Posts tagged as:

experiment

First Look – FICO Xpress and Business Rules

February 17, 2010

Optimization is a mathematical process for finding the best decision for a given business problem – usually highest profit, lowest cost given a set of constraints. Involve applying an algorithm to data, decision variables, constraints and an objective function. In financial services and insurance optimization is still fairly new (unlike, say, supply chain) but the [...]

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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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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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Getting to Enterprise Application 2.0

August 26, 2009

On Monday I posted about Enterprise Application 2.0 and promised to return with some thoughts on how to get from Enterprise Application 1.0 to Enterprise Application 2.0. Let’s see:

Expose core elements as services
Identify and manage processes – hook up legacy and new services into new, more effective workflows
Find and automate decisions using business rules
Manage simple [...]

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How can decision management help with customer engagement?

July 30, 2009

Shantanu Narayen of Adobe recently said “Engagement is the new business mandate” and when Denise Shiffman (author of The Age of Engage) spoke at a recent CMO summit she added:
As I talk to customers, partners, and employees, it becomes increasingly clear to me that the health of a company relies on the extent to which [...]

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Going Beyond Budgeting!

May 18, 2009

I spoke last week at a conference hosted by the Beyond Budgeting Roundtable. I spoke, as you might expect, on the topic of decision management and how it can deliver the kinds of systems a modern company needs. The conference overall was on the (frankly very appealing) idea that budgets can and should be replaced [...]

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Book Review – Competing on Analytics

February 26, 2007

Competing on Analytics: The New Science of Winning by Tom Davenport and Jeanne Harris
Tom and Jeanne have written a new book (building on a paper they wrote some time ago) about what they call “analytic competitors”, that is to say companies that use their analytic prowess not just to enhance their operations but as their [...]

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