Decision Management Systems: A Practical Guide to Using by James Taylor

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By James Taylor

"A very wealthy e-book sprinkled with real-life examples in addition to battle-tested advice.”—Pierre Haren, vice chairman ILOG, IBM"James does a radical activity of explaining selection administration platforms as enablersof a powerful enterprise transformation.”—Deepak Advani, vice chairman, enterprise Analytics items and SPSS, IBMBuild structures That paintings Actively that will help you Maximize development and ProfitsMost businesses depend upon operational platforms which are mostly passive. yet what in case you can make your structures energetic individuals in optimizing what you are promoting? What in case your platforms may well act intelligently all alone? research, not only file? Empower clients to do so rather than easily escalating their difficulties? Evolve with out big IT investments?Decision administration structures can do all that and extra. during this booklet, the field’s top professional demonstrates find out how to use them to force unheard of degrees of commercial worth. James Taylor indicates tips on how to combine operational and analytic applied sciences to create platforms which are extra agile, extra analytic, and extra adaptive. via genuine case reports, you’ll the best way to mix applied sciences reminiscent of predictive analytics, optimization, and company rules—improving customer support, decreasing fraud, dealing with possibility, expanding agility, and riding growth.Both a pragmatic how-to consultant and a framework for making plans, selection administration platforms specializes in mainstream company challenges.Coverage includesUnderstanding how selection administration structures can remodel your businessPlanning your structures “with the choice in mind”Identifying, modeling, and prioritizing the selections you must optimizeDesigning and enforcing powerful selection servicesMonitoring your ongoing decision-making and studying find out how to increase itProven enablers of powerful choice administration platforms: humans, method, and technologyIdentifying and overcoming stumbling blocks which can derail your determination administration platforms initiative

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These policies define what credit limit might be approved for an account, when a credit line increase might be appropriate, or what kind of credit product should be offered. The financial institution sets up a default approach and identifies the others for testing. What-if analysis tools compare the approaches and estimate the likely difference between them based on past results. Just because what-if analysis identifies an approach as superior, however, does not mean it will actually work better when it is tried on real customers.

Targeting and Retaining Analytic Decision Management Systems originally focused on improving risk and fraud decisions. With the potential for a large downside on each decision—undetected fraud or unmanaged risk translates into losses very directly—the value of a Decision Management System is high. This was important when building these systems was expensive, 12 Decision Management Systems but as the price of developing analytics and Decision Management Systems has come down, their potential in marketing has exploded.

8 Decision Management Systems Improving Decision Making by Capturing Rapidly Changing Know-How Decision Management Systems deliver significantly greater agility than traditional systems. This agility is focused on improving decisionmaking by capturing rapidly changing know-how. The beauty retailer captured the know-how of its marketing team to create an agile loyalty and rewards program. Benecard made sure it stayed up to date with regulations so it could deliver great services for its customers.

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