≡ Menu

optimization

We recently released The Decision Management Manifesto. In previous posts I explained why we did this and why decisions are important. This week I want to talk about the technologies involved in Decision Management. Most organizations will find that adopting Decision Management requires them to adopt some new technologies. Managing and automating business decisions is different [...]

A Decision Management Manifesto

I am pleased to announce the publication of The Decision Management Manifesto. The goal of the manifesto is to provide decision management practitioners with a useful synthesis of many years as a decision management practitioner, speaker, author and trainer. I am fortunate to work with and talk to a lot of people about Decision Management [...]

Since 2012 we have published a comprehensive report on the software technologies and products available to build Decision Management Systems - the Decision Management Systems Platform Technologies Report. Tested and established in many industries, these technologies include Business Rules Management Systems, data mining or Predictive Analytic Workbenches and Optimization suites as well as new in-database [...]

Nice article on A/B Testing

Matt Gershoff, CEO of Conductrics (a product we reviewed here) wrote a nice piece on A/B Testig over at the Analyzing Media blog - It’s all One Big Decision: Testing, Analytics, & Targeting. Matt discusses the role of A/B testing, of predictive analytics and of optimization in a nice, straightforward piece. Well worth reading. I wrote [...]

I got an update on Marketswitch Optimization as part of my series on marketing decision management solutions. Experian positions Marketswitch Optimization for the most advanced stage of decisioning– as clients move from profiling and segmenting their customers, to predictive scoring and business rules to optimization. They see some interesting numbers for improvement through this lifecycle [...]

I am giving a webinar about Oracle Real-Time Decisions on June 25 at 10am Pacific/1pm Eastern I will be joined by Nick Engelhardt of Oracle. We will discuss the benefits and applications of decision management and how decisions made using big data and analytics are transforming today’s dynamic customer experiences at the moment of impact. Topics will [...]

First Look: Via Science

I got a chance to catch up with Via Science recently [Post updated June 2014 to reflect some changes in terminology]. Via Science is focused on “Big Math” for “big data.” They see big data companies spanning from data collection to search/storage to analysis/visualization. Big Math - the category in which they like to put [...]

UPDATED 2/19/2015 for SAS® Decision Manager v 2.2 reflecting ongoing integration of capabilities into the core product as well as new features (in italics). SAS has announced its new Decision Management product – SAS® Decision Manager  - back in 2013 and it is now in version 2.2. Over recent years SAS sees an increasing focus [...]

Jason Verlen and Bernard Spang took one of the breakout sessions on analytic innovations. IBM, as noted yesterday, sees a progression of analytics from descriptive to predictive, prescriptive and ultimately cognitive. The purpose, of course, of big data and analytics is to drive better decisions. Managing big data is a necessary step but acts only [...]

Bob Picciano and Les Rechan came up next to discuss Big Data and Analytics: Fueling Competitive Advantage in the New Era of Smart. Five years ago IBM launched the Smarter Planet initiative. On a smarter planet, they say, everything is connected and instrumented and this is reflected in the explosion of Big Data. To drive value [...]

Decision optimizer is one of FICO’s Decision Management Tools and is designed to address some specific challenges in customer decisioning, particularly that there are often competing objectives and very large numbers of customers (and thus customer decisions) involved. Combine this with the many possible action combinations, uncertainty about what customers might do, as well as [...]

Stuart Wells, the CTO of FICO, came up to give the keynote and talk about FICO's big cloud announcements: FICO Cloud-based Decision Management Platform (announcement here) FICO Analytic Cloud (announcement here and sign up here) Customer engagement applications  on this cloud platform announcement here (discussed also in this blog post). Stuart began with a couple of stories. [...]

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 [...]

We have just issued a new version of the Decision Management Systems Platform Technologies report. There are several new vendors included like Saffron Technology, Informatica, Decisions and Precog as well as a number of updated reviews including GDS Link, IBM and others. Check out the report online or download it as a PDF here. If you [...]

IBM has a portfolio of decision optimization products that are integral to their smarter analytics strategy, aimed at both the hard-core optimization experts as well as targeting line of business markets. IBM sees optimization expanding, expanding from the traditional optimization technology market to a more mainstream decision optimization platform with an increasing focus on specific [...]

Marketing is a great use case for Decision Management and we see this reflected in the  growing interest in using Decision Management Systems  to improve retention, increase cross-sell and up-sell, develop customers over time and improve customer satisfaction - key objectives of a successful marketing organization. In fact using analytics, especially predictive analytics, business rules [...]

A recent Gartner group announcement said something that caught my eye Seventy percent of high-performing companies will manage their business processes using real-time predictive analytics or extreme collaboration by 2016, according to Gartner, Inc. "It has been technically possible to implement real-time analytics in transactional and record-keeping operational applications for decades. However, few business processes [...]

One of the sessions I am most looking forward to is next - Ryan Schmiedl and SAS' view of Decision Management. Ryan kicks it off with examples of operational decision making - credit card approvals, car loan approval, claims payment. Decisions about transactions made in real-time or near real-time. These systems, Decision Management Systems, embed [...]

Russ Cobb and Randy Guard came up to walk us through a day in the life of a marketing department: Problem identification by the CMO Discovery and segmentation by the marketing analyst Campaign design and execution by the campaign manager Optimization and social listening by the campaign manager and marketing analyst Results for the CMO Randy [...]

Jim Davis kicked off the annual SAS analyst event. SAS sees their work on in-memory analytics in recent years as another major change in the way companies handle data and develop analytics, especially when combined with their work on taking advantage of this with their new visual analytics interfaces. This, he says, is going to [...]