Jim Sinur of Aragon Research recently published a new blog Mounting Pressure for Better Decisions. He argues, correctly, that decision making is under pressure because there is more data available than ever before, a need for faster change in the way organizations make decisions to respond to evolving circumstances and a general need for speed in handling transactions.
We help companies improve decision-making by applying our DecisionsFirst Decision Management approach and by building Decision Management Systems for them. Combining decision models (built using the Decision Model and Notation or DMN standard) with powerful business rules management systems, advanced analytics (machine learning, predictive analytics) and AI, we help companies see a set of unique benefits:
- Improved consistency
Decision models enable consistent decision making across channels and people without imposing mindless consistency.
- Increased Agility
The systems we build are easy for the business to change in response to new business conditions because the business understand the decision models and own the business rules that drive the system.
- Reduced Latency
The combination of business rules and advanced analytics enables higher rates of straight through processing (automation) while also ensuring more clarity and less confusion for the transactions that must be handled manually.
- Lower Cost
Decision Management Systems reduce costs by ensuring less waste and rework, more STP and fewer manual touches.
- Better Accuracy
Decision Management Systems operationalize data-driven, analytical decisions throughout the organization to improve the accuracy of decisions everywhere.
If you are interested in learning more about Decision Management and the technology available for it, check out our Decision Management Systems Platform Technology Report or contact us for a free consultation.