managing a single business process, BEM is generally concerned with monitoring all current processes to provide meaningful alerts and analytics to users. Think of BEM as real-time data mining.
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