Eric Siegel, author of Predictive Analytics and the Chair of Machine Learning Week, had a great article on Harvard Business Review recently – The AI Hype Cycle Is Distracting Companies. You should read it, as he makes a lot of great points about AI hype and its dangers. One comment, in particular, stood out for [...]
operational decision
I got a chance to listen to Mike Gualtieri of Forrester talk about his recent Wave report on AI Decisioning Platforms. This focuses in on a core set of vendors and compares them in detail as a follow-up to his earlier AI Decisioning Landscape report (which included Decision Management Solutions with our DecisionsFirst Modeler product). [...]
In March 2023, three U.S. banks failed. This triggered a sharp decline in global bank stock prices and swift response by regulators to prevent potential global contagion. Banks across the US scrambled to respond to the crisis. Join me on May 24th for a discussion on how you can protect your business and be prepared [...]
Our friends at IBM are running ran a webinar on May 9 that is a great opportunity to see decision automation in action: As expectation grows for faster and more personalized digital experiences, business decisions are increasingly important – and often more complex. Intelligent decisions that fuse predictions and policies can deliver more effective decisions [...]
Our CTO Ryan Trollip is presenting with Scott Horwitz from FICO in a great webinar coming up on April 20th: Insurance claims management is a complex business. Customers want their claims processed and approved quickly. Insurance providers need to manage risk, improve scalability, retain institutional knowledge when staff changes, reduce overhead costs of management, and [...]
I got my hands of a copy of Krishna Pera’s new book, Big Data for Big Decisions recently. I met Krishna several years ago when he published some articles on being decision-driven not data-driven and on why it’s essential to prioritize decisions for your analytic efforts. He’d found some of my articles on being decision-centric [...]
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 [...]
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 [...]
Like many of you, I am sure, I am fan of xkcd. After all, any site that is both humorous and has a wiki to explain WHY it’s humorous (explainxkcd.com) must be good. A recent one struck a chord: We do a lot of work with companies that have been investing heavily in digitizing their [...]
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 [...]
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 [...]
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 [...]
Cassie Kozyrkov – Head of Decision Intelligence at Google- has a great piece on 12 Steps to Applied AI. As usual she’s got lots of great tips. I don’t have anything to add to her more technical steps but I want to add some commentary on Step 0 and Step 1. Let’s start with her [...]
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 [...]
