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Is the Speed of Decision Making Accelerating? Yes

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Syndicated from ebizQ

Paul Brasch wrote a nice piece on Is the Speed of Decision Making Accelerating. He concludes, and I agree, that it is in fact doing so – the need to decide while customers are on the phone or on the website and the need for real-time systems to communicate and act instantaneously is growing fast. And, as I have argued before, this makes automating decisions ever more important. With more automated transactions and less time for people to act, the systems they use must do more of the decision making and do it faster. And Decision Management is the way to do this.

So why not just code more decisions the way we code everything else? Surely if we need things in real-time or at least ever faster then we can’t afford to do anything than just write code? Well decisions are different – they involve lots of business know-how, they are often regulated and how they are made ought to change regularly as competitors change, markets change and more. Traditional programming languages are often described as “syntactic, abbreviated and procedural” and this just won’t do for decisions. On top of which decisions need to use analytics, and embedding analytics into business rules-based decision services is just easier.

The speed of decision making is accelerating so your systems need to do more decision making. And that means decision management and decisioning technologies like business rules and predictive analytics should be on your radar.

Originally found through Smart Data Collective’s syndication

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