NEWS/EVENTS
OpenConnect Signs Agreement for Joint Business Process Improvement Research at Prominent Belgian University
Five-Year Initiative with Katholieke Universiteit Leuven (Belgium) designed to Discover New Automated Process Improvement Methods
DALLAS - March 26,2007 - OpenConnect, a provider of solutions that turn information technology assets into business value, is funding a five-year joint research initiative with Katholieke Universiteit Leuven (K.U. Leuven, Belgium) to discover and refine new methods for automated business process discovery. The goal of the research study is to determine new mathematical systems for business analytics that will diagnose the root cause of process inefficiencies within any type of organization.
Business intelligence emerged more than 20 years ago and has evolved into a ‘must have’ technology for reporting what is happening within an organization’s systems. Yet current BI applications are merely the tip of the iceberg in terms of understanding all of the information moving below the surface of an organization’s operations.
The next level of understanding is the emerging field of business process analytics, which allows organizations to view, analyze and adjust the underlying structure and processes that go into day-to-day operations. This includes all of the components of a business process, including technology, people, department procedures and protocols.
Current mathematical and scientific methods for business analysis and data mining are not always suited for evaluating the level of detail required to analyze unstructured data and the human dynamics of business processes. There is a tremendous need to investigate this further to determine scientifically valid approaches to business analytics technology.
“The research community has spent the last 20 years developing formulas that have evolved into today’s business intelligence technology. The challenge, however, is that BI is still based on standard principles of data mining, which is not always suitable for evaluating the complex universe of information tied to organizational processes,” said Professor Dr. Guido Dedene, of the Decision Sciences and Information Management Group and holder of the OpenConnect Chair at K.U.Leuven. “We’re very excited to work with OpenConnect to further our research efforts and to generate reliable, scientific methods for the emerging business process discovery and intelligence space.”
OpenConnect is at the forefront of this technology paradigm. Its Comprehend TM product records the attributes (who, what, where, when, etc) and relationships of all the events and processes occurring within an organization’s systems to determine the root cause of business inefficiencies. By partnering with K.U. Leuven, OpenConnect will gain a better understanding of how the analysis of organizational processing must evolve to remain at the forefront of cutting edge analytics, thus driving efforts for future product development.
“Understanding the actual quantified facts that both comprise and effect processes performance is the key to unlocking the hidden potential in your business,” said Edward Peters, CEO of OpenConnect. “When organizations understand the root cause of their process inefficiencies, they are able to make targeted adjustments that will lead to better company performance overall. We are partnering with Leuven to help discover the best methods for diagnosing business process inefficiencies and determining effective improvement efforts that enhance the financial performance of the organization.”
About OpenConnect
OpenConnect is the premier supplier of technology solutions that turn information technology assets into business value. With a rich history of innovations in both mainframe and Web technologies, OpenConnect helps the world's largest and most complex organizations comprehend, configure and securely connect to their mainframe applications and data through Web-based architectures. OpenConnect's solutions save companies time and money, improve return on legacy technology investments and minimize the risk of expansion into the online realm. OpenConnect's products are distributed in more than 60 countries and used by more than 60 percent of Fortune 100 companies. For more information on OpenConnect, visit www.oc.com.
About Katholieke Universiteit Leuven
Situated at the heart of Western Europe, K.U.Leuven has been a centre of learning for almost six centuries. Founded in 1425 by Pope Martin V, K.U.Leuven bears the honour of being the oldest Catholic university, as well as the oldest university in the Low Countries. At present, K.U. Leuven caters to more than 31,000 students, around 12% of whom are international students from more than 120 nations. K.U. Leuven has conducted education and research programs in Business Information Systems for more than 30 years.
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