We do a lot of work in insurance and we seem many companies spend heavily automating their claims process. Their intent is to improve their loss ratio – both by reducing losses due to fraud or bad claims and by reducing processing costs. But it often doesn’t make much difference because they are focused on [...]
digital decisioning
An old friend, Guilhem Molines, has been working with some colleagues on a new book – Intelligent Automation with IBM Cloud Pak for Business Automation – and I got a chance to read it recently. The book covers all the components of IBM’s Cloud Pak for Business Automation. Decision Management Solutions is an IBM Business [...]
The folks at CNET posted “Please Get Me a Live Human: Automated Phone Menus Are the Absolute Worst” – just the latest article I have seen on this topic. They make some good points (standard way to get a human, stop talking about changed menu options, don’t suggest the website, call backs etc) but they [...]
I was talking to a customer the other day about a particular decisioning problem they have. There’s an operational decision that they take several thousand times a year. Not a transactional one but a pretty high volume one. Sometimes these decisions have a large financial impact but often they have a smaller one. Today the [...]
I recently bought a Specialized e-bike and it’s great. Every time I ride it I like it more. However, every time I get an email from Specialized, I get more irritated and less likely to recommend them to someone. Why? Well, let’s consider this week’s email newsletter. It’s clearly aimed only at e-bike riders and [...]
Over the years, Decision Management Solutions has helped many leading insurance businesses modernize. We’ve helped them radically improve their claims handling, driving high rates of straight through processing with less fraud and less waste. We’ve helped them improve their top line sales numbers with automated cross-sell/up-sell, Next Best Offer or Next Best Action systems. We’ve worked with [...]
I am super-excited to announce that an article I have been working on with Michael Ross has just been published on Harvard Business Review – Managing AI Decision-Making Tools The nature of micro-decisions requires some level of automation, particularly for real-time and higher-volume decisions. Automation is enabled by algorithms (the rules, predictions, constraints, and logic [...]
It’s been a while since I did a product review on the blog, but I recently caught up with the team at Zoot and thought a blog post was in order. Zoot, for those of you who don’t know them, deliver capabilities and services for automated decisioning across the customer credit lifecycle. They’ve been at [...]
POSITION FILLED Decision Management Solutions is growing and looking for a Delivery Manager for its projects. The Delivery Manager will be an experienced hybrid agile project manager and will be responsible for managing several concurrent, discipline based, high visibility projects using agile, and fixed milestone methods in a fast-paced environment that may cross multiple internal [...]
Working with companies that are investing in becoming analytic enterprises, we have determined that there are three critical success factors. Whether you are focused on business analytics, data mining, predictive analytics, machine learning, artificial intelligence, or all of the above, these factors will be critical. Check out these videos that talk about them: Analytic Enterprises [...]
Gartner recently published a piece “Top 10 Trends in Data and Analytics, 2020” that you can currently get from our friends at ThoughtSpot (registration required). It’s an interesting report you should definitely check out. My favorite section was the one on Decision Intelligence, within which they include the kind of digital decisioning or decision management [...]
A survey in CIO magazine on IT leaders’ thinking in the current crisis revealed that a plurality (37%) chose digital transformation as their first priority to help the business persevere through the current disruption. Moreover, a full 61% of respondents agreed with the statement that the effects of the pandemic are actually accelerating digital transformation [...]
The COVID-19 Coronavirus has upended the world economy – and your business. While the impacts to date have been dramatic, we have to face the fact that this is the beginning of a new normal – a world in which this virus circulates. This will have short- and medium-term consequences for your business regardless of [...]
Some of our old friends at Gartner have just published some great research on Decision Management. Specifically they have extended their work on Decision Management Suites (blogged about here) and focused on How to Choose Your Best-Fit Decision Management Suite Vendor [Gartner subscription or modest fee]. As they say in the intro: Decision management suites [...]
I recently got together with Irene Lyakovetsky of Saugatuck Worldwide and well known independent analyst Jim Sinur to talk Digital Decisioning. Irene released our talk on her Saugatalk channel as a great series of snippets: Introducing Digital Decisioning and focusing it on operational, transactional decisions Using decision modeling and empowering the business owner Using Low [...]
A new white paper outlines the journey to optimal decisions and the role of mathematical optimization in getting the business results you want.
At Decision Management Solutions we do a lot of work with IBM and an old friend of ours – Harley Davis – just published a nice blog post “How do you best operationalize AI?” We’ve had many conversations on this topic with Harley and his team and it’s no surprise we’re completely aligned on this. [...]
Craig Bedell – an insurance industry luminary and old friend – published a great article last week on Carrier Management – The Insanity of Analytics in Insurance (NOW FREE – no membership required). Despite an abundance of optimism over analytics, AI and more, the insurance industry still has challenges realizing the potential benefits of these [...]
The Decision Management team at Gartner (Rob Dunie , Roy Schulte, Derek Miers , Pieter den Hamer , Paul Vincent , Marc Kerremans and Erick Brethenoux ) have recently published a new paper entitled “Should Your Project Use a Decision Management Suite?” [Gartner subscription required]. It’s a great paper and I strongly recommend it if you have access. The quotes below [...]
Digital Decisioning: Using Decision Management to Deliver Business Value from AI There is an artificial intelligence (AI) revolution underway in enterprises across the globe as companies continue to adopt predictive analytics, machine learning and other AI across their businesses. This revolution puts managers and executives under enormous pressure to use AI to run their businesses more effectively. How do they do this? Will people lose their jobs? Most [...]
