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predictive analytics

I am attending IBM's World of Watson and will be blogging as much as I can. First up is a two-part session on Advanced Analytics and how you can put advanced analytics at the heart of a Cognitive strategy. Paul Zikopoulos kicked things off talking about the potential for data to transform business and the [...]

Many of you already own Decision Management Systems: A Practical Guide to using Business Rules and Predictive Analytics - we've sold over 7,000 copies after all - but if you have been looking for the book recently on amazon you may have noticed something odd: the Kindle version is gone... This is not because the Kindle version does [...]

I was recently listed as one of the top Big Data/Data Science leaders on LinkedIn by KDnuggets. I was delighted to be on the list and to share it with some great thinkers and writers. My interest, as regular readers of the blog will know, is not really on how you build analytic models or apply data science techniques [...]

First Look: Enova Decisions

Enova Decisions was launched in January of 2016 as an outgrowth of Enova International’s existing technology and analytics capabilities, which are used to offer online consumer and small business loans to 11 brands in six countries including NetCredit and Headway Capital. Launched in 2004 as an online lender, Enova does all its own analytics for [...]

I am participating in a webinar Building Outstanding Customer Relationships: Delivering Relevant Next Best Actions for Retail Bank Customers on September 21st at 12 Noon Eastern/9am Pacific with Steven Noels of NGDATA. Next best action marketing is a tactic that has been around for a while, but few marketers have been able to fully take part [...]

The folks over at ZS Associates sponsored a study by the Economist Information Unit on analytics titled “Broken Links: Why analytics investments have yet to pay off”. This report showed the classic challenge of analytics – 70% think analytics is very or extremely important but only 2% say their analytics efforts have a broad, positive impact. In [...]

I recently got a chance to catch up with the IBM SPSS team for an update. Analytics, in IBM’s view and mine, are increasingly necessary as digitization increases the scale of business data and digital disruptors increase the difficulty of making good decisions. For those being disrupted analytics offers a powerful way to fight back. [...]

I recently participated in an International Institute for Analytics webinar,  Prescribing The Right Decision With Prescriptive Analytics (I am a faculty member of IIA). In the webinar we did some surveys that had some interesting results. First off we asked the audience what they were using analytics for. This was interesting to me as it overlapped [...]

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 participating in an International Institute for Analytics webinar, 9am Pacific on June 23 "Prescribing the Right Decisions with Prescriptive Analytics" Automation of everyday activities holds the promise of consistency, accuracy and relevancy. When applied to business operations, the additional benefits of governance, adaptability and risk avoidance are realized. Prescriptive analytic empowers both systems [...]

We are running our regularly scheduled, and highly reviewed, Introduction to Decision Management training again July 12-14, 10am-11:30am Pacific each time. A concise course for executives, managers and stakeholders stressing the key concepts and terminology of the proven decision management approach. This approach underpins the successful deployment of business rules management systems (BRMS) and predictive [...]

First Look: DMWay

I got a briefing from a new predictive analytics vendor, DMWay. DMWay was founded in 2014 based on significant research over the previous decades. DMWay had a first VC round in 2015, have 20+ employees and dozens of customers. DMWay is focused on democratizing data science and automating machine learning so that those with business [...]

FICO made a series of announcements today at FICOWorld 2016. The event kicked off with a fun retrospective of the 60 year history of FICO. Bill Fair and Early Isaac founded the company in 1956 to use data and analytics to improve decision-making. This focus has not changed really in all the years since - FICO is still [...]

First Look – SAS Viya

Back when I was attending the SAS Inside Intelligence analyst day they briefed us under embargo about their new Viya platform. This was announced today from SAS Global Forum. Ultimately all the SAS products will be moving to the SAS Viya platform and the platform is designed to ensure that all SAS products have some common characteristics: All [...]

Lisa Kart and Roy Schulte recently published a new research report Develop Good Decision Models to Succeed at Decision Management (subscription required). This is the first piece of formal research published by Gartner on decision modeling. Their introduction text says The industry trends toward algorithmic business and decision automation are driving wider adoption of the decision management [...]

I am faculty member of the International Institute for Analytics and Bob Morison has recently published some great research (to which I made a very modest contribution) on Field Experience In Embedded Analytics - a topic that includes Decision management. If you want access to the full research you will need to become an Enterprise Research [...]

I am co-hosting TDWI's Solution Summit on Business Innovation through Analytics and Big Data Architectures with Philip Russom, April 10-12 in Savannah, GA Business, analytics, and big data are colliding to create new and innovative ways of running a business, regardless of organizational size or industry. From one direction, organizations are collecting data from new sources, [...]

The Call for Speakers is open for DecisionCAMP 2016 until April 1st. This year DecisionCAMP will be hosted by the International Web Rule Symposium (RuleML) on July 7, 2016 at Stony Brook University, New York, USA. This event will aim to summarize the current state in Decision Management with a particular focus on the use of the Decision Model and Notation (DMN) [...]

Predictive analytics is a powerful tool for managing risk, reducing fraud and maximizing customer value. Those already succeeding with predictive analytics are looking for ways to scale and speed up their programs and make predictive analytics pervasive. But they know there is often a huge gap between having analytic insight and deriving business value from it - predictive [...]

Jan Purchase of LuxMagi and I are working away on our new book, Real-World Decision Modeling with DMN. Real-world Decision Modeling with DMN will be available from MK Press in print and Kindle versions in the coming months and I wanted to take a moment to talk about why Jan and I are the right people to be [...]