New Ways to Represent Business Knowledge in IT Systems

    /24-7PressRelease/ - WALLSEND, NSW, AUSTRALIA, February 01, 2007 - Object Connections has released version 3.0 of Common Knowledge, a cross-platform business rules management system and rules engine that enables organisations to regain control of the business rules embedded within their information systems. Business rules determine how insurance companies calculate premiums, how banks manage risk, how finance companies balance portfolios, and how retailers manage pricing models. They allow pathologists to identify abnormalities, engineers to plan maintenance, logistics companies to generate schedules and financial advisors to recommend investment strategies. As such, business rules are one of an organisation's most valuable, yet least leveraged assets. They are strategic to the successful operation of all organisations.

Modern software applications must be flexible in adapting to the challenges of dynamic business models and processes. Too often it is expensive and time-consuming to modify these applications, restricting the ability of an organisation to rapidly evolve their business processes. Common Knowledge tackles these issues directly, allowing business knowledge to be externally represented and managed in formats that are flexible and intuitive for both business analysts and technical specialists alike. The Common Knowledge approach encourages closer collaboration between business stakeholders and software developers by providing a common language and platform with which to communicate the operational complexities of their organisation.

In keeping with the Common Knowledge philosophy, that no single format can adequately represent all business rule requirements, version 3.0 of Common Knowledge includes an exciting new range of formats. In addition to the traditional decision tables, decision trees and scripting formats, Common Knowledge opens up new opportunities with the introduction of rete rules, workflows, decision grids, lookup tables, flowcharts and state maps. These new formats, in conjunction with existing formats, ensure that the business rules designer has a rich set of tools available for the construction of expressive and effective business solutions.

Common Knowledge version 3.0 is available now from Object Connections via their website at www.objectconnections.com, or by contacting the company directly.

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