Commercial Intelligence Rotating Header Image

Posts under ‘Standards’

Financial industry to define standards using defeasible logic and semantic web technologies

Last week, I attended the FIBO (Financial Business Industry Ontology) Technology Summit along with 60 others. The effort is building an ontology of fundamental concepts in the financial services. As part of the effort, there is surprisingly clear understanding that for the resulting representation to be useful, there is a need for logical and rule-based [...]

Ron Ross’ Business Rule Concepts

Ron Ross was kind enough to send me a copy of his recently publishd 3rd edition of his book, Business Rule Concepts.  Ron has been at the forefront of mainstreaming business rule capture for decades.  Personally, I am most fond of his leadership in establishing the Object Management Group’s Semantics of Business Vocabulary and Rules [...]

Ontology of time in progress – amounts needed

Recent posts on money and time have produced some excellent comments and correspondence.  There is even recent OMG effort that is right on the money, at least concerning time.  For details, see the Date-Time Foundational Vocabulary RFP.  I am particularly impressed with SBVR “Foundation” Vocabularies, which I understand Mark Linehan of IBM presented last week [...]

In the names of CEP and BPM

Have you heard the one about how to drive BPM people crazy?  Ask them the question that drives CEP people crazy! Last fall, at the RuleML conference in Orlando, was the first time I heard a consensus that a standard ontology of events and processes was sorely needed.  I’ve had a number of discussions with [...]

Rules are not enough. Knowledge is core to reuse.

James Taylor’s blog today on rules being core to BPM and SOA in which he discussed reuse had a particularly strong impact on me following a trip yesterday.  During a meeting with the insurance and retail banking practice leaders at a large consulting firm, we looked for synnergies between applications related to investment and applications [...]

When Rules Meet Requirements

I am working on some tutorial material for business analysts tasked with eliciting and harvesting rules using some commercial business rules management systems (BRMS). The knowledgeable consumers of this material intuitively agree that capturing business rules should be performed by business analysts who also capture requirements. They understand that the clarity of rules is just [...]

Missing Goals and Requirements in Business Rules

Both of the following statements are true, but the first is more informative: Business Rules Management Systems (BRMS) typically produce forward chaining production rules that are interpreted by[1] a business rules engine (BRE) based on the Rete Algorithm. BRMS typically generate rules that are interpreted by a BRE. First, dropping the word “production” before “rules” [...]

Business Rules Market Maturity

Some recent correspondence with clients and prospective adopters of business rules technology indicates interested mainstream has become increasing concerned and confused by consolidation in the business rules market. On the analyst front, they read advice such as the following from Gartner:[1] As Gartner has stated, the BRE market is a volatile technology sector, and market [...]

Managing Semantics, Vocabulary and Business Rules as Knowledge

A client recently asked me for guidance in establishing a center of excellence concerning business rules within their organization. Their objectives included: Accumulate requisite skills for productive success. Establish methodologies for productive, reliable and repeatable success. Accumulate and reuse content (e.g., definitions, requirements, regulations, and policies) across implementations, departments or divisions. Establish multiple tutorial and [...]