In most business interactions, real time describes a human rather than a machine sense of time. In an aerial dogfight between military jets, real time better mean real fast, milliseconds to be sure. To the airline passenger whose connecting flight was just cancelled and who is trying to catch the next available flight, it could mean minutes—in time enough to make a difference is the key to real time in a business context. In such a business context, a working definition of real time can be put in everyday terms: “…in time enough to make an effective decision and act, and where a late answer or action is a wrong answer or action.”



The measure of time also depends on the context: the properties of predictability, fault tolerance and reliability all combine to determine the requirements for the system. Online financial trading will have one set of requirements, far different from obtaining online requests for proposals in the construction industry. They have different real-time requirements, but both need information in time enough to make effective decisions and act.

“… and act.” That’s the key to making the real-time enterprise real. It’s not enough to have ‘publish and subscribe’ event notification capabilities that can provide constantly up-to-date information; it’s the ability to act on that information, in time enough to make a difference, that’s the essence of the real-time enterprise. That’s where the breakthrough business process management systems come in. With the advent of the universal connectivity of the Internet and the new breed of BPM software, both strategic restructuring time and tactical operational response time can be squeezed, enabling a company to “act on actionable information” without the previously painful and expensive need to rewire their information systems.

  • GE’s Jeff Immelt on Strategic Restructuring:When describing his company’s Digitization Initiative at MIT’s 2003 Emerging Technologies Symposium, GE’s Jeff Immelt, emphasized the strategic restructuring issue, “Information technology allows us to run the company differently. It allows us to make massive resource allocation decisions so that we can now apply more resources to things that we think are going to grow the company for the long term.” In fact, some observers describe BPM as a new form of Mergers & Acquisitions, for it allows companies to restructure inter-company operations without all the legal, financial and hassle factors, while sharing risks and rewards with intimate business partners.
  • Alan Greenspan on Operational Response Time: “The same forces that have been boosting growth in structural productivity seem also to have accelerated the process of cyclical adjustment. Extraordinary improvements in business-to-business communication have held unit costs in check, in part by greatly speeding up the flow of information. New technologies for supply-chain management and flexible manufacturing imply that businesses can perceive imbalances in inventories at a very early stage—virtually in real time—and can cut production promptly in response to the developing signs of unintended inventory building.”

-1-

1  2  

   Next Page

Explore Our Topics

  • EDITOR'S BRIEFING
  • Virtual Conferences
  • Webinars
  • Roundtables

BPM in Action

March 10, 2011

The sixth annual BPM in Action 2011 Virtual Conference will explore cutting-edge market developments in BPM and describe how to leverage them for improved business operation and performance. More

View All Virtual Conferences

Smart Case Management: Why It's So Smart.

Date:Nov 05, 2009
Time:12:00 PM ET- (17:00 GMT)

REGISTER TODAY!

Date:Oct 29, 2009
Time:15:00 PM ET- (19:00 GMT)

REGISTER TODAY!
View All Roundtables
  • Research Library
  • Podcasts
  • News

Joe McKendrick: Part II of II: Designing Evolve-ability into SOA and IT Systems

In part two of Joe McKendrick's recent podcast with Miko Matsumura, chief strategist for Software AG, they talk about how SOA and IT systems need to change and grow and adapt with the organization around it.

Listen Now

Phil Wainewright: Helping Brands Engage with Social Media

Phil Wainewright interviews David Vap, VP of products at RightNow Technologies, and finds out how sharing best practices can help businesses understand how best to engage with online communities.

Listen Now

Peter Schooff: Making Every IT Dollar Result in a Desired Business Outcome: Scott Hebner of IBM Rati

Scott Hebner, Vice President of Marketing and Strategy for IBM Rational, discusses a topic on the top of every company's mind today: getting the most from IT investments.

Listen Now

Jessica Ann Mola: Where Will BI Fit In? Lyndsay Wise Explains

In BI, this tough economy and the increasing role of Web 2.0 and MDM are certainly topics on people's minds today. WiseAnalytics' Lyndsay Wise addresses each of them in this informative podcast.

Listen Now

Dennis Byron: Talking with...Deepak Singh of BPM Provider Adeptia

Deepak Singh, President and CTO of Adeptia, joins ebizQ's Dennis Byron in a podcast that gets its hand around the trend of industry-specific BPM.

Listen Now
More Podcasts
  • Most Popular
  • Quick Guide
  • Most Discussed

Quick Guide: What is BPM?

Learn More

Quick Guide: What is Event Processing?

Smart event processing can help your company run smarter and faster. This comprehensive guide helps you research the basics of complex event processing (CEP) and learn how to get started on the right foot with your CEP project using EDA, RFID, SOA, SCADA and other relevant technologies. Learn More

Quick Guide: What is Enterprise 2.0?

A lot of people are talking about Enterprise 2.0 as being the business application of Web 2.0 technology. However, there's still some debate on exactly what this technology entails, how it applies to today's business models, and which components bring true value. Some use the term Enterprise 2.0 exclusively to describe the use of social networking technologies in the enterprise, while others use it to describe a web economy platform, or the technological framework behind such a platform. Still others say that Enterprise 2.0 is all of these things. Learn More