decision-centric

I have been reading some of Ron Ross’ recent pieces on operational decisions. First there is a nice article called “Operational Business Decisions: Whose Decisions Are They Anyway” on BR Community. A short read this makes some great points that are worth re-iterating: We need to focus on a decision “the way business people see [...]

Eric Siegel opened Predictive Analytics World with a view of using predictive analytics in enterprise risk management. Eric began by giving some examples of “macro” risk – single, catastrophic risk events. But his focus, and the focus of predictive analytics, is on “micro” risk – risk-based micro decisions in my terminology. These are risk decisions [...]

Insurers face new and growing challenges as the market moves into recovery in 2011: more delivery channels, demographic shifts, a changing competitive landscape and a rapidly evolving regulatory and compliance environment. Many insurers are faced with meeting this challenges hampered by inflexible legacy applications, underutilized data from internal systems and external sources, and manual spreadsheets [...]

The folks at IDC (Dan Vesset, Maureen Fleming, Steve Hendrick, Henry Morris and others) have just released Worldwide Decision Management Software 2010–2014 Forecast: A Fast-Growing Opportunity to Drive the Intelligent Economy – the first ever market sizing for “Decision Management”. This is exciting – it’s great to have a leading research organization like IDC pull [...]

I was reading this article on Have you tested your strategy lately? in the McKinsey Quarterly and I was struck by test 10: Have you translated your strategy into an action plan? This struck me because one of the most persistent problems I see in corporate strategy is what I call the “make it so” [...]

Syndicated from IIA My friends at SAS, a sponsor of IIA, have a nice piece on their Knowledge Exchange – Elements of a Business Analytics Framework for IT. This lays out their view on the different kinds of decision types and maps them to decision frequency. Both in Smart (Enough) Systems and in my blog [...]

Eric Siegel opened Predictive Analytics World with a keynote on Five Ways Predictive Analytics Cuts Enterprise Risk. Predictive analytics is a hot topic these days, with demand in terms of jobs for instance doubling since the beginning of 2009. Yet the audience was really clear that most executives do not get the true power of [...]

The news today is that Pegasystems (rules-based business process management) is acquiring Chordiant (decision-centric CRM). This is interesting news as it merges a company (Chordiant) with a very decision-centric/decision services separate from process mindset with one (Pega) that has mixed rules and process together much more. Chordiant have been one of my companies to watch [...]

Syndicated from Smart Data Collective Risk management is an important topic for many organizations, especially those in financial services. Most of these organizations acquire risk one customer, one transaction at a time – this customer is not going to be able to pay (risk), this transaction is fraudulent (risk), this deal will not make money [...]

Syndicated from ebizQ This week I am discussing the characteristics of a decision-centric platform. Finally the platform must allow effective collaboration between all the various groups involved in decision making. The IT department that runs the operational systems, the business people who make decisions and set policy, the executives who drive strategy and even the [...]

Syndicated from ebizQ This week I am discussing the characteristics of a decision-centric platform. Because compliance is essential in decision making, the traceability of decisions and decision making logic to the organization’s objectives, regulations and policies is essential. Business users changing decision making must understand how that change will impact the organization, how it supports [...]

Syndicated from ebizQ This week I am discussing the characteristics of a decision-centric platform. Not only must the platform support complex and potentially long-running cases, it must do so in a decision- and automation-centric way. It is not enough for the platform to support the definition of complex cases and their tracking and management over [...]

Syndicated from ebizQ This week I am discussing the characteristics of a decision-centric platform. Decision-centric organizations try to automate decisions where possible so any platform must allow the automation of decisions. Plugging decisions into high throughput, rapid response, transactional systems must be possible and real-time decision making supported. In addition the platform must provide automated [...]

Syndicated from ebizQ This week I am discussing the characteristics of a decision-centric platform. First and foremost a suitable platform must focus on decisions. It must support the definition of the decisions involved in running a business separate from the processes and functions that are involved. It should allow the business logic, the rules or [...]

Syndicated from ebizQ Decision-centric organizations also focus on automating, not just supporting, decisions. They use this focus to develop simpler, standard processes and to become more event-driven. With decisions at the forefront, organizations need to change their thinking about automation. Instead of regarding information systems as simple stores of information that people use, they need [...]

Syndicated from ebizQ The first critical characteristic of a decision-centric organization, obviously enough, is a focus on decisions instead of processes or functions. The decisions an organization makes, the actions it selects from the possible alternatives are critical. Decisions are what make strategy real and drive results and performance against metrics. Implementing a strategy defined [...]

Syndicated from ebizQ This week I thought I would write about decision-centric organizations. Organizations face many challenges in today’s business climate. Organizations whose success or failure is determined by the decisions they make (which claims to pay, which customers to target, which transactions to investigate for fraud) are handicapped by systems that are centered on [...]

I have added a couple of new white papers to my company site – check out the decisioning white papers page where you can register and download them. The first is called “Smarter Systems for An Uncertain World” and is similar in concept to the keynote I gave at the Business Rules Forum: In an [...]