decision analysis

The Decision Model and Notation (DMN) standard is starting to get some real traction in the market. We have a growing number of clients adopting the modeling techniques (described in this white paper if you are not familiar with decision modeling with DMN) and a number using our decision modeling software DecisionsFirst Modeler. In a few [...]

John Thume wrapped up the day with a session on Aster Operationalizing Analytics and the new Aster AppCenter. Success in Big Data Analytics requires several things he said: It’s all about People and Process not technology he says. The technology has evolved hugely but the people and the process they have to change remain challenging. [...]

Decision Management is both an approach and a technology stack. In this opening day workshop at Decision CAMP 2014, Decision Management consultant and author James Taylor will introduce both. We’ll begin with the discovery and modeling of suitable decisions, move into the construction of decision services and wrap up with the importance of decision analysis [...]

Lisa Kart, Roy Schulte and Teresa Jones of Gartner recently published Find the Best Approach to Decision Management. It’s a great piece and if you are a Gartner subscriber you should definitely read it and share it around your organization. Even if you are not you should seriously consider getting it from Gartner as it makes [...]

There was an interesting article from McKinsey this month – The benefits—and limits—of decision models – by Phil Rosenzweig. As Phil points out using models (and he is talking about analytic models) helps avoid common biases that undermine leaders’ judgments such as over confidence, a focus on recent data etc. And I would add not just leaders – it also [...]

Last year I interested Andrea Scarso, CEO of MoneyFarm, about analytics. This was a hugely popular post so I thought I would continue the series this year by interviewing some other analytic practitioners. The first in this continuing series is an interview with Tracy Allison Altman, co-founder of Ugly Research. Ugly Research are developing PepperSlice, [...]

We recently released The Decision Management Manifesto. In previous posts I explained why we did this and why decisions are important. This week I want to talk about the technologies involved in Decision Management. Most organizations will find that adopting Decision Management requires them to adopt some new technologies. Managing and automating business decisions is different [...]

I am going to be participating in Decision Camp 2013 in San Jose, November 4-6. I will participate in the newcomers track on the Monday, helping to introduce the basics of Decision Management and then I will help open the main day on the Tuesday. Monday’s session is 3-5pm: The Decision Management Journey Decision Management [...]

I got an update from GDS Link on their Decision Intelligence product recently. This was developed initially as a consulting tool and is now available as a licensed product. The purpose of Decision Intelligence is to help customers anticipate business corrections before there is an impact on the business. Decision Intelligence provides scorecard monitoring or [...]

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 [...]

I was chatting with our VP of business development today and she shared a great phrase that she had heard recently – “the tyranny of the anecdotal.” This refers, of course, to the terrible tendency of people to use anecdotes and stories to make decisions. The regrettable tendency for a doctor to ignore data about [...]

Gagan Saxena and I are speaking at this year’s Building Business Capability conference October 28 – November 1 in Fort Lauderdale, FL  and I am giving a tutorial. My speech is on Beyond Business Agility: Becoming Analytic and Adaptive Organizations are increasingly focused on delivering more agile systems. The use of business rules as a foundation for [...]

IBM has two core Decision Management products, Operational Decision Management and Analytical Decision Management. As noted yesterday CIOs see a need to drive better real time decisions while CEOs see the need to differentiate their organizations by translating insight into actions (by making decisions). The Decision Management solutions are focused on optimizing decisions – not [...]

Some time back I wrote Here’s how decisions and rules relate (and how to manage them) and it seemed to me that this could do with being repeated with small updates. One of the questions I get often is around how decisions and business rules relate. Business rules are, after all, one of the core technologies [...]

My eye was drawn to an article in the New York Time last week – For $2 a Star, an Online Retailer Gets 5-Star Product Reviews.  This article drew attention to the ongoing and growing problem of fake reviews. Like many of us I increasingly rely on reviews on sites like amazon.com or yelp.com to [...]

In a recent article over on All Analytics – Analytics-Business Alignment Needs Work – Beth Schultz discussed a set of Gartner predictions written up by Doug Laney. In particular she highlights Gartner’s finding that companies cited …aligning BI initiatives with corporate strategy and objectives nearly three times as often as they called out technology-related issues [...]

An interesting discussion started on twitter this week with @BigBlueMilky saying “Decision Management is so much more that just using business rules” – something I strongly agree with. @JeffreyGoodReq followed up by adding “But you must start with business rules” and, when I disagreed and said you must start with Decisions added “rules = context [...]

I got a quick update on Spotfire 4.0 recently (announced today – I last reviewed Spotfire in February). This release was aimed primarily at getting analytics to a wider audience through analytic dashboards and social collaboration. As we all know, many people work with others in different locations and time zones. This requires strong context [...]

Gladys Lam kicked if off by introducing the three chairs of the conference – Kathleen Barret Chair of IIBA who heads up the business analysis tracks, Roger Burlton of BPTrends who heads up the business process tracks and Ron Ross of BRSolutions who heads up the business rules forum tracks. The three chairs then came [...]