By Mike.Hallett-Oracle on Dec 02, 2014
By continuously learning in real time, an adaptive solution can predict and optimize the outcome of each transaction, thereby improving the customer experience and maximising revenues. With increasing amounts and speeds of data acquisition, the solution needed for this must make many decisions automatically and very quickly (for example in less than a Tenth of a second for an effective eCommerce application) based on large amounts of data.
Many of our recent Big Data customer projects are driven by this need for high value real time decisions. As a Partners you can offer excellent ROI to you clients by deploying Oracle RTD (Real Time Decisions) to combine both rules and predictive analytics; instilling real-time intelligence into business processes or customer interactions as they happens.
- Watch this 8 minute video on “Real-Time Responses with Big Data” by James Taylor.
- Optimizing Your Return on Customer Attention with Oracle Real-Time Decisions (PDF)
- Benchmarking Oracle Real-Time Decisions 3.2 on Exalytics Hardware (PDF)
Oracle Real-Time Decisions allows business users to adjust rules and predictive based decisions to optimize competing business goals, such as increasing revenue while decreasing servicing costs. Technically, RTD is based on an Open Service-Oriented J2EE Architecture - built on a service-oriented architecture (SOA) using industry-standard J2EE application servers (such as Oracle Application Server, BEA WebLogic and IBM WebSphere), and can be readily incorporated into many existing or new applications.
The Oracle Real-Time Decisions Base Application is a library of pre-configured components representing best practices for Decision Management implementations using Oracle Real-Time Decisions. The library contains two types of component: pre-configured Decision Services that can be used to implement specific decision patterns and Application Components that can be used by business users to support their decision management needs. The pre-configured Decision Services provide best practice patterns for E-Commerce and Customer Service interactions optimization, and contain hundreds of pre-built elements such as performance goals, data attributes, predictive models and reports. The pre-configured Application Components address the needs of business users in terms of content authoring, access and version control, search, collaboration and workflow integration.
These Application Components are then assembled together into a pre-configured Decision Management application for Marketing Optimization, a turn-key deployable solution for real-time inbound marketing optimization and collaborative decision management, now available as a component of the Oracle Real-Time Decisions Base Application.
For example, in the context of E-Commerce, the Oracle Real-Time Decisions Base Application provides a generalized Inline Service for the purpose of optimizing E-Commerce interactions for Oracle or non-Oracle E-Commerce systems, while Oracle Real-Time Decisions for Siebel E-Commerce is a pre-packaged version of the above mentioned Inline Service that has been tailored for the Siebel E-Commerce Application. Similarly, the Siebel Intelligent Offer Generation product (IOG) extends Siebel Marketing and Siebel Contact Center with RTD capabilities for Contact Call Centres.
- RTD 3.2 now provides reporting on top of its detailed decision and choice event information with OBIEE dashboards. See here for more on What's New in Oracle Real-Time Decisions, Release 3.2.
- To get started with RTD view the Oracle Real-Time Decisions Online Documentation Library v3.2,
- And Download the RTD software @ Oracle Real-Time Decisions 3.2 downloads (see half way down the page “Oracle Real-Time Decisions, v220.127.116.11.0 - Runs on all certified platforms: 323 MB Download File”)
- Here is a tutorial showing you how to configure, deploy, analyze, and update an Inline Service using the components of the Oracle Real-Time Decisions environment (approximately 2 hours): or similarly in this Getting Started with Oracle RTD.pdf.