September 06, 2008

Acronyms that bind business and technology

This is might not be new to you but each day I learn an new acronym thats connected closely with business and information technology. It all about enterprise utilizing the computing power that have to get maximum profit, compete with others and and of course a better visibility of the entire business in real time.

Let me start with BPM: (first one I came across)

BPM (Business Process Management) is about defining, managing and controlling the business processes that underpin your business.

BI (Business Intelligence) refers to technologies, applications and practices for the collection, integration, analysis, and presentation of business information.

CPM (Corporate Performance Management) is a set of processes that help organizations optimize their business performance. It is a framework for organizing, automating and analyzing business methodologies, metrics, processes and systems that drive business performance. Its also know as Business Performance Management (BPM). (Yet another BPM acronym)

EDA (Event-driven architecture) is a software architecture pattern promoting the production, detection, consumption of, and reaction to events.

CEP (Complex Event Processing) is primarily an event processing concept that deals with the task of processing multiple events from an event cloud with the goal of identifying the meaningful events within the event cloud.

BAM (Business Activity Monitoring) is software that aids in monitoring of business activities. It alerts businesses to problems, issues, goals met or other indicators of how well a process is executing, typically in real-time.

EDM (Enterprise Decision Management) deals with all aspects of managing automated decision design and deployment that an organization uses to manage its interactions with customers, employees and suppliers.

Well along with this we also have SOA which an important software architecture and have enabled implementation and integration of all the concepts I mentioned above.Integration is the key word here. All these implementations working need to work together to bring a big picture to BAM. It will alert the manager when a goal is achieved, when to take a decision and status of a process. Its also possible to make EDA take decision when a event occur rather than just notifying people of the event occurrence.

So if you are a developer or architect or business analyst, you really need to look into all these!

No comments :