Oracle Offers Real-Time Decisions Release 3.0

To help organisations maximise business processes and customer interactions, Oracle has announced the general availability of Oracle Real-Time Decisions Release 3.0.

Oracle Real-Time Decisions is a decision management platform to deliver targeted recommendations during customer interaction, or wherever optimised decisions need to be made in business processes such as risk management, retention management or cross-sell/ upsell.

It applies predictive models and business rules to optimise recommendations in real-time against specific, sometimes conflicting commercial goals, and then automatically uses a feedback loop to deliver ongoing improvements. This integrated approach enables better returns than rules-based systems or traditional predictive model solutions.

Specifically, Oracle Real-Time Decisions helps organisations maximise business processes and customer interactions by:

- Optimising customer experiences with relevant and personalised cross-channel real-time recommendations;
- Making the most of each interaction (past and present) and recommending the best course of action with embedded predictive analytics and rules; and,
- Enabling self-adaptive processes through closed-loop predictive analytics automation, and the integration of business intelligence (BI) into interaction processes.
- To enable more organisations to optimise business processes and customer interactions, Oracle

Real-Time Decisions Release 3.0 introduces product enhancements improving the applicability and accuracy of its closed-loop decision engine and streamlining integration with customers’ existing processes.

Automated Decision Management

With Oracle Real-Time Decisions Release 3.0, the Decision Framework introduces the following enhancements:

- Composite Decisions – To streamline application integration with companies’ business processes and IT architecture, Oracle Real-Time Decisions allows ‘choices’ and other elements participating to its Decisions to be stored and administered externally. This enables systems such as e-commerce, CRM, transactional, and others to take advantage of Real-Time Decisions functionalities without complex process re-engineering;

- Batch Processing – unifies real-time and batch decision logic into a centralised enterprise repository, enabling cross-channel deployments. Oracle Real-Time Decisions now supports new scenarios such as targeted recommendations for outbound e-mail marketing campaigns, batch recommendations for list generation, and updating of predictive models from historical data; and,

- Improved Rule Expressivity – empowers business users to manage more elaborate targeting logic at the point of customer interaction without dependency on IT.

Additionally, this latest release features major enhancements to Oracle Real-Time Decisions Base Application. The Base Application provides a library of pre-configured components, helps speed implementation and maximises the RoI of product implementations. New features include templates for Enterprise Decision Management and a library of reusable, high-value decision patterns that illustrate how to take best advantage of the advanced predictive decision capabilities of the platform.