Posts tagged as:

decision making

Predictive analytics – some tips

March 5, 2010

Syndicated from BeyeNetwork
In a great post on 8 things to keep in mind on predictive analytics, some folks from Diamond Management & Technology laid out some things to keep in mind that I really liked. Here they are with my comments – you can get more detail on each from the series of posts [...]

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A story about the power of rules to improve analytic decisions

March 2, 2010

I was traveling in South Africa last week (keynoting BI 2010) and my favorite online payment system demonstrated not once but twice, why business rules are so valuable in analytic decision making. First their analytics triggered a fraud alert – presumably based on patterns of problems from South African IP addresses. As I was trying [...]

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Risk by risk – a decision-centric approach to risk management

February 15, 2010

Syndicated from Smart Data Collective
Risk management is an important topic for many organizations, especially those in financial services. Most of these organizations acquire risk one customer, one transaction at a time – this customer is not going to be able to pay (risk), this transaction is fraudulent (risk), this deal will [...]

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Decision points

February 10, 2010

Syndicated from ebizQ
My friend Jerome had a post this week on finding decision points – the spots in a business process where you make a decision – that was prompted by discussions he and I had with a joint client. Jerome focuses on certain kinds of activities and the words that describe them like analyze, [...]

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A decision-centric platform supports collaboration

January 29, 2010

Syndicated from ebizQ
This week I am discussing the characteristics of a decision-centric platform.
Finally the platform must allow effective collaboration between all the various groups involved in decision making. The IT department that runs the operational systems, the business people who make decisions and set policy, the executives who drive strategy and even the analytic team [...]

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A decision-centric platform delivers traceability

January 28, 2010

Syndicated from ebizQ
This week I am discussing the characteristics of a decision-centric platform.
Because compliance is essential in decision making, the traceability of decisions and decision making logic to the organization’s objectives, regulations and policies is essential. Business users changing decision making must understand how that change will impact the organization, how it supports the organization’s [...]

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Operational decision making as a corporate asset

January 27, 2010

Syndicated from Smart Data Collective
I often tell companies and other organizations that they should treat decisions and decision making as assets. In Smart (Enough) Systems, the book I wrote with Neil Raden, we said
Operational Decision Making as a Corporate Asset
If operational decisions must be made well for your organization to deliver on its strategy, they [...]

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A decision-centric platform supports automation

January 26, 2010

Syndicated from ebizQ
This week I am discussing the characteristics of a decision-centric platform.
Decision-centric organizations try to automate decisions where possible so any platform must allow the automation of decisions. Plugging decisions into high throughput, rapid response, transactional systems must be possible and real-time decision making supported. In addition the platform must provide automated support for [...]

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Book Review – Analytics at Work

January 26, 2010

I received a pre-release copy of Tom Davenport’s new book Analytics at Work: Smarter Decisions, Better Results. The book is a follow-on to Competing on Analytics (reviewed here) and is a shorter, pithier book than its predecessor. Once again Tom collaborates with Jeanne Harris and this time Robert Morison of the Concours group. Where the [...]

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Decision-centric organizations focus on decisions

January 20, 2010

Syndicated from ebizQ
The first critical characteristic of a decision-centric organization, obviously enough, is a focus on decisions instead of processes or functions. The decisions an organization makes, the actions it selects from the possible alternatives are critical. Decisions are what make strategy real and drive results and performance against metrics. Implementing a strategy defined at [...]

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A decision-centric organization

January 19, 2010

Syndicated from ebizQ
This week I thought I would write about decision-centric organizations. Organizations face many challenges in today’s business climate. Organizations whose success or failure is determined by the decisions they make (which claims to pay, which customers to target, which transactions to investigate for fraud) are handicapped by systems that are centered on processes [...]

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First Look – Aha

January 14, 2010

I got a chance to catch up with Aha! recently. Aha! is based in the Denver Tech Center and was founded back in 2006. Aha!’s premise is that it is now possible to build analytics into a platform and to focus on how to operationalize predictive models and deliver analytics within business processes. Initial customers [...]

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A predictive enterprise

December 18, 2009

Syndicated from ebizQ
I was reading an old SPSS presentation the other day and found a great definition of a Predictive Enterprise:
A predictive enterprise:

Derives maximum value from its data assets
Understands its business by gaining deep insight
Leverages advanced analytics to predict outcomes
Turns this knowledge into action to optimize decision making across all areas of its operations

I [...]

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Make Better Decisions

November 17, 2009

Tom Davenport published a new article recently in the Harvard Business Review titled Make Better Decisions. In it he gives some examples of bad decisions and asks why this decision-making disorder?
First, because decisions have generally been viewed as the prerogative of individuals—usually senior executives. The process employed, the information used, the logic relied on, have [...]

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Smarter systems for uncertain times – #brf keynote

November 5, 2009

I gave a keynote at the Business Rules Forum today on Smarter systems for uncertain times.  I gave the presentation without slides and had planned to use my notes as a post but, as the notes ran to 5,000 words, I have decided to write a white paper based on them instead!
To keep you going [...]

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Business Rules Forum 2009 – Day 2 #brf

November 4, 2009

The second full day of the Business Rules Forum/Enterprise Decision Management Summit is over and once again I have been taking notes rather than blogging live. Once again there were some great sessions – today I heard Steve Hendrick of IDC, Sandeep Gupta of Equifax, Chaitan Sharma of DAASL, Zach Springborn of OneData and Mo [...]

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Malcolm Gladwell and judgment in an age of uncertainty #PBLS

October 29, 2009

Malcolm Gladwell took the stage to present next. Malcolm is the author of some great books (such as Blink, reviewed here, and Outliers). Gladwell began by noting that Vegas seems an odd place to hold a conference on analytics!
His first story was about art – a dealer brings a new statue to the Getty, a [...]

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Analytics in the executive suite – a #PBLS panel

October 28, 2009

Syndicated from BeyeNetwork
I am at the Premier Business Leadership Series, SAS/BetterManagement.com’s event, and I got to attend a great panel on Analytics in the Executive Suite. Barbara Pindar of Aeropostale, Eric Webster of State Farm Insurance, Cameron Davies of Disney and Keith Collins of SAS made up the panel. Each panelist gave [...]

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SAS customers and optimization

October 27, 2009

Next up in my SAS day was a panel on optimization. Bobby Hull of BGF Industries and Bill Nowicki of the Carolina Hurricanes were joined by Larry Mosiman of SAS on a panel hosted by Tammi Kay George. BGF is a leader in high-end composites and textiles. The Carolina Hurricanes, of course, are an NHL [...]

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Some thoughts on rules, decisions, agility and more

October 9, 2009

Syndicated from ebizQ
I got an interesting comment on my recent post about the top 4 concerns of CIOs.
Joanne makes a number of points in her comment that I thought should be addressed:
a business rules engine is not nearly enough. What is needed instead is a means to model manage and measure the impact of a [...]

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