Oracle Real-Time Decision
I came across Oracle Real-Time Decision (RTD) only recently although this product has been part of Oracle BI product family since Sigma Dynamics acquisition in 2006. I was on the bench and skilled up my Oracle BI products after a year working in a project with no time to do any training.
RTD is called by several name: 'a closed-loop recommendation engine', 'predictive analytic tool','real-time decision engine' and many more. I personally like the 'decision engine' name as it's actually a decision learning engine with low latency processing so it can make a decision in real-time.
There are plenty of blogs about RTD. You will find that Rittman Mead blog has the most entries on the subject (as per other Oracle BI products - I have been told that they have a special relationship with Oracle that they can get the first hand experience of the products before Oracle released them to the public), they can be found here and search for 'Oracle Real-Time Decision' or 'Real-Time Decision'. Mark Rittman himself demonstrated the use of Oracle RTD in a business use case. The other blogs that contain alot of interesting stuffs of RTD are: John Taylor on Everything Decision Management and Lukas Vermeer blog. Of course, you will find plenty more good stuffs about it on the Oracle RTD official web page.
I found several high profile customers during my research on this product. The customers are apparently very happy and the projects met the business cases that drove the projects in the first place. Here are some of them:
- Dell
I believe there several projects but the focus is to deliver the products and services personalisation to their customers.
- Betfair
This online gaming company uses RTD to personalise their online gaming contents and offered the betting products according to 300 customer data items.
- BT
BT and Oracle developed a fraud detection framework for online transaction applications.
Historically RTD is used for cross selling products/services. Siebel was a prominent OEM partner in 2005 and embedded RTD into their real-time marketing module. Now a day, RTD can be used practically on all the business activities that required decisions. Obviously the decisions are derived from a defined and formulated business rules against performance goals (KPIs). One of the case study I found on the net that is not related to products/services offering is RTD implementation for copper mining company in Chile. It uses RTD to optimise their production processes by analysing the production plan.
RTD is also a learning engine in which it takes the feedbacks of the options offered and feeds them into the model. The process helps to refine the decision or helps it making better decisions. The more it learns the better it predicts the outcomes. Thus this is where big data comes into play. We can potentially integrate the big data with RTD. Obviously this is a separate topic and I shall cover it in the next post.
RTD is called by several name: 'a closed-loop recommendation engine', 'predictive analytic tool','real-time decision engine' and many more. I personally like the 'decision engine' name as it's actually a decision learning engine with low latency processing so it can make a decision in real-time.
There are plenty of blogs about RTD. You will find that Rittman Mead blog has the most entries on the subject (as per other Oracle BI products - I have been told that they have a special relationship with Oracle that they can get the first hand experience of the products before Oracle released them to the public), they can be found here and search for 'Oracle Real-Time Decision' or 'Real-Time Decision'. Mark Rittman himself demonstrated the use of Oracle RTD in a business use case. The other blogs that contain alot of interesting stuffs of RTD are: John Taylor on Everything Decision Management and Lukas Vermeer blog. Of course, you will find plenty more good stuffs about it on the Oracle RTD official web page.
I found several high profile customers during my research on this product. The customers are apparently very happy and the projects met the business cases that drove the projects in the first place. Here are some of them:
- Dell
I believe there several projects but the focus is to deliver the products and services personalisation to their customers.
- Betfair
This online gaming company uses RTD to personalise their online gaming contents and offered the betting products according to 300 customer data items.
- BT
BT and Oracle developed a fraud detection framework for online transaction applications.
Historically RTD is used for cross selling products/services. Siebel was a prominent OEM partner in 2005 and embedded RTD into their real-time marketing module. Now a day, RTD can be used practically on all the business activities that required decisions. Obviously the decisions are derived from a defined and formulated business rules against performance goals (KPIs). One of the case study I found on the net that is not related to products/services offering is RTD implementation for copper mining company in Chile. It uses RTD to optimise their production processes by analysing the production plan.
RTD is also a learning engine in which it takes the feedbacks of the options offered and feeds them into the model. The process helps to refine the decision or helps it making better decisions. The more it learns the better it predicts the outcomes. Thus this is where big data comes into play. We can potentially integrate the big data with RTD. Obviously this is a separate topic and I shall cover it in the next post.
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