I am attending IBM IMPACT and this is a duplicate post for one running on the IBM IMPACT Blog. Business rules get everywhere – we have business rules in our user interfaces, in data quality, in business processes and more. But when organizations adopt a business rules management system they are focused on improving decision-making. [...]
analytic model
As we start the series let’s begin with a set of what I consider to be critical elements in a Marketing Decision Management solution. These are not a complete set of everything a solution might do but a set of critical elements from my (decision management) perspective. A suitable marketing solution is: Multi-channel, supporting inbound [...]
I am a faculty member for the International Institute for Analytics and recently published two new briefs on how to use decision requirements modeling in the successful application of analytics, especially (but not solely) more advanced analytics such as data mining or predictive analytics. Decision Discovery for a Major Business Function This outlines how an organization [...]
Syndicated from my blog on the International Institute for Analytics Site IIA is talking about analytics entering a new era, Analytics 3.0, The Era of Impact. What is Analytics 3.0? According to IIA, Analytics 3.0 marks the stage of maturity where leading organizations realize measurable business impact from the combination of traditional analytics and big data. High-performing companies [...]
Pegasystems had good years in 2011 and 2012 they say, with Q4 2012 being particularly strong and good results from their decision management products. They have over 2,000 employees as they go into their 30th year and are targeting $500M this year. Pegasystems maintains its focus on a platform business with a number of specific [...]
Les Rechan came up to discuss “realizing the value” with analytics for big data. Les reminds us that analytic organizations out perform others so its about using analytics not just data. Again he’s focused on time to insight (where I think the focus should be time to action, not insight). Anyway he is focused on [...]
Precog was founded in late 2010 to solve the challenges identified by the founder when he was working on developing an online advertising platform. An online ad platform generates a tremendous amount of data, data that can be used to target ads or select specific creative for an ad, but managing and using this data [...]
Since I last wrote about Revolution Analytics (back when they announced their Netezza relationship) they have added some new management and are growing fast. In particular they see lots of big data experimentation evolving into actual projects. To recap, Revolution Analytics is a commercial analytics company based on the open source R statistics language. The [...]
I got an update from Aha! recently on their Aha! Analytics Platform. Aha! believes that organizations must embed and automate analytic disciplines at the operational level so that people running the business day to day can apply analytics. To deliver on this they have been expanding their analytic platform capabilities, supporting big data and more. [...]
I have been getting a bit behind with my blogging and tweeting recently but I was struck by a comment on Howard Dresner’s thread (@howarddresner) based on preliminary results from his survey (http://wisdomsurvey.com). #BetterDecisionMaking (so far) is the top goal for #BusinessIntelligence – wisdomsurvey.com #BIWisdom — Howard Dresner (@howarddresner) March 8, 2013 and Boris Evelson [...]
I wrote about FICO Model Central, FICO’s model management product, back in February of 2012. A new release, 3.0, is shipping with a new feature called Model Deployment Accelerator for rapid deployment. To recap, FICO Model Central automates analytic model compliance tasks, provides alerts and visualization to help you identify needed model updates, supports getting [...]
Lityx was started about 7 years ago with a focus on analytics, especially marketing analytics. Lityx is focused particularly on more complex forms of analytics such as predictive modeling and optimization. Lityx works with companies from non-profit, media, gaming, financial services, healthcare and retail. Their initial focus has been on marketing analytics and involves optimizing [...]
The move over recent years has been towards increasingly distributed processing of data, both in terms of the underlying model and in terms of the processing architectures available. More and more of this data is also streaming and SQLstream is focused on effective access to streaming big data. Founded in 2003 and headquartered in San [...]
I have long been a fan of Richard Hackathorn’s view of decision latency and use it regularly in both consulting and training. He uses the concept of the value-time curve. This curve is designed to show that the longer you take to respond to new data, business events, the less value there is in your [...]
Analytics magazine recently published an article I wrote on Operationalizing Analytics. The need to create a more industrialized process for building and deploying analytics is one I discuss regularly on the blog and in articles. As I say in the article: To broadly and effectively adopt predictive analytics organizations must operationalize analytics. Operationalizing analytics requires [...]
Medio started in 2004 with a mobile-first focus on predictive analytics for customer engagement and monetization. Since then they have grown to over 80 people with a cloud-based solution designed to help companies boost engagement and monetization opportunities with their customers on mobile and other IP-connected devices. Medio specializes in personalized real-time information and recommendations [...]
Salford Systems was founded in 1983 and initially developed SAS procedure– add-ons for SAS. They then worked with a PC-based statistics package before moving solidly into data mining and predictive analytics after meeting the inventors of the CART algorithm around 1990. Their product range now consists of CART®, TreeNet® stochastic gradient boosting, MARS®, RandomForests®, GPS™ [...]
Experian has recently renovated their decision management platform – now called PowerCurve™. Experian’s clients generally need to achieve one of four goals – increase revenue through market share growth; controlling risk to manage exposure and reduce losses; increased operational efficiency; or compliance. These goals obviously drive you to using Decision Management Systems and to use [...]
Rexer Analytics have just released the results of their 2011 survey – the 5th annual one, answered by over 1,300 data miners from 60 countries in the first have of 2011. The survey continued to show that CRM/Marketing, Financial and Insurance are the major commercial focus areas for data mining. It also reiterated the top [...]
I caught up with a local real-time decision making start up recently called Inkiru. Inkiru’s mission is to revolutionize real-time decision making by using the increasing volumes of data available to drive both insight and action. The core team is ex-Visa, PayPal, eBay, Chase, amazon with a focus in payments, fraud detection and security. The [...]
