The Real-Time Enterprise
Craig Conway is betting PeopleSoft's future on the real-time enterprise.Craig Conway is betting PeopleSofts future on the real-time enterprise. So, too, is TIBCOs Vivek Ranadive. Microsoft has spent millions establishing its RTE initiative, called Agile Business. Siebel is pushing forward with its impressive RTE offering, called Universal Application Network. Recent advances in real-time analytics from companies such as Teradata are adding fuel to the RTE fire. Leading IT consultancies such as Gartner now track the RTE industry. In January, a Gartner survey found more than 20 percent of CIOs at Global 2000 enterprises cited RTE as one of their top-five investment areas. Why have global leaders such as Amazon, Cisco, Dell, eBay, Federal Express, General Electric, U.S. Steel and Wal-Mart committed millions of dollars to build RTE capabilities? The RTE value proposition rests on reduced costs, operational excellence, enhanced productivity, better decision making, customer delight and loyalty, and sustainable competitive leadership. Heres an example of the RTE value proposition in action:
PJM Interconnection, a client of my company, ISM, is a regional transmission organization that plays a vital role in the U.S. electric system. PJM ensures the reliability of the largest centrally dispatched control area in North America by coordinating the movement of electricity in all or parts of Delaware, Maryland, New Jersey, Ohio, Pennsylvania, Virginia, West Virginia and the District of Columbia. PJMs members transact much of their business on PJMs Web site. Using online tools that provide real-time data about the electric system, PJM triggers the buying and selling of power among its members, arranges transmission service, schedules contract purchases, carries out business strategies and makes critical business decisions. The RTE business model lets PJM rapidly add new members and provide lower prices to customers.