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risk management

Silvie Spreeuwenburg of LibRT came up after lunch to talk about a rules-based approach to traffic management. Traffic management is a rapidly changing area, of course, thanks to IoT and self-driving cars among others. When one is considering traffic, there are many stakeholders. Not just the road user, also businesses reliant on road transport, safety [...]

We have a set of online training coming up in July: Introduction to Decision Management to introduce the key concepts and terminology of Decision Management and provide a framework for successful business rules and analytic projects Decision Modeling with DMN to learn how to model requirements using the Decision Model and Notation standard, the cornerstone technique for [...]

First Look: Modelshop

Modelshop was founded by Tom Tobin, someone who has spent his career building analytic applications in credit origination, portfolio optimization, risk management and fraud detection for major financial institutions. Tom’s vision for Modelshop is to make the technologies that enable these types of solutions available to all organizations so they can make their analytics actionable. [...]

Another product/solution focused session, this time on Cybersecurity. This is a relatively new product for SAS but they have production customers and an aggressive development plan. The core focus for this detecting attackers who are on a network before they execute their attacks. For instance in the Sony hack the attackers were probably on the network for [...]

I am at the SAS Inside Intelligence event in Steamboat getting the annual update on all things SAS. First session of the day is the Executive Viewpoint. Jim Goodnight and Randy Guard kicked things off. Creating a single global organization was a big part of last year with legal, finance, sales, marketing and more becoming global [...]

As you may have noticed I am working on a new book - Available now! Real-World Decision Modeling with DMN - with Jan Purchase. Yesterday Jan had a great blog post - Why Decision Modeling? (In 1000 Words). Jan makes some great points, emphasizing the value of  decision modeling with DMN in: Transparency of the logic Separation  of [...]

Many organizations have buried their operational decision making in business processes and information systems, making it hard to optimize how these decisions are made. This matters because more and more of the value created by business processes is associated with these kinds of decisions. As more processes are digitized and automated to keep pace with [...]

I am giving a webinar on How to Innovate Risk Management and Customer Centricity with Roger Burlton of the Process Renewal Group , February 17th at 11am Pacific. It's a great chance to hear how to innovate risk management and customer processes with decision and process management, from two leading experts. Operational decision making is [...]

We are running our regularly scheduled, and highly reviewed, Introduction to Decision Management training again February 23-25, 10am-11:30am Pacific each time. Decision Management allows the effective automation of decision-making combined with increased business agility and greater effectiveness. Decision Management is a proven approach for adopting business rules and predictive analytics technology. Used with these technologies, [...]

I got a chance to hear Roger Burlton and Sasha Aganova of the Process Renewal Group talk about a recent case study of theirs concerning risk and management and processes. This is a hot topic of course with new regulations and new requirements for financial services firms. Compliance with these risk management regulations, though, can't be seen [...]

I am giving an online class Introduction to Decision Management in three 90 minute sessions November 17,18,19 Decision Management allows the effective automation of decision-making combined with increased business agility and greater effectiveness. Decision Management is a proven approach for adopting business rules and predictive analytics technology. Used with these technologies, Decision Management improves risk management and [...]

I am giving an online class Introduction to Decision Management in three 90 minute sessions August 25,26,27 Decision Management allows the effective automation of decision-making combined with increased business agility and greater effectiveness. Decision Management is a proven approach for adopting business rules and predictive analytics technology. Used with these technologies, Decision Management improves risk management [...]

We have just posted a new white paper on Next Generation Claims Systems Decision Management delivers next generation claims systems that act immediately, increase agility, consistency and accuracy, improve customer satisfaction, speed response and reduce costs. Insurers can achieve significant speed-to-market gains, reduce fraud and create innovative new claims processes. Today’s insurance claims systems deliver [...]

First Look: Blue Yonder

Blue Yonder is based in Germany (Karlsruhe) and was founded in 2008 by an ex-CERN researcher, Prof. Michael Feindt and focusing on solving big data problems such as demand estimation. Several solutions targeted at retail were released over subsequent years. In 2013 they launched their Data Science Academy. The Blue Yonder platform for predictive applications [...]

I am giving a webinar for the International Institute for Analytics at 2:00pm ET on February 19 "Making the Best Decisions Possible with Enterprise Decision Management" We all make tactical and strategic decisions every day. With the presence of big data, are we making the right or the best decisions possible as data volume, velocity [...]

I recently published a new article in the Teradata Magazine - Get Closer to Your Data If data holds the secrets to better business decisions, then advanced analytics is the means to getting data to reveal that information. That’s why organizations striving to be more data driven are adopting advanced analytics. New and improved techniques offer solutions [...]

I recently did some work with the folks at SAS on Decision Management and they helped me create some new decision management assets. We recorded three short webinars on core decision management topics: Operationalizing Analytics With Decision Management. Where decision management fits in your analytic environment. How to modernize analytical business processes. The value of operational analytics. Manage Business [...]

TDWI just published a new article of mine on Moving to Real-Time Decisions (it's in a members-only newsletter so you will need to be registered to view). When it comes to analytics, many organizations focus on using analytic insight to improve executive decision making. Yet there is often an even greater opportunity when using analytics [...]

I recently got an update from Pegasystems focused on their recent release 7 of the Pegasystems Decision Management product. Last year (2013) Pegasystems had a good year, breaking $500M in revenue while showing a 55% increase in license and backlog. They are forecasting $576M in 2014 and report particular interest in predictive analytics, analytic marketing [...]

FICO has recently acquired InfoCentricity, makers of two advanced analytics products - Xeno (for building predictive scorecards, reviewed here) and StrategyTrees (decision trees). InfoCentricity has about 40 clients (some with over 100 modelers, some smaller). Most of these companies are also FICO clients though not generally for analytic modeling tools. Clients use the tools in [...]