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experiment

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 [...]

I recently spent some time with the Bosch Software Innovations team (makers of Visual Rules, recently reviewed on the blog) and one of the topics of discussion was the Internet of Things – an area of research of great interest to Bosch as a whole. As Wikipedia puts it this refers to “uniquely identifiable objects (things) [...]

A few weeks ago Rob Brosnan wrote a nice piece on the Forrester blog – Is it time for Customer Decision Management? It’s a great piece and he described Customer Decision Management applications thus: Customer decision management applications are tools that tailor the content, products, offers, and next actions presented to individual customers based on [...]

I will be giving a webinar on Four platform capabilities for Decision Management Systems on February 16th at 10am Pacific. This webinar kicks off the first installment of our definitive report on Decision Management Systems Technology Platforms. This report describes the wide range of technology available for building this exciting class of systems – Business Rules [...]

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 [...]

I listened in to IBM’s call about their recent analytics study conducted with MIT Sloan – The Widening Divide (available from www.ibm.com/thewideningdivide). This is the second year for the analytics study and surveyed 4,500 people from 30 industries and 120 countries – a very broad view. Three key results: The competitive advantage created by analytics [...]

Cross-posted from International Institute for Analytics There was a great article recently in the McKinsey Quarterly – The Second Economy. In it W Brian Arthur discusses the fact that Digitization is creating a second economy that’s vast, automatic, and invisible—thereby bringing the biggest change since the Industrial Revolution. It’s a good article and worth a [...]

Decision Management Systems are the next generation of information systems. Agile, analytic and adaptive, Decision Management Systems put business rules management systems, predictive analytics and optimization to work improving the effectiveness and efficiency of your operations. Decision Management Systems are agile – easy to change, easy to keep compliant and transparent in their behavior. They [...]

First Look – JMP Pro

I got my first look at JMP recently. JMP originally stood for “John’s Macintosh Project” apparently but is now a major business unit of SAS that has operated independently since 1989. It has about 180 employees and 250,000 users worldwide. The product has long since supported both Windows and Mac platforms and is a full [...]

I got an invite to a webinar on this topic the other day. The invite had some questions for you to ask yourself about your call center agents and how effective they would be if: They could act the way you wanted them to every time They didn’t have to have post-its or cheat sheets [...]

Cross posted at International Institute for Analytics McKinsey just published a new study “Big Data: the next frontier for innovation, competition and productivity” that is definitely worth reading. With lots of detail – it runs to more than 150 pages – it discusses why there is so much more data, what that means and how [...]

There’s a great article over on IBM’s Good Decisions blog called “What’s Decision Management got to do with Business Process Management?” The article lays out a nice scenario for Decision Management and differentiates between business event processing, business rules management, analytics and business process management. It is definitely worth a read. There are a couple [...]

One of the hot topics these days in analytics is “in-database” or “in-warehouse” analytics. I have blogged about multiple products in this space including the work SAS has done with Teradata, Aster, DB2 , Netezza  and Greenplum, the work Revolution Analytics has done with Netezza, Angoss and FuzzyLogix (described in this report). With all this [...]

Gartner BPM 11 Closing Keynote

Daryl Plummer gave the closing keynote – “If I had a time machine”. He began by differentiating between science fiction and fantasy – science fiction being a vision of the future that is based on some extrapolation of currently understood science and facts. Fantasy is completely based on the whims of the visionary. What he [...]

First Look – SAS/OR

I have been doing more thinking about optimization recently and thought I should get caught up with the OR (Operations Research) folks at SAS to see what they are doing. They see OR technologies as part of the overall analytics spectrum and feel that anything that improves the rigor of decision making without unduly constraining [...]

First Look – Conductrics

I got a briefing from Conductrics recently. Conductrics is a start up delivering an agent-based decision optimization solution focused on next best action or next best message. Designed for a website, mobile application or even a POS it uses machine learning techniques to optimize the behavior of the site/application to meet some overarching objectives – [...]

FICO Banking Analytics Blog

The folks over at the FICO Banking Analytics blog responded to my post on experimentation with their own take – The culture of experimentation. Worth a read as is the blog more generally, especially for those working with analytics in banking.

Syndicated from B-Eye-Network I recently wrote an article for the IIA on decisions, decision management and analytics. This was prompted by Tom Davenport’s recent interview on the Sloan Business Review on Reengineering your decision making processes about analytics and how companies make decisions. This interview also prompted Boris Evelson of Forrester to write this blog [...]

Syndicated from Smart Data Collective Some time ago Neil Raden and I did some research on analytics. It was clear as we did this that there were two main threads of analytic use in companies – risk analytics and opportunity analytics. I blogged before on the use of analytics to manage risk one risk at [...]