Oracle has released a new decision management tool, Real-Time Decisions Release 3.0. The new platform reportedly delivers 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.
Oracle said that the new offering applies predictive models and business rules to optimise recommendations against specific, sometimes conflicting commercial goals, and then uses a feedback loop to provide ongoing improvements.
According to the company, the new offering helps organisations address business processes and customer interactions by optimising customer experiences with relevant cross-channel real-time recommendations and by enabling self-adaptive processes through closed-loop predictive analytics automation and the integration of business intelligence (BI) into interaction processes.
Additionally, its Decision Framework allows business users to implement enterprise decisions. The Decision Framework introduces Composite Decisions enhancement which can streamline application integration with companies’ business processes and IT architecture. Also, its batch processing enhancement is expected to unify batch decision logic into a centralised enterprise repository, enabling cross-channel deployments.
The latest release features enhancements to its Real-Time Decisions Base Application. The Base Application provides a library of pre-configured components and helps improve implementation. Other features are templates for enterprise decision management that comprises pre-configured metadata elements, and workflows that simplify integration into Oracle and non-Oracle front-end applications. Another feature is a library of reusable decision patterns that are expected to show how to take advantage of the predictive decision capabilities of the platform.
Oracle Real-Time Decisions is also available pre-integrated with its Siebel CRM e-Commerce, Siebel CRM Marketing and Siebel CRM Contact Center.
