Advanced Business Simulations: Incorporating business and process execution data

Marc Drobek*, Wasif Gilani, David Redlich, Thomas Molka, Danielle Soban

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contribution

1 Citation (Scopus)

Abstract

Key Performance Indicators (KPIs) and their predictions are widely used by the enterprises for informed decision making. Nevertheless , a very important factor, which is generally overlooked, is that the top level strategic KPIs are actually driven by the operational level business processes. These two domains are, however, mostly segregated and analysed in silos with different Business Intelligence solutions. In this paper, we are proposing an approach for advanced Business Simulations, which converges the two domains by utilising process execution & business data, and concepts from Business Dynamics (BD) and Business Ontologies, to promote better system understanding and detailed KPI predictions. Our approach incorporates the automated creation of Causal Loop Diagrams, thus empowering the analyst to critically examine the complex dependencies hidden in the massive amounts of available enterprise data. We have further evaluated our proposed approach in the context of a retail use-case that involved verification of the automatically generated causal models by a domain expert.
Original languageEnglish
Title of host publicationBusiness Modeling and Software Design
Pages119-137
Number of pages19
Volume220
DOIs
Publication statusPublished - 31 May 2015
Event4th International Symposium on Business Modeling and Software Design, BMSD 2014 - Luxembourg, Luxembourg
Duration: 24 Jun 201426 Jun 2014

Publication series

NameLecture Notes in Business Information Processing
ISSN (Print)1865-1348

Conference

Conference4th International Symposium on Business Modeling and Software Design, BMSD 2014
CountryLuxembourg
CityLuxembourg
Period24/06/201426/06/2014

Keywords

  • Business Dynamics
  • Business process simulation
  • Business Simulations
  • Key performance indicator predictions
  • Process performance parameters

ASJC Scopus subject areas

  • Management Information Systems
  • Control and Systems Engineering
  • Business and International Management
  • Information Systems
  • Modelling and Simulation
  • Information Systems and Management

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