The Big-Data-Case Lifecycle
One helpful way to think about the use of big data is to view it within a lifecycle, as shown below.
Three Levels of Lifecycle
This lifecycle is very generic. It can be applied at three different levels of business decision: strategic, tactical, and operational. In terms of prevalence, strategic decisions are the rarest and operational decisions are the most prevalent as shown below.
A simple (perhaps oversimplified) way to think about the three levels is that the operational level carries out business processes, the tactical level designs and changes the processes, and the strategic level decides which processes to perform. Our focus here is on the operational level rather than the strategic or tactical level.
The Operational Level: The Case
The operational level is where things happen. A case starts – you acquire data, you analyze the data to understand what it means. With the insights that come from this inline analysis, you make decisions in your case. Should I approve this loan application? Or not?
These decisions themselves are based on implicit or explicit business rules and may be provided by a Business Rules Engine, human judgment, or a combination of these. Decisions are translated into action through BPM, which is effectively the “action engine.” As we shall see, the results of these actions are themselves consumed as data and ultimately become fodder for further analysis, enriching the analytics and closing the loop.
Bottom line: analytics are what make a case intelligent. They help the case worker make better decisions and reduce the risk of failure.
In our next posting, we explore the lifecycle in more detail.