By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    data science anayst
    Growing Demand for Data Science & Data Analyst Roles
    6 Min Read
    predictive analytics in dropshipping
    Predictive Analytics Helps New Dropshipping Businesses Thrive
    12 Min Read
    data-driven approach in healthcare
    The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas
    6 Min Read
    analytics for tax compliance
    Analytics Changes the Calculus of Business Tax Compliance
    8 Min Read
    big data analytics in gaming
    The Role of Big Data Analytics in Gaming
    10 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Build Your Decision Capability with Decision Management
Share
Notification Show More
Latest News
ai in automotive industry
AI Is Changing the Automotive Industry Forever
Artificial Intelligence
SMEs Use AI-Driven Financial Software for Greater Efficiency
Artificial Intelligence
data security in big data age
6 Reasons to Boost Data Security Plan in the Age of Big Data
Big Data
data science anayst
Growing Demand for Data Science & Data Analyst Roles
Data Science
ai software development
Key Strategies to Develop AI Software Cost-Effectively
Artificial Intelligence
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Analytics > Build Your Decision Capability with Decision Management
Analytics

Build Your Decision Capability with Decision Management

JamesTaylor
Last updated: 2013/11/16 at 9:00 AM
JamesTaylor
4 Min Read
Image
SHARE

ImageThe old way

ImageThe old way

Few organizations treat their decisions as first class objects. Business analysts don’t write requirements for them while enterprise architects don’t include them in their patterns. Organizations may invest heavily in technology to improve decisions such as Business Intelligence or predictive analytics, but they don’t know which decisions they are hoping to improve – at least not in any detail.

Some organizations have developed a robust business process modeling capability and are actively managing their process inventory. Similar portfolio management techniques are being applied to existing systems, to data assets and more. Yet the way an organization makes decisions is rarely modeled or managed in this way

More Read

data science anayst

Growing Demand for Data Science & Data Analyst Roles

Predictive Analytics Helps New Dropshipping Businesses Thrive
The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas
Analytics Changes the Calculus of Business Tax Compliance
The Role of Big Data Analytics in Gaming

Performance Management is another area of investment. One of the purposes of performance management metrics and Key Performance Indicators is to motivate behavior. If behavior is changed by these systems then someone, or some system, made choices designed to positively impact the metric in question. Organizations take this for granted but have only the most rudimentary understanding of what these choices are and what else might drive those decisions.

The new way.

Organizations are beginning to identify and manage decisions as first class objects in their business architecture. They are treating their decision inventory the way they treat their data or process inventory. They are tying these decisions to their performance measures so they understand how to tell good decisions from poor ones. And they are driving business rules and analytic implementations to automate, manage and improve these decisions as they identify them.

Most important you need to do this first – before you write rules, before you define analytics that you need and before you finish defining your process. Otherwise you end up with a big bucket of rules you can’t apply, analytics that won’t improve the business and processes that are over complicated. Because decisions can be complex you also need a way to model those decisions, using the newly accepted Decision Model and Notation standard for preference.

Tip #4: Decisions First.

Don’t forget that Decision Management Solutions is exhibiting at Building Business Capability 2013. We provide a complete set of consulting, training and software support for Decision Management to position you for short- and long-term success with business rules and big data analytics. Come by our booth (P8) and meet me and our VP Consulting Gagan Saxena. For more on decision management:

  • I am speaking on lessons learned and best practices modeling decisions in aerospace, banking, insurance and healthcare (Thursday)
  • There’s a panel discussion on decisions from the business perspective (Thursday)
  • My book “Decision Management Systems: A Practical Guide to Using Business Rules and Predictive Analytics” will be at the bookstore and I will be signing books and answering your questions (4:20pm on Thursday)
  • Learn how the new  Decision Model and Notation Standard will make it easier to model decisions and share the results at the panel (Friday)

 

image: Decision making/shutterstock

JamesTaylor November 16, 2013
Share this Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

ai in automotive industry
AI Is Changing the Automotive Industry Forever
Artificial Intelligence
SMEs Use AI-Driven Financial Software for Greater Efficiency
Artificial Intelligence
data security in big data age
6 Reasons to Boost Data Security Plan in the Age of Big Data
Big Data
data science anayst
Growing Demand for Data Science & Data Analyst Roles
Data Science

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

data science anayst
Data Science

Growing Demand for Data Science & Data Analyst Roles

6 Min Read
predictive analytics in dropshipping
Predictive Analytics

Predictive Analytics Helps New Dropshipping Businesses Thrive

12 Min Read
data-driven approach in healthcare
Analytics

The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas

6 Min Read
analytics for tax compliance
Analytics

Analytics Changes the Calculus of Business Tax Compliance

8 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data
AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?