With everything else going on at the moment, you may be finding it difficult to think about improving your decision-making. Yet COVID-19 has added a new set of constraints on your decision making and changed you objectives. This makes the management, and optimization, of decisions even more valuable. A few weeks back we published a [...]
COVID-19 is driving a new normal in which resources must be allocated and managed more dynamically.
The new normal of COVID-19 is going to need customer relationships to be built and sustained remotely.
Balancing multiple profit drivers is essential in many high volume, transactional decisions targeted with Decision Management. Being able to execute decisions, monitor their effectiveness, learn what works, and systematically improve your decision-making results in significant business benefit. Mathematical optimization let’s you go even further. We recently published a new white paper – The Customer Journey [...]
I recently got together with Irene Lyakovetsky of Saugatuck Worldwide and well known independent analyst Jim Sinur to talk Digital Decisioning. Irene released our talk on her Saugatalk channel as a great series of snippets: Introducing Digital Decisioning and focusing it on operational, transactional decisions Using decision modeling and empowering the business owner Using Low [...]
A new white paper outlines the journey to optimal decisions and the role of mathematical optimization in getting the business results you want.
Craig Bedell – an insurance industry luminary and old friend – published a great article last week on Carrier Management – The Insanity of Analytics in Insurance (NOW FREE – no membership required). Despite an abundance of optimism over analytics, AI and more, the insurance industry still has challenges realizing the potential benefits of these [...]
The Machine Learning Times (previously Predictive Analytics Times) is the only full-scale content portal devoted exclusively to predictive analytics. It has become a standard must-read and machine learning professionals’ premier resource, delivering timely, relevant industry-leading articles, videos, events, white papers, and community. In this month’s featured article, Eric Siegel, Ph.D., executive editor of The Machine [...]
Cassie Kozyrkov – Head of Decision Intelligence at Google- has a great piece on 12 Steps to Applied AI. As usual she’s got lots of great tips. I don’t have anything to add to her more technical steps but I want to add some commentary on Step 0 and Step 1. Let’s start with her [...]
The Decision Management team at Gartner (Rob Dunie , Roy Schulte, Derek Miers , Pieter den Hamer , Paul Vincent , Marc Kerremans and Erick Brethenoux ) have recently published a new paper entitled “Should Your Project Use a Decision Management Suite?” [Gartner subscription required]. It’s a great paper and I strongly recommend it if you have access. The quotes below [...]
Digital Decisioning: Using Decision Management to Deliver Business Value from AI There is an artificial intelligence (AI) revolution underway in enterprises across the globe as companies continue to adopt predictive analytics, machine learning and other AI across their businesses. This revolution puts managers and executives under enormous pressure to use AI to run their businesses more effectively. How do they do this? Will people lose their jobs? Most [...]
McKinsey recently reported that “Most carriers are struggling to meet their cost of capital, and productivity has barely moved over the past decade” and that “The insurance industry is facing a serious structural challenge … the majority of carriers are not making their cost of capital.” Growing productivity by improving operations is an essential ingredient [...]
One of the key benefits of decision management is its focus on operational decisions. Diving into these operational decisions further, you can typically identify several micro-decisions that, when improved, will dramatically affect business performance. “Micro-decisions” are the decisions made transaction by transaction, customer by customer. Companies often fail to recognize these as individual decisions, instead [...]
Like many of you I am awash in digital photos and have been trying to find a good way to manage them. For various reasons I picked Amazon Photos. One of the key benefits was the family vault – a way to let several people upload photos to a shared space. Of course, another reason [...]
Ryan Trollip, CTO of Decision Management Solutions, and Charlotte DeKeyrel, one of our experienced decision modeling consultants, and I are all going to be at IBM THINK February 11th – February 14th, 2019 in San Francisco. Ryan and I are speaking on Thursday and you’ll find us at events involving Decision Management and IBM’s decisioning [...]
I have known Tom for many years and enjoyed his books. He recently sent me a copy of his latest one – The AI Advantage: How to Put the Artificial Intelligence Revolution to Work (Management on the Cutting Edge). Tom does his usual excellent job of introducing a technical topic – AI and machine learning [...]
We’ve blogged recently about some of the challenges in analytics and AI – How More Companies Can Maximize the Potential of Analytics and 80% of insurance carriers aren’t delivering high impact analytics – building on some great McKinsey research. They recently published another article, this time targeted at Chief Analytics Officers – Rebooting analytics leadership: Time to move beyond the [...]
Recently we have posted on the Decision Management Solutions blog about a couple of interesting pieces of McKinsey research that discuss the unfortunate truth – most companies are NOT succeeding with advanced analytics. First, there’s this general research How More Companies Can Maximize the Potential of Analytics: “Senior executives tell [McKinsey] that their companies are struggling to [...]
Frontline Solvers has been in business for over 25 years and focused on democratizing analytics for the last five years. They identify themselves as an alternative to analytic complexity with a focus on leveraging broadly held Excel skills and a large base of trained students. They offer several products for predictive and prescriptive analytics and [...]
Cassie Kozyrkov, the Chief Decision Intelligence Engineer at Google wrote an article recently titled Is your AI project a nonstarter in which she identified 22 check list items for a candidate AI project. It’s a great article and you should definitely read it. In particular you should note the quote at the top: Don’t waste [...]