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The Mindset of Decision-Making: Best Practices to Increase Agility and Visibility with Operational Decision Management (ODM)
1. The Mindset of Decision-Making:
Best Practices to Increase Agility
and Visibility with Operational
Decision Management (ODM)
Ryan Trollip
Practice Director, Decision Management
2. Agenda
Decision Management & Automation
Why now?
Decisions and Process (BPM)
Practical Decision Automation
Innovation & Optimization
Decision Automation Example
6. Why do I care?
Decisions are your IP
Costs money to manage change
Slow to change
Often not visible
Dispersed & duplicated, Inconsistent
Lack of clear ownership
6
7. Difficult to manage!
public class Application {
private Customer customers[];
private Customer goldCustomers[];
...
public void checkOrder() {
for (int i = 0; i < numCustomers; i++) {
Customer aCustomer = customers[i];
if (aCustomer.checkIfGold()) {
numGoldCustomers++;
goldCustomers[numGoldCustomers] = aCustomer;
if (aCustomer.getCurrentOrder().getAmount() > 100000)
aCustomer.setSpecialDiscount (0.05);
}
}
}
11. Nexus of forces
Mobile Financial App
Sign in to mobile financial app to access
personal financial data
In-context social recommendations
See social recommendations in financial
app for banks. Initiate account opening
from app
Secure cloud-based personal data
Financial app populates cloud based
personal financial data into bank’s
account opening steps
Customer propensity with big data insight
Bank combines customer data with big data benchmarks on
external data to determine customer propensity for specific
products offered during account opening – i.e. offer money
market, credit cards?
Rules for credit limits & up-sell
Automatic decision points on credit
limits and approval levels. Determine
post account opening offers – migrate
401K account transfers?
Process for approvals & orchestration
Streamlined process to combine activation
and approval routing for recommended
products – checking accounts, overdraft
protection line of credit and money market
Account is activated and funded
before customer logs off
Account opening with
12. The gap in business operations is widening
Time to open a new account in retail banking
5 minutes – best
76 minutes – worst
Availability of loan funds
2 days – best
37 days – worst
Time for conditional mortgage approval
15 minutes – best in class
4 hours - median
Source: Boston Consulting Group, The “New New Normal” in Retail Banking, 2012
13. Drivers to Externalize Rules
Maturity of technology
Nexus of forces
Customer expectations
Competition
Customer Centricity
13
15. Simplify Business Processes
Complexity leads to
Us doing the wrong things
Losing sight of the customer
The customer losing interest in us
“Simplicity is the ultimate sophistication” Leonardo da Vinci
Simplifying business processes means enabling and
managing business decisions
Extract business rules from business processes
Encapsulate business rules in decision models
Enable ownership of processes and decisions
18. Accept low-risk
applicant
Decline high-
risk applicant
Process
medium-risk
applicant
Previous Accident,
Existing Infraction
Good Record
New Customer
Long-standing Customer
1 or fewer Claims Multiple Claims
Age 21 to 75
Age 16 to 21
Age over 75
19. Accept low-risk
applicant
Decline high-
risk applicant
Process
medium-risk
applicant
Previous Accident,
Existing Infraction
Good Record
New Customer
Long-standing Customer
1 or fewer Claims Multiple Claims
Car Type
Custom Car
Sports Car
Age 21 to 75
Age 16 to 21
Age over 75
20. Accept low-risk
applicant
Decline high-
risk applicant
Process
medium-risk
applicant
Previous Accident,
Existing Infraction
Good Record
New Customer
Long-standing Customer
1 or fewer Claims Multiple Claims
Car Type
Custom Car
Sports Car
Decisions in process/apps cause
complexity
Age 21 to 75
Age 16 to 21
Age over 75
21. Process low-
risk applicant
Process high-
risk applicant
Process
medium-risk
applicant
Low risk
Medium risk
High risk
Determine
applicant type
Identifying decisions simplifies them
27. Decision Words
Determine if a customer is eligible for a product
Validate the completeness of an application
Calculate the discount for an order
Assess which driver is high risk
Select the terms for a loan
Choose which loan to Fast Track
31. 31
Why? - Prescriptive
Deeper Analysis of Trends & Patterns
• Analysis and Exploration
• Ad-hoc Query
• Trend and Statistical Analysis
32. 32
What should we be doing? Predictive
Foresight to Plan & Allocate Resources
• What-If Analysis
• Predictive Analysis
33. ANALYTIC-DRIVEN ORGANIZATIONS are distinguished
by their ability to leverage …
All perspectives
Past (historical, aggregated)
Present (real-time)
Future (predictive)
At the point
of impact
All decisions
Major and minor
Strategic and tactical
Routine and exceptions
Manual and automated
All information
All information
Transaction data
Application data
Machine data
Social data
Enterprise content
All people
All departments
Experts and non-experts
Executives and employees
Partners and customers
33
All Processes
Operational
Management
Etc.
36. Reference Architecture
Centralize Decision & Workflow
Cache for performance (if necessary)
SOA backbone
36
Decision
Management
Workflow
/ BPM
ESB / SOA
MDM
Cache
System System System
37. Customer Behavior & Cross Sell
Channels have different answers.. Sometimes conflicting.
Inability to capture & act on
interesting behavior.
events, risk, etc.
37
Web
Call
Center
Branch
Channels
38. Customer Cross-Sell
Capture Predict Act
Customer Data
• Demographics
• Account Activity
• Product Holdings
• Channel Activity
• Information Requests
• Complaints
• …
Campaign Data
• Contact history
• Response/purchases
• Test campaigns
• …
Analyses
Predict who is likely to
respond, based on their
customer profile when
receiving the campaign
Scoring
Marketing
campaign
process
Key
Performance
Predictors and
Campaign
Results
Rank best 3
offers
Attitudinal Data
• Customer Surveys
• Twitter
• Discussion Forums
• Blogs
• …
Website
recommendation
engine
Sales campaigns
39. Use Case - Customer Behavior - Interest
Customer hits information pages on the site
Web interest captured in product/service B
39
Decision
Management
Workflow
ESB / SOA
MDM
Cache
Web
Call
Center
Branch
A
B
C
D
…
B
A
C
D
…
40. 40
Use Case – External Events
External events change internal priorities based on
rules/model
40
Decision
Management
Workflow
ESB / SOA
MDM
Cache
Baby
Web
Call
Center
Branch
A
B
C
D
…
B
C
A
D
…
41. 41
Use Case – Call Center
Not interested in certain products
Or tell me about it later
41
Decision
Management
Workflow
ESB / SOA
MDM
Cache
Web
Call
Center
Branch
B
C
A
D
…
B
C
A
D
…
6 Months
42. 42
Use Case – 6 Months Later
Workflow (BPM) kicked off by event
Customer called
Closed deal, update cache
42
Decision
Management
Workflow
ESB / SOA
MDM
Cache
Web
Call
Center
Branch
43. 43
Improve
Which product is more attractive to a wealthy customer?
Who do we risk loosing most as a customer?
43
Decision
Management
Workflow
ESB / SOA
MDM
Cache
Web
Call
Center
Branch
BIG
Data
44. Approach
Identify
Analytics and other techniques to identify what needs improving
Model
Models visualize, simplify and clarify business understanding
Automate
Automate complex decisions, processes and models
Manage
Automation is great… But the more complex the more difficult to
manage/change
Specialization of systems workflow, Modeling, BRMS, CRM, ECM etc.
Good management of decisions and process is key to flexibility and efficiency
Improve
Analytics used to improve processes and decisions
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45. 5 things to remember about Decision Management:
Decisions are independent of process
Brings agility, visibility, consistency, centralization of decisions
Makes process simpler & smarter
Decouples decisions from the development lifecycle
Allows the business to manage their own decisions
Wrap-up
46. Next Steps
See Operational Decision & Process Management in action
Learn what’s possible with Prolifics Offerings & Combination
offering By Prolifics & Decision Management Solutions
Discovery Workshop
Application Assessment
Iteration 1
Decision Modeling Training
Implement a 10 week quick start
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