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 [...]
optimization
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 [...]
A new white paper outlines the journey to optimal decisions and the role of mathematical optimization in getting the business results you want.
Frontline Solvers has been in business for over 25 years and focused on democratizing analytics for the last five years. They identify themselves as an alternative to analytic complexity with a focus on leveraging broadly held Excel skills and a large base of trained students. They offer several products for predictive and prescriptive analytics and [...]
Seth Dobrin wrapped things up to discuss some go to market strategies and client successes. The IBM Data Science Elite Team is a team of experts that IBM offers to customers to help jump start data science and AI initiatives. Specifically they focus on helping new data scientists make the transition from college to corporate. [...]
Daniel Hernandez kicked things off with a discussion of data for AI. AI adoption, IBM says, is accelerating with 94% of companies believing it is important but only 5% are adopting aggressively. To address perceived issues, IBM introduced its ladder to AI Trust based on Automate (ML) based on Analyze (scale insights) based on Organize [...]
DecisionCAMP 2018 in in Europe – Luxembourg to be precise – September 17-19. This is a great event and well worth your time if you are interested in the nuts and bolts of decisioning technology, Decision Management or decision modeling. Last year’s event in London was great with a wide range of presentations and lots [...]
All industry standards offer interchange. Successful standards offer skills interchange not just a technical interchange format. The Decision Model and Notation (DMN) decision modeling standard has a published XML interchange format, of course, and several of the committee’s members are working really hard to iron out the remaining issues and make the XML interchange more [...]
The first day at Decision CAMP 2017 is focused explicitly on the Decision Model and Notation (DMN) standard. Alan Fish introduced the ongoing work on 1.2. He quickly summarizes the new features in 1.1 – such as text annotations and a formal definition of a decision service. Then he went through the new features, starting [...]
We are running our regularly scheduled, and highly reviewed, Introduction to Decision Management training again July 12-14, 10am-11:30am Pacific each time. A concise course for executives, managers and stakeholders stressing the key concepts and terminology of the proven decision management approach. This approach underpins the successful deployment of business rules management systems (BRMS) and predictive [...]
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 [...]
Lisa Kart and Roy Schulte recently published a new research report Develop Good Decision Models to Succeed at Decision Management (subscription required). This is the first piece of formal research published by Gartner on decision modeling. Their introduction text says The industry trends toward algorithmic business and decision automation are driving wider adoption of the decision management [...]
The Call for Speakers is open for DecisionCAMP 2016 until April 1st. This year DecisionCAMP will be hosted by the International Web Rule Symposium (RuleML) on July 7, 2016 at Stony Brook University, New York, USA. This event will aim to summarize the current state in Decision Management with a particular focus on the use of the Decision Model and Notation (DMN) [...]
Customer Intelligence is a core focus for SAS. Over the last year, real-time next best action, optimization, marketing efficiency are driving investments in Customer Intelligence in the SAS customer base. More organizations have initiatives focused on improving the customer experience, integrating digital silos for a digital experience and big data. The Customer Intelligence product is designed [...]
This year DecisionCAMP will be hosted by the International Web Rule Symposium (RuleML) on July 7, 2016 at Stony Brook University, New York, USA. This year’s event will aim to summarize the current state in Decision Management with a particular focus on the use of the Decision Model and Notation (DMN) standard. As always it will show [...]
As you may have noticed I am working on a new book – Available now! Real-World Decision Modeling with DMN – with Jan Purchase. Yesterday Jan had a great blog post – Why Decision Modeling? (In 1000 Words). Jan makes some great points, emphasizing the value of decision modeling with DMN in: Transparency of the logic Separation of [...]
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 [...]
I got a briefing from a company that’s new to the US but that I have been aware of for a while – BusinessOptics. The company was founded in South Africa and started about four years ago. The product itself was first released about two years ago and the initial customers are primarily in South [...]
Roy Schulte of Gartner gave a webinar last week on “Best Practices for Real-Time Analytics and Decision Management” Digital business is driving CIO and senior IT leader awareness of decision management, an emerging discipline comparable to data management and business process management. Decision management improves business effectiveness by embedding real-time analytics and business rules into [...]
IBM’s advanced analytics portfolio contains its descriptive analytics, predictive analytics and prescriptive analytics products (everything from Cognos to SPSS to optimization and decision management). Within this portfolio is IBM’s decision optimization portfolio that contains the solver technology embedded in many IBM and external products. This demand for decision optimization involves enterprise Operations Research (OR) teams, [...]
