Real-Time Monitoring Of Business Impact Of Information Quality
Publication Date: 2014-Jan-09
The IP.com Prior Art Database
Disclosed is a method for generating impact events, due to poor information quality, on business processes and applications and real-time monitoring of such events by aggregating the events into Key Performance Indicators (KPIs) and further generating alerts when KPIs exceed a specified tolerance level.
Page 01 of 3
-Time Monitoring Of Business Impact Of Information Quality
Time Monitoring Of Business Impact Of Information Quality
Business solutions, such as business processes and applications, are dependent on having access to quality business information that is managed via Information Management Systems. These solutions may fail without valid information, or information for which quality is not ensured. Typically, such business information is stored and managed by an Information Management System that stores this information in a persistent store such as databases and file-systems. Most Information Management Systems also implement various information quality management schemes to avoid storing inconsistent and/or invalid data.
Most businesses have little visibility or understanding of the quality of information for business data, without performing periodic information analysis and having a good
understanding of how specific information quality issues can affect business performance. For example, when a claim is rejected due to invalid data, the healthcare provider has to follow an ad hoc, manual process to correct this information, and resubmit the claims. Not only is overhead incurred in correcting information and resubmitting claims using a manual process and payment delayed with an impact on revenue and cash flow, but also the incorrect data are propagated to other systems. Therefore, it is important to understand this impact early, and rectify the data quality issues before significant business impact and recovery overhead are incurred. Unfortunately, it is not always possible to anticipate all types of quality issues and the associated impact on business applications before data is created/entered into the business information stores.
Information (or Data) Quality is a well-known discipline with many examples of software solutions. These solutions consistently take the approach of evaluating a specific condition or rule against specific pieces of data. For example, a rule may indicate that
a given field such as membership ID must exist. When executed in an engine against the data source, the results indicate the number of records where the condition was met and the number where the condition was not met. While such solutions provide insight into the state of a given data source or into the consistency of information between several data sources, the current solutions do not provide insight or information on the impact of such conditions on the business processes and applications which use such information.
Key Performance Indicators (KPIs) are well-known measurements of specific business results and are known as performance metrics, business indicators, and performance ratios. KPIs may be common across industries or specific to certain industries. Such indicators reflect specific business states, which may be captured and stored in one or
multiple data sources, and may be presented as a dashboard or a report through Informatio...