Scalable proactive event-driven decision making

Research output: Contribution to journalArticlepeer-review

Authors

  • Alexander Artikis
  • Pedro Bizarro
  • Carlos Canudas-De-Wit
  • Opher Etzion
  • Fabiana Fournier
  • Paul Goulart
  • Andrew Howes
  • John Lygeros
  • Georgios Paliouras
  • Assaf Schuster
  • Izchak Sharfman

Colleges, School and Institutes

External organisations

  • N.C.S.R. Demokritos
  • Feedzai
  • CNRS-CEA
  • Yezreel Valley College
  • HPK H27
  • Institute of Informatics and Telecommunications, NCSR Demokritos
  • Technion - Israel Institute of Technology

Abstract

Rapid social, economic, and political changes are leading factors that call for a shift in the ways we respond to continual events occurring daily. Having a proactive response, rather than a reactive response, allows decision makers to detect opportunities and threats that could affect business [6]. Eliminating or mitigating an anticipated problem, or capitalizing on a forecast opportunity, can substantially improve quality of life, and prevent environmental and economic damage. Changing traffic light policies and speed limits to avoid traffic congestion, for example, will reduce carbon emissions, optimize public transportation, and improve the productivity of commuters. Similarly, adding credit cards to watch lists as a result of forecasting fraud will reduce the cost inflicted by fraudulent activities on payment processing companies and merchants, and consequently lower credit card rates.

Details

Original languageEnglish
Article number6901314
Pages (from-to)35-41
Number of pages7
JournalIEEE Technology and Society Magazine
Volume33
Issue number3
Publication statusPublished - 1 Sep 2014

Keywords

  • Decision making, Real-time systems, Forecasting, Scalability, Economics, Big data, Event recognition, Process management

ASJC Scopus subject areas