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Towards Proactive Enterprise Intelligence
Prof. Gregoris Mentzas
Director, Information Management Unit
National Technical University of Athens

www.imu.ntua.gr
gmentzas@mail.ntua.gr
twitter: gmentzas




                     FInES Workshop, Future Internet Assembly
                         Aalborg, Denmark, 9th May, 2012
Information Management Unit / ICCS of NTUA                          www.imu.iccs.gr




Everything generates data




       Future Internet Assembly, Aalborg, Denmark   9th May, 2012       2
Information Management Unit / ICCS of NTUA   www.imu.iccs.gr
Information Management Unit / ICCS of NTUA                                                                www.imu.iccs.gr




Enterprise ‘Big Data’




                                                                                              Source: McKinsey
                                                                                              Global Institute (2011)


   A 2011 study by MIT found that effective use of data and analytics correlated
    with a 5 to 6 percent improvement in productivity, profitability & market value.
         Erik Brynjolfsson, Lorin M. Hitt, and Heekyung Hellen Kim, “Strength in numbers: How does data-driven decision making
          affect firm performance?” Social Science Research Network (SSRN), April 2011.

         Future Internet Assembly, Aalborg, Denmark                 9th May, 2012                                4
Information Management Unit / ICCS of NTUA                            www.imu.iccs.gr




Proactive enterprise capabilities


   Ability for early recognition and exploitation of
    opportunities.
      ability to act agilely to changes in demand for a product
      respond to an emerging customer need




   Ability to alter the likelihood that negative
    outcomes will occur by intervening prior to their
    occurrence
      prevent the loss of a customer to a competitor
      initiate measures to mitigate costs of interruptions in
       processes


         Future Internet Assembly, Aalborg, Denmark   9th May, 2012       5
Information Management Unit / ICCS of NTUA                                 www.imu.iccs.gr




Challenges for Proactive Enterprise Intelligence




                                                           Fuzzy
                                Predictive
                                                          Decision-
                                Analytics
                                                           making




                                                Process
                                                Agility




       Future Internet Assembly, Aalborg, Denmark          9th May, 2012       6
Information Management Unit / ICCS of NTUA                                 www.imu.iccs.gr




Challenges for Proactive Enterprise Intelligence




                                                           Fuzzy
                                Predictive
                                                          Decision-
                                Analytics
                                                           making




                                                Process
                                                Agility




       Future Internet Assembly, Aalborg, Denmark          9th May, 2012       7
Information Management Unit / ICCS of NTUA                                 www.imu.iccs.gr




From Business Analytics to Predictive Analytics

   Next generation analytics will expand beyond measuring and
    describing the past to predicting what is likely to happen, and
    optimizing what should happen




   Need for analytic tools that are self-directed
        Unlike services triggered by a person, a device or software application
   and implement continuous intelligence
        they run nonstop and incorporate mobile, social and collaborative consumer
         interactions


         Future Internet Assembly, Aalborg, Denmark   9th May, 2012                8
Information Management Unit / ICCS of NTUA                                        www.imu.iccs.gr




   Source: Gartner (2012) “Advanced Analytics: Predictive, Collaborative and Pervasive” Feb. 2012

        Future Internet Assembly, Aalborg, Denmark    9th May, 2012                     9
Information Management Unit / ICCS of NTUA                            www.imu.iccs.gr




Research Challenges for Predictive Analytics

   Future Internet Enterprises need to
        be able to adopt data-driven processes in order to comprehend and
         predict changes in their business environment.


   Research challenges include:
        Big Data and Text Analytics
        Social Network mining
        Predictive modelling
        Machine learning techniques
        Processing of structured and unstructured data
        Semantic services based on big and linked data




         Future Internet Assembly, Aalborg, Denmark   9th May, 2012       10
Information Management Unit / ICCS of NTUA                                                www.imu.iccs.gr




     Bothos, E., D. Apostolou, G. Mentzas (2010) Using Social Media to Predict Future Events with Agent-based
      Markets, IEEE Intelligent Systems, November-December, 2010,May,50-58
            Future Internet Assembly, Aalborg, Denmark          9th pp. 2012                         11
Information Management Unit / ICCS of NTUA                                   www.imu.iccs.gr




Challenges for Proactive Enterprise Intelligence




                                                              Fuzzy
                               Predictive
                                                             Decision-
                               Analytics
                                                              making




                                                   Process
                                                   Agility




      Future Internet Assembly, Aalborg, Denmark             9th May, 2012       12
Information Management Unit / ICCS of NTUA                             www.imu.iccs.gr




The inherent uncertainty of proactive business

   Predicting business issues cannot lead to exact solutions

   Uncertainty whether a business situation actually occurred or on
    the predicted value of a specific information item, increases the
    need for adopting probabilistic approaches



                                         Augmenting decision-making processes
                                          with fuzzy and linguistic approaches




       Future Internet Assembly, Aalborg, Denmark   9th May, 2012          13
Information Management Unit / ICCS of NTUA                                  www.imu.iccs.gr




Research Challenge III: Fuzzy Decision Making

   Research challenges to augment decision-making:
     Uncertain data management
     Fuzzy Multiple-Criteria Evaluation
     Probabilistic multi-criteria decision making
              e.g. Hidden Markov processes, Bayesian Belief Networks etc
       Statistical inference and learning approaches
              e.g. Markov Decision Processes, Markov Learning Networks
       Fuzzy Semantic Web techniques
       Linguistic modeling techniques




        Future Internet Assembly, Aalborg, Denmark   9th May, 2012              14
Information Management Unit / ICCS of NTUA                                                 www.imu.iccs.gr




    Fuzzy linguistic approaches in service selection




     Patiniotakis, I., D. Apostolou, G. Mentzas (2011) Fuzzy UTASTAR: A method for discovering utility
      functions from fuzzy data, Expert Systems with Applications, Vol. 38, 12, Nov-Dec 2011, 15463-15474
     Patiniotakis, I., D. et al (2012) Linguistic Multi-criteria Decision Making for Web service Selection, ICCS
      working paper, 2012
            Future Internet Assembly, Aalborg, Denmark             9th May, 2012                      15
Information Management Unit / ICCS of NTUA                                   www.imu.iccs.gr




Challenges for Proactive Enterprise Intelligence




                                                              Fuzzy
                               Predictive
                                                             Decision-
                               Analytics
                                                              making




                                                   Process
                                                   Agility




      Future Internet Assembly, Aalborg, Denmark             9th May, 2012       16
Information Management Unit / ICCS of NTUA                            www.imu.iccs.gr




Integrating analytics for agile process flows

   Predictive capability as a mode of operation used to rapidly
    produce analytical information based on event data from
    business processes in order to support decision making
        Businesses aim to use analytics for business process innovation and
         differentiation


   Organizations effective in the integration of predictive analytic
    capabilities and fuzzy decision making within business
    processes will be seeing lower costs and greater business
    impact




         Future Internet Assembly, Aalborg, Denmark   9th May, 2012       17
Information Management Unit / ICCS of NTUA                            www.imu.iccs.gr




Research Challenges for Process Agility

   Process agility represents a set of techniques and technologies
    that incorporate BPM, Complex Event Processing, and
    Artificial Intelligence

   Research challenges include:
        Semantics in event-driven processing
        Event stream processing in business processes
        Events in human-oriented tasks
        Event-driven business process management
        Context perception and situational awareness
        Situation-driven process adaptation
        Goal-oriented event-driven process agility




         Future Internet Assembly, Aalborg, Denmark   9th May, 2012       18
Information Management Unit / ICCS of NTUA                                                   www.imu.iccs.gr




                     Process agility in logistics
       Logistics managers are tapping early capabilities to get knowledge of changing
       conditions and increase their ability to make proactive route adjustments




     Patiniotiakis, I., et al (2011) A Framework for Situation-Aware Adaptation of Service-Based Applications, 4th
      European ServiceWave Conference, Poznan, 26-28 /10/11
     Magoutas, B. D. Apostolou, G. Mentzas (2012) An event-driven Framework for Business Awareness
      Management, ICCS working paper, February 2012
Information Management Unit / ICCS of NTUA                                   www.imu.iccs.gr




Challenges for Proactive Enterprise Intelligence




                                                          Fuzzy
                                Predictive               Decision-
                                Analytics                 making




                                                   Process
                                                   Agility




      Future Internet Assembly, Aalborg, Denmark             9th May, 2012       20
Information Management Unit / ICCS of NTUA                            www.imu.iccs.gr




Capabilities of Proactive Enterprise Intelligence

   Capability to reveal insights and extract -
    previously hidden – meaningful patterns from
    structured and unstructured ‘big data’ from a
    multitude of sources
               sensors and actuators embedded in objects
               customer transactions
               social interactions, GPS trails, etc.


   Capability to be proactive, i.e. to be able to
    develop predictions and implement
    respective actions
      recognize possible opportunities or threats
      before these actually happen and
      trigger appropriate actions


         Future Internet Assembly, Aalborg, Denmark   9th May, 2012       21
Thank you for your attention!
                                          http://www.imu.ntua.gr



Contact
Prof. Gregoris Mentzas
Director, Information Management Unit
National Technical University of Athens

W:         www.imu.ntua.gr
E:         gmentzas@mail.ntua.gr

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P3 4-gregoris mentzas

  • 1. Towards Proactive Enterprise Intelligence Prof. Gregoris Mentzas Director, Information Management Unit National Technical University of Athens www.imu.ntua.gr gmentzas@mail.ntua.gr twitter: gmentzas FInES Workshop, Future Internet Assembly Aalborg, Denmark, 9th May, 2012
  • 2. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Everything generates data Future Internet Assembly, Aalborg, Denmark 9th May, 2012 2
  • 3. Information Management Unit / ICCS of NTUA www.imu.iccs.gr
  • 4. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Enterprise ‘Big Data’ Source: McKinsey Global Institute (2011)  A 2011 study by MIT found that effective use of data and analytics correlated with a 5 to 6 percent improvement in productivity, profitability & market value.  Erik Brynjolfsson, Lorin M. Hitt, and Heekyung Hellen Kim, “Strength in numbers: How does data-driven decision making affect firm performance?” Social Science Research Network (SSRN), April 2011. Future Internet Assembly, Aalborg, Denmark 9th May, 2012 4
  • 5. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Proactive enterprise capabilities  Ability for early recognition and exploitation of opportunities.  ability to act agilely to changes in demand for a product  respond to an emerging customer need  Ability to alter the likelihood that negative outcomes will occur by intervening prior to their occurrence  prevent the loss of a customer to a competitor  initiate measures to mitigate costs of interruptions in processes Future Internet Assembly, Aalborg, Denmark 9th May, 2012 5
  • 6. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Challenges for Proactive Enterprise Intelligence Fuzzy Predictive Decision- Analytics making Process Agility Future Internet Assembly, Aalborg, Denmark 9th May, 2012 6
  • 7. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Challenges for Proactive Enterprise Intelligence Fuzzy Predictive Decision- Analytics making Process Agility Future Internet Assembly, Aalborg, Denmark 9th May, 2012 7
  • 8. Information Management Unit / ICCS of NTUA www.imu.iccs.gr From Business Analytics to Predictive Analytics  Next generation analytics will expand beyond measuring and describing the past to predicting what is likely to happen, and optimizing what should happen  Need for analytic tools that are self-directed  Unlike services triggered by a person, a device or software application  and implement continuous intelligence  they run nonstop and incorporate mobile, social and collaborative consumer interactions Future Internet Assembly, Aalborg, Denmark 9th May, 2012 8
  • 9. Information Management Unit / ICCS of NTUA www.imu.iccs.gr  Source: Gartner (2012) “Advanced Analytics: Predictive, Collaborative and Pervasive” Feb. 2012 Future Internet Assembly, Aalborg, Denmark 9th May, 2012 9
  • 10. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Research Challenges for Predictive Analytics  Future Internet Enterprises need to  be able to adopt data-driven processes in order to comprehend and predict changes in their business environment.  Research challenges include:  Big Data and Text Analytics  Social Network mining  Predictive modelling  Machine learning techniques  Processing of structured and unstructured data  Semantic services based on big and linked data Future Internet Assembly, Aalborg, Denmark 9th May, 2012 10
  • 11. Information Management Unit / ICCS of NTUA www.imu.iccs.gr  Bothos, E., D. Apostolou, G. Mentzas (2010) Using Social Media to Predict Future Events with Agent-based Markets, IEEE Intelligent Systems, November-December, 2010,May,50-58 Future Internet Assembly, Aalborg, Denmark 9th pp. 2012 11
  • 12. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Challenges for Proactive Enterprise Intelligence Fuzzy Predictive Decision- Analytics making Process Agility Future Internet Assembly, Aalborg, Denmark 9th May, 2012 12
  • 13. Information Management Unit / ICCS of NTUA www.imu.iccs.gr The inherent uncertainty of proactive business  Predicting business issues cannot lead to exact solutions  Uncertainty whether a business situation actually occurred or on the predicted value of a specific information item, increases the need for adopting probabilistic approaches  Augmenting decision-making processes with fuzzy and linguistic approaches Future Internet Assembly, Aalborg, Denmark 9th May, 2012 13
  • 14. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Research Challenge III: Fuzzy Decision Making  Research challenges to augment decision-making:  Uncertain data management  Fuzzy Multiple-Criteria Evaluation  Probabilistic multi-criteria decision making  e.g. Hidden Markov processes, Bayesian Belief Networks etc  Statistical inference and learning approaches  e.g. Markov Decision Processes, Markov Learning Networks  Fuzzy Semantic Web techniques  Linguistic modeling techniques Future Internet Assembly, Aalborg, Denmark 9th May, 2012 14
  • 15. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Fuzzy linguistic approaches in service selection  Patiniotakis, I., D. Apostolou, G. Mentzas (2011) Fuzzy UTASTAR: A method for discovering utility functions from fuzzy data, Expert Systems with Applications, Vol. 38, 12, Nov-Dec 2011, 15463-15474  Patiniotakis, I., D. et al (2012) Linguistic Multi-criteria Decision Making for Web service Selection, ICCS working paper, 2012 Future Internet Assembly, Aalborg, Denmark 9th May, 2012 15
  • 16. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Challenges for Proactive Enterprise Intelligence Fuzzy Predictive Decision- Analytics making Process Agility Future Internet Assembly, Aalborg, Denmark 9th May, 2012 16
  • 17. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Integrating analytics for agile process flows  Predictive capability as a mode of operation used to rapidly produce analytical information based on event data from business processes in order to support decision making  Businesses aim to use analytics for business process innovation and differentiation  Organizations effective in the integration of predictive analytic capabilities and fuzzy decision making within business processes will be seeing lower costs and greater business impact Future Internet Assembly, Aalborg, Denmark 9th May, 2012 17
  • 18. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Research Challenges for Process Agility  Process agility represents a set of techniques and technologies that incorporate BPM, Complex Event Processing, and Artificial Intelligence  Research challenges include:  Semantics in event-driven processing  Event stream processing in business processes  Events in human-oriented tasks  Event-driven business process management  Context perception and situational awareness  Situation-driven process adaptation  Goal-oriented event-driven process agility Future Internet Assembly, Aalborg, Denmark 9th May, 2012 18
  • 19. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Process agility in logistics Logistics managers are tapping early capabilities to get knowledge of changing conditions and increase their ability to make proactive route adjustments  Patiniotiakis, I., et al (2011) A Framework for Situation-Aware Adaptation of Service-Based Applications, 4th European ServiceWave Conference, Poznan, 26-28 /10/11  Magoutas, B. D. Apostolou, G. Mentzas (2012) An event-driven Framework for Business Awareness Management, ICCS working paper, February 2012
  • 20. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Challenges for Proactive Enterprise Intelligence Fuzzy Predictive Decision- Analytics making Process Agility Future Internet Assembly, Aalborg, Denmark 9th May, 2012 20
  • 21. Information Management Unit / ICCS of NTUA www.imu.iccs.gr Capabilities of Proactive Enterprise Intelligence  Capability to reveal insights and extract - previously hidden – meaningful patterns from structured and unstructured ‘big data’ from a multitude of sources  sensors and actuators embedded in objects  customer transactions  social interactions, GPS trails, etc.  Capability to be proactive, i.e. to be able to develop predictions and implement respective actions  recognize possible opportunities or threats  before these actually happen and  trigger appropriate actions Future Internet Assembly, Aalborg, Denmark 9th May, 2012 21
  • 22. Thank you for your attention! http://www.imu.ntua.gr Contact Prof. Gregoris Mentzas Director, Information Management Unit National Technical University of Athens W: www.imu.ntua.gr E: gmentzas@mail.ntua.gr