Equifax has been expanding beyond credit bureau data in recent years by providing better access to a broad range of their own fraud, employment, wealth, commercial and alternative data sources as well as 3rd party data to position themselves as an insights company. As part of this focus, their Decision Management platform, InterConnect, was rebuilt [...]
decisioning
Ginni Rometty kicked off day two of the IBM Interconnect conference, with a pitch that cloud is changing IT, business and indeed society. Cloud, and the IBM Cloud in particular, she says will allow a new generation of business and change the world. Cloud is already 17% of IBM’s business and clearly Ginni sees this [...]
Forrester analyst Mike Gualtieri asks “if analytics does not lead to more informed decisions and more effective actions, then why do it at all?” Specifically in a great post What Exactly The Heck Are Prescriptive Analytics? he says (emphasis mine) Prescriptive analytics is about using data and analytics to improve decisions and therefore the effectiveness of actions. Isn’t [...]
Enova Decisions was launched in January of 2016 as an outgrowth of Enova International’s existing technology and analytics capabilities, which are used to offer online consumer and small business loans to 11 brands in six countries including NetCredit and Headway Capital. Launched in 2004 as an online lender, Enova does all its own analytics for [...]
One of the most persistent problems with decision modeling in my experience is the tendency of people to think of decision modeling as a one-time requirements effort. Many teams are convinced that building a decision model using the Decision Model and Notation (DMN) standard (white paper here) is going to help them with their business rules [...]
FICO made a series of announcements today at FICOWorld 2016. The event kicked off with a fun retrospective of the 60 year history of FICO. Bill Fair and Early Isaac founded the company in 1956 to use data and analytics to improve decision-making. This focus has not changed really in all the years since – FICO is still [...]
Jan Purchase of LuxMagi and I are working away on our new book, Available now! Real-World Decision Modeling with DMN and I wanted to take a moment to talk about why Jan and I are the right people to be writing this. Our aim is to provide a comprehensive book that explains decision modeling as well as the DMN standard and [...]
I got an update from CRIF recently. CRIF is headquartered in Italy with $450M in revenue and 1,884 employees. They have customers in over 50 countries, offer credit bureau services in over 15 countries and credit decisioning solutions worldwide. Most customers are financial institutions though they have customers in other industries such as telco, utilities, [...]
My second session at IBM Insight is Hamilton Faris Chief Data and Analytics Officer of MetLIfe – a past customer of ours – talking about Predictive Analytics. MetLife of course is a big insurer with 100M customers in 47 countries. The group Hamilton runs focuses on bringing analytics to the forefront of the decision-making process [...]
This week’s white paper is an oldie but goodie – The Case for Centralized Customer Decisioning An Imperative for Every Channel, Every Interaction Marketing understands customers better than any other single group, and should own customer treatment decisions. As marketers strive for a genuine dialogue with their customers, an interactive and personalized experience that builds brand [...]
OnStar presented at PegaWorld on their use of Pega Decision Management (the old Chordiant product) for managing telematics to improve customer experience. OnStar handles 7M customers worldwide and about 4 calls per second. It has handled more than 780M customer interactions to date including 3.8M emergencies and nearly 10M remote door unlocks. OnStar began as a [...]
Some data-centric technical experts participated in a second panel at IMPACT. There were a number o data-centric announcements at IMPACT and they quickly recapped these announcements: New Power Systems Real-time actionable insight – capturing events and data at high speed, predicting probabilities from this data, driving this into decisions by embedding existing their Decision Management [...]
I recently got an update from Pegasystems focused on their recent release 7 of the Pegasystems Decision Management product. Last year (2013) Pegasystems had a good year, breaking $500M in revenue while showing a 55% increase in license and backlog. They are forecasting $576M in 2014 and report particular interest in predictive analytics, analytic marketing [...]
Back in 2008 I wrote this post – The small impact of business rules on the big players, bemoaning the lack of serious investment in business rules on the part of major software companies. As we enter 2014 I thought I would revisit this post and consider what a difference 5 years makes. Let’s consider some [...]
A little while back I blogged about Customer Data Platforms and their role in coordinating multiple channels when trying to develop customer-centric marketing solutions. More recently I caught up with Provenir – a company I know from its risk-centric decisioning platform – and with the team behind their new customer listening product. I plan to blog about the [...]
As part of my ongoing series on Marketing Decision Management Solutions I got my first look at a new take on next best action systems the other day with the folks from Idio. Idio focuses on what they call “intelligent customer experiences through content.” They have what amounts to a real time decisioning platform focused [...]
Decision optimizer is one of FICO’s Decision Management Tools and is designed to address some specific challenges in customer decisioning, particularly that there are often competing objectives and very large numbers of customers (and thus customer decisions) involved. Combine this with the many possible action combinations, uncertainty about what customers might do, as well as [...]
Last session for me at FICO World is SulAmerica (part of ING) talking about their work with FICO moving decision management applications to the cloud. Cloud is clearly a growth area for businesses, with much of companies’ IT investment being pushed to the cloud. This move to the cloud turns applications to SaaS, middleware into [...]
Next session for me at FICO World is one focused on where customer decisioning is going. John Rymer of Forrester began by presenting some of the major trends found in a recent Forrester survey conducted for FICO: Customer modeling is getting much more sophisticated as companies try and understand large numbers of customers more precisely [...]
As part of our ongoing series on Marketing Decision Management solutions I recently got a briefing on some of IBM’s Marketing Solutions – specifically IBM Real-time Interaction Management. IBM’s Real-time Interaction Management offering is part of IBM’s Enterprise Marketing Management suite. This has been a real focus area for IBM in the last few years with [...]
