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CIO SUMMIT SPEAKER: Real-time information, real-time decisions

T.C. Seow | July 23, 2012
CTO of TIBCO Kevin Pool talks about envisioning information real-time, and how organisations can benefit from events-driven processing.

This is part of a special series by Fairfax Business Media Asia previewing speakers at the CIO Summit 2012.

As the CTO for the TIBCO Asia region, Kevin Pool is responsible for helping TIBCO customers envision and execute on their corporate transformation objectives. Over the past 14 years he has worked with over 50 organisations on the vision and implementation of initiatives for taking their business to new levels of capability.

We talk to Kevin regarding his upcoming presentation at CIO Summit 2012.

Kevin Pool
Kevin Pool, CTO, TIBCO

Q: What is an events-enabled platform compared to a transaction-based platform?

Kevin Pool: Transaction platforms are for securely recording an event. That is, a transaction is an event.

Event enabled platforms are for propagating event information throughout the enterprise and through the partner network so that information is updated and acted upon as the changes occur.

For example, a customer purchase is a transaction. Most people are now familiar with the concept of immediately processing the financial part in an event-driven manner. But what about other business processes that should be triggered and updated by the event?

For example, the purchase updates inventory, which could cause an event to order more inventory, which could be sent to a supplier, which could trigger an event to order more materials. Or the purchase in a brick and mortar store could update inventory which could cause an update to an internet price promotion. Or the purchase transaction could cause an offer management system to evaluate the customer profile and also store inventories to determine to offer the customer a real-time offer for a related product.

This propagation of events to associated systems to react in a real-time manner is what TIBCO calls and Event Enabled Enterprise.

How do you mean by a "two-second advantage"?

The Two Second AdvantageTM was coined by the TIBCO CEO Vivek Ranadive. The concept is that “If you have just a little bit of the right information a couple of seconds or minutes in advance, its more valuable than all the information in the world six months after the fact”.

TIBCO's platform sounds like a major shift in how business should be thought of. How easy can businesses adapt your approach?

Shifting from cyclic, scheduled and polling based IT processing to an Event Enabled Enterprise can be a big shift for some organizations. TIBCO works with customers to define an evolutionary strategy for generating events, distributing events, correlating and evaluating events, and reacting to events.

Typically this is not accomplished in one big bang step, but rather it as a different way at approaching business initiatives to incrementally provide immediate business value while putting the organization on a roadmap to achieve longer term strategic objectives.

 

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