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micro decision

One of my students (from the UCI Extension Predictive Analytics Certificate in which I teach Business Goals for Predictive Analytics) sent me this article on Toyota Financial Services and its use of data science, predictive analytics, in collections. It’s a great example of how to use analytics to improve your business outcomes and well worth a [...]

I am speaking at IBM Insight on Customer-Centric Enterprises Leverage IBM ODM Advanced to React Accurately to Risks and Opportunities at 1:45pm Pacific in Mariners B. Business rules combined with predictive analytics address a proven solution to a wide array of traditional business problems where micro decisions are to be made about individual customers at well [...]

I am giving a live webinar on March 17, 2014 “Nurture Customer Loyalty With Personalized Messages and Channel Alignment.”  There’s a free 10-minute preview segment now available – View Free Preview   As more customers use more channels it’s challenging to deliver personalized, targeted messages across channels and over time. To meet this challenge, organizations should focus on the right [...]

I am giving a webinar on Nurture Customer Loyalty With Personalized Messages and Channel Alignment for the Association of Strategic Marketing on March 17 at 1:00pm Eastern More customers are using more channels and with the growth in mobile and other automated channels it’s challenging to deliver personalized, targeted messages across channels and over time. One-size-doesn’t-really-fit-anyone [...]

Wrapping up, the key to intelligent processes is treating decisions as peers. Decisions may require a human but an intelligent process will automate those that can be automated. Even when a decision cannot be completely automated an intelligent process will load share between automated components and users. Even when a case exceeds the ability of the system [...]

What is an intelligent process?

So what is an Intelligent Process? An intelligent process is a dynamic, flexible and transparent process focused squarely on the consumer that continually improves and adapts. This has several elements: Customer Centric Putting the consumer at the heart of a process is central to making it more intelligent. This requires more flexibility and a focus [...]

For all the undoubted benefits of a process approach, many of the processes being modeled and implemented by organizations are not very “intelligent.” Many processes are mechanical and repetitive, often relying too much on human decision-makers. They are internally focused, driven by the organization’s own view of its transactions and structure. Relying on these processes [...]

To become predictive, to use predictive analytics to differentiate a software product, you need to identify the decisions that can be made more profitably, more accurately, more precisely or more reliably. Unless the predictive analytics embedded in your product improve some decision-making then they will offer no real value. At best such analytics will be [...]

I got a chance to catch up with FICO’s Marketing products as part of our ongoing blog series on Marketing Decision Management solutions. FICO has been transitioning from using its tools to build custom marketing solutions to delivering a complete solution specifically for marketing. They also acquired Entiera about a year ago and have integrated [...]

Pegasystems had good years in 2011 and 2012 they say, with Q4 2012 being particularly strong and good results from their decision management products. They have over 2,000 employees as they go into their 30th year and are targeting $500M this year. Pegasystems maintains its focus on a platform business with a number of specific [...]

I don’t know how many of you have kindles but my family is awash in them. Several of us get the Amazon Daily Deal emails too and, of course, the kindle displays an advertisement for the daily deal when it is charging or idle. And while all this is fairly up-to-the-minute in terms of marketing it still lacks [...]

On the occasion of the Olympic Games opening ceremony I thought I would share one of my pet peeves about this and other sporing events – I can’t watch them. Now this is not because they are too commercial or because the human interest stories make me cringe (though they do, often) but because the games are [...]

A number of customers participated in a panel of analytics success stories. Each one was interesting and powerful in its own right and each prompted a Decision Management suggestion for someone at that stage in developing and deploying analytics. Argos Risk is a web-based online subscription risk management service. Argos offers actionable risk insight for [...]

Analytics can transform your business. Last time I shared with you how to transform your marketing with analytics. This time I’d like to share with you the power of analytics to optimize customer retention and how to use a Decision Management approach to give you a competitive edge. How to transform customer retention with analytics [...]

IBM has recently announced a new strategy for bringing Big Data to the enterprise. In particular this includes InfoSphere Streams v2 (announced April 12) and InfoSphere BigInsights 1.1 announced today. Big Data is an issue, of course, largely because the amount of data available to organizations is growing rapidly. Surveys show that many managers already [...]

Cross posted at International Institute for Analytics McKinsey just published a new study “Big Data: the next frontier for innovation, competition and productivity” that is definitely worth reading. With lots of detail – it runs to more than 150 pages – it discusses why there is so much more data, what that means and how [...]

Michael Rasmussen had a great post recently – Hordes of Policies Scattered Across the Organization – in which he had a great list of the challenges with risk management policies. Now Michael’s view of Governance Risk and Compliance (GRC) is a little different than mine but he is spot on with this list of issues. [...]

I am back home after a couple of days at IBM IMPACT 2011 in Las Vegas and as promised here are a couple of closing thoughts. Decision Management has gone mainstream IBM put Decision Management front and center alongside Business Process Management. For someone like me who has been writing and talking about Decision Management [...]

As companies move to this more changeable, uncertain world that requires a coordinate extended enterprise, it is essential to manage decisions as well as processes – not by using process management to manage decisions but by managing decisions alongside processes. These operational decisions – micro decisions – are the front line in driving business agility [...]

Eric Siegel opened Predictive Analytics World with a view of using predictive analytics in enterprise risk management. Eric began by giving some examples of “macro” risk – single, catastrophic risk events. But his focus, and the focus of predictive analytics, is on “micro” risk – risk-based micro decisions in my terminology. These are risk decisions [...]