Importance

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Abstract

The system enables business people to understand the impact of business transactions, changes and events in real-time using advanced rules and analytics to filter, categorize and interpret the significance of streams of real-time information. Most business performance analysis today is done manually and this process is a time consuming and skilled task leading to a time delay in producing the analysis. This time lag between the transaction or event happening and being able to take action on the analysis is measured in weeks or months at many companies. By blending real-time information with historical data and performance goals, this system enables business users to assess business events and collaborate within teams to drive optimal business performance. Using forecasting techniques enables business managers to predict the likelihood of achieving a particular goal without relying on manual analysis by a skilled analyst. The system automatically updates the forecast based on real-time changing data, enabling the business manager to have an up to the minute and statistically valid projection of future business performance.

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First Claim