Nina Shikaloff discussed an analytics technique that I had not heard of – Impact Modeling. Impact Modeling is a decision modeling technique. Decisions on acquiring customers – what to offer for instance – managing customers and handling difficult customers are all important and it can be tricky to identify better ones. Impact modeling is about [...]
decision tree
A reader had an interesting question this week. As a comment to Using decision management to deliver intelligent business performance he asked “What makes a company ready?”. I suspect my closing line “The products are, mostly, ready. Whether companies are is another question…” prompted this. So, what makes a company ready for enterprise decision management [...]
The folks at ILOG and Relativitiy recently announced a new integration between their products – Legacy IT Modernization enabled by ILOG and Relativity Technologies Business Rules Solutions. I got a chance to chat with them today about what was new and different in this latest attempt to bring legacy modernization and business rules together. Relativity’s [...]
Last full session today is Lisa Kart and Jean Zoch of Fair Isaac talking about optimal pricing – balancing profitability with competitiveness. Lisa’s focus, she says, is on what makes price optimization work. Price optimization is a very broad topic, even in financial services, but their focus is on being able to target price for [...]
Next up was Stuart Crawford, part of Fair Isaac’s extensive research staff, on new approaches to the creation, visualization and comparison of decision trees or, as Fair Isaac calls them, Strategies. Stuart has been working at Fair Isaac for many years and has a lot of background in analytics. This work is about how to [...]
[amazonify]0471470643:right[/amazonify][amazonify]0471470643::text::::Data Mining Techniques: For Marketing, Sales, and Customer Relationship Management[/amazonify] This is one of the classic works on data mining and well worth the read.I really liked the book both because it is well written and because, although it drilled into a fair amount of detail about some of the techniques, it started each new [...]
[amazonify]0316172324:right[/amazonify][amazonify]0316172324::text::::Blink: The Power of Thinking Without Thinking[/amazonify] The book is an easy read and full of wonderful stories and vignettes that illustrate Malcolm’s points. Essentially the book is about how people make rapid decisions, often before consciously processing the available data, and the good and bad consequences of this. We are all familiar with some [...]
