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Business Rules
A business rule defines or constrains some aspect of business. It may be expressed to specify an action to be taken when certain conditions are true or may be phrased so it can only resolve to either true or false. Business rules are intended to assert business structure or to control or influence the behavior of the business. Business rules describe the operations, definitions and constraints that apply to an organization. Business rules can apply to people, processes, corporate behavior and computing systems in an organization, and are put in place to help the organization achieve its goals. For example, a business rule might state that ''no credit check is to be performed on return customers''. Other examples of business rules include requiring a rental agent to disallow a rental tenant if their credit rating is too low, or requiring company agents to use a list of preferred suppliers and supply schedules. While a business rule may be informal or even unwritten, documenting the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision Model And Notation
In business analysis, the Decision Model and Notation (DMN) is a standard published by the Object Management Group.OMG standard "Decision Model and Notation (DMN)"current version/ref> It is a standard approach for describing and modeling repeatable decisions within organizations to ensure that decision models are interchangeable across organizations. The DMN standard provides the industry with a modeling notation for decisions that will support decision management and business rules. The notation is designed to be readable by business and IT users alike. This enables various groups to effectively collaborate in defining a decision model: * the business people who manage and monitor the decisions, * the business analysts or functional analysts who document the initial decision requirements and specify the detailed decision models and decision logic, * the technical developers responsible for the automation of systems that make the decisions. The DMN standard can be effectively us ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business
Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with Sole proprietorship, sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process Execution Language
The Web Services Business Process Execution Language (WS-BPEL), commonly known as BPEL (Business Process Execution Language), is an OASIS standard executable language for specifying actions within business processes with web services. Processes in BPEL export and import information by using web service interfaces exclusively. Overview One can describe Web-service interactions in two ways: as executable business processes and as abstract business processes. # An ''executable business process'': models an actual behavior of a participant in a business interaction. # An ''abstract business process'': is a partially specified process that is not intended to be executed. Contrary to Executable Processes, an Abstract Process may hide some of the required concrete operational details. Abstract Processes serve a descriptive role, with more than one possible use case, including observable behavior and/or process template. WS-BPEL aims to model the behavior of processes, via a la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Rules Engine
A business rules engine is a software system that executes one or more business rules in a runtime production environment. The rules might come from legal regulation ("An employee can be fired for any reason or no reason but not for an illegal reason"), company policy ("All customers that spend more than $100 at one time will receive a 10% discount"), or other sources. A business rule system enables these company policies and other operational decisions to be defined, tested, executed and maintained separately from application code. Rule engines typically support rules, facts, priority (score), mutual exclusion, preconditions, and other functions. Rule engine software is commonly provided as a component of a business rule management system which, among other functions, provides the ability to: register, define, classify, and manage all the rules, verify consistency of rules definitions (”Gold-level customers are eligible for free shipping when order quantity > 10” and “maxi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Rule Management System
A BRMS or business rule management system is a software system used to define, deploy, execute, monitor and maintain the variety and complexity of decision logic that is used by operational systems within an organization or enterprise. This logic, also referred to as business rules, includes policies, requirements, and conditional statements that are used to determine the tactical actions that take place in applications and systems. Overview A BRMS includes, at minimum: This needs to be attributed: * A repository, allowing decision logic to be externalized from core application code * Tools, allowing both technical developers and business experts to define and manage decision logic * A runtime environment, allowing applications to invoke decision logic managed within the BRMS and execute it using a business rules engine The top benefits of a BRMS include: * Reduced or removed reliance on IT departments for changes in live systems. Although, QA and Rules testing would still be need ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Rules Approach
Business rules are abstractions of the policies and practices of a business organization. In computer software development, the business rules approach is a development methodology where rules are in a form that is used by, but does not have to be embedded in, business process management systems. The business rules approach formalizes an enterprise's critical business rules in a language that managers and technologists understand. Business rules create an unambiguous statement of what a business does with information to decide a proposition. The formal specification becomes information for process and rules engines to run. Advantages The adoption of business rules adds another tier to systems that automate business processes. Compared to traditional systems, this approach has the following major advantages, * lowers the cost incurred in the modification of business logic * shortens development time * rules are externalized and easily shared among multiple applications * changes ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process
A business process, business method or business function is a collection of related, structured activities or tasks by people or equipment in which a specific sequence produces a service or product (serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels and may or may not be visible to the customers. A business process may often be visualized (modeled) as a flowchart of a sequence of activities with interleaving decision points or as a process matrix of a sequence of activities with relevance rules based on data in the process. The benefits of using business processes include improved customer satisfaction and improved agility for reacting to rapid market change. Process-oriented organizations break down the barriers of structural departments and try to avoid functional silos. Overview A business process begins with a mission objective (an external event) and ends with achievement of the business object ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Risks
The term business risks refers to the possibility of a commercial business making inadequate profits (or even losses) due to uncertainties - for example: changes in tastes, changing preferences of consumers, strikes, increased competition, changes in government policy, obsolescence etc. Every business organization faces various risk elements while doing business. Business risk implies uncertainty in profits or danger of loss and the events that could pose a risk due to some unforeseen events in future, which causes business to fail. For example, a company may face different risks in production, risks due to irregular supply of raw materials, machinery breakdown, labor unrest, etc. In marketing, risks may arise due to fluctuations in market prices, changing trends and fashions, errors in sales forecasting, etc. In addition, there may be loss of assets of the firm due to fire, flood, earthquakes, riots or war and political unrest which may cause unwanted interruptions in the busi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Semantics Of Business Vocabulary And Business Rules
The Semantics of Business Vocabulary and Business Rules (SBVR) is an adopted standard of the Object Management Group (OMG) intended to be the basis for formal and detailed natural language declarative description of a complex entity, such as a business. SBVR is intended to formalize complex compliance rules, such as operational rules for an enterprise, security policy, standard compliance, or regulatory compliance rules. Such formal vocabularies and rules can be interpreted and used by computer systems. SBVR is an integral part of the OMG's model-driven architecture (MDA). Overview The SBVR standard defines the vocabulary and rules for documenting the semantics of business vocabularies, business facts, and business rules; as well as an XMI schema for the interchange of business vocabularies and business rules among organizations and between software tools. SBVR allows the production of business vocabularies and rules; vocabulary plus rules constitute a shared domain model wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process Modeling Notation
Business Process Model and Notation (BPMN) is a graphical representation for specifying business processes in a business process model. Originally developed by the Business Process Management Initiative (BPMI), BPMN has been maintained by the Object Management Group (OMG) since the two organizations merged in 2005. Version 2.0 of BPMN was released in January 2011, at which point the name was amended to Business Process Model ''and'' Notation to reflect the introduction of execution semantics, which were introduced alongside the existing notational and diagramming elements. Though it is an OMG specification, BPMN is also ratified as ISO 19510. The latest version is BPMN 2.0.2, published in January 2014. Overview Business Process Model and Notation (BPMN) is a standard for business process modeling that provides a graphical notation for specifying business processes in a ''Business Process Diagram'' (BPD), based on a flowcharting technique very similar to activity diagrams from U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Z Notation
The Z notation is a formal specification language used for describing and modelling computing systems. It is targeted at the clear specification of computer programs and computer-based systems in general. History In 1974, Jean-Raymond Abrial published "Data Semantics". He used a notation that would later be taught in the University of Grenoble until the end of the 1980s. While at EDF ( Électricité de France), working with Bertrand Meyer, Abrial also worked on developing Z. The Z notation is used in the 1980 book ''Méthodes de programmation''. Z was originally proposed by Abrial in 1977 with the help of Steve Schuman and Bertrand Meyer. It was developed further at the Programming Research Group at Oxford University, where Abrial worked in the early 1980s, having arrived at Oxford in September 1979. Abrial has said that Z is so named "Because it is the ultimate language!" although the name "Zermelo" is also associated with the Z notation through its use of Zermelo–Fraenkel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Rule Mining
Business rule mining is the process of extracting essential intellectual business logic in the form of business rules from packaged or legacy software applications, recasting them in natural or formal language, and storing them in a source rule repository for further analysis or forward engineering. The goal is to capture these legacy business rules in a way that the business can validate, control and change them over time. Overview Business rule mining supports a Business rules approach, which is defined as a formal way of managing and automating an organization's business rules so that the business behaves and evolves as its leaders intend. It is also commonly conducted as part of an application modernization project evolving legacy software applications to service-oriented architecture (SOA) solutions, transitioning to packaged software, redeveloping new in-house applications, or to facilitate knowledge retention and communication between business and IT professionals in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
