Business Event Management from TIBCO - InformationWeek

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Software // Information Management

Business Event Management from TIBCO

New product for integrating and managing events for process and performance improvement.

VentanaMonitor™

Are your efforts to improve the performance of your operational events and activities significantly challenged by time delays and lack of responsiveness in your organization? If so, TIBCO has introduced Business Events, a solution that provides the ability to define, map, measure, monitor and relate events that impact operational activities. This product addresses latency issues and timeliness of information in BI data-based architectures that are typically stressed beyond their technology limits. Ventana Research asserts that organizations needing to address performance improvement challenges in operational events and activities examine how innovative technology can enable pro-active performance improvement.

Assessment
The demand on operations today has significantly grown, and with the deluge of business activities, it is accordingly hard to understand what needs to be proactively managed or reactively responded to. Activities that need to be managed can span everything from service-level agreements, compliance and customer interactions, to demanding straight-through processing in banking. As organizations begin to realize their volumes of data are growing faster than they can be analyzed, it is critical to take action and bring in more sophisticated information technology to support these challenges.

For example, there must be a more direct method to improve the value and effectiveness of the business events. Merely listening to business events is not enough. TIBCO has released a new technology called BusinessEvents that can help detect threats and opportunities in a real-time manner. This new product brings a sophisticated event-processing engine that can leverage rules and monitoring technology, and correlate potential issues through event aggregation and analytics to determine notification and resolution action.

TIBCO has developed a unique method leveraging a conceptual and state model within their platform so that events can be processed through a rules-based architecture to drive real-time notifications and resulting decisions. By defining and linking KPI's to the model, you can provide relevance to the business user so they can focus on improving operational processes and performance. Ventana Research believes event-based information architecture is becoming a requirement for all organizations in their effort to mature their IT infrastructure for business.

Market Impact
Leveraging event integration to deliver high value and relevant information for operations is now one of the newest innovations in operational performance management. As the market matures to address this topic, there will be new solutions like this from TIBCO, which will help correlate business events to operational activities and then to processes. TIBCO is elevating the importance of this by bringing new platforms and tools to event management, along with providing applications like BusinessFactor and OpsFactor to help meet specific business and operational requirements. TIBCO has built an inter-operable architecture where its products can integrate with existing investments quite easily to ensure the maximum value of IT.

Recommendation
Organizations that want to gain a competitive advantage and drive pro-active management of operational activities and processes should examine TIBCO BusinessEvents. The fundamental foundation of this technology provides a unique way to model, measure and respond to operational events. Ventana Research recommends that organizations re-examine their information architectures to ensure full leverage of event integration and management technologies, and to accelerate their ability to improve operational performance.

Related Research Notes:
Managing Events and Collaboration for Compliance Management
Enabling information technology for efficiency management of processes.
Tibco Brings Enterprise-Wide Approach to Integration and Operational Performance
New product framework to help meet business and IT requirements.

Mark Smith is CEO and Senior Vice President of Research at Ventana Research.

Ventana Research is the preeminent research and advisory services firm helping our clients maximize stakeholder value with Performance Management throughout their organizations. Putting research in a business and IT context we provide insight and education on the best practices, methodologies and technologies that enable our clients to leverage assets to understand, optimize, and align strategies and processes to meet their goals and objectives.

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