Introduction to decision management
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James Taylor, CEO of Decision Management Solutions, introduces the key principles of Decision Management Systems and explains their role in a modern information systems architecture. You will learn what it means for Decision Management Systems to be agile, analytic and adaptive. The four principles of Decision Management Systems will be introduced and the power of Decision Management Systems will be shown with case studies.
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Introduction to decision management
- 1. An Introduction to Decision Management James Taylor CEO
- 2. Your presenter – James Taylor CEO of Decision Management Solutions Works with clients to improve their business by applying analytic technology to automate & improve decisions Spent the last 9 years championing Decision Management and developing Decision Management Systems © Decision Management Solutions, 2012 1
- 4. A changing world Changing Scale Changing Expectations Changing Interactions © Decision Management Solutions, 2012 3
- 5. What are Decision Management Systems? Agile Analytic Adaptive © Decision Management Solutions, 2012 4
- 6. Decision Management Systems… Keep the Are decision in transparent mind and agile Are Test, learn, predictive and improve not reactive © Decision Management Solutions, 2012 5
- 7. 3 Steps to Decision Management Discover Build Improve © Decision Management Solutions, 2012 6
- 8. Discover
- 9. Decision Management Systems… Keep the Are decision in transparent mind and agile Are Test, learn, predictive and improve not reactive © Decision Management Solutions, 2012 8
- 10. Decisions Making choices or selections and taking action © Decision Management Solutions, 2012 9
- 11. Different kinds of decisions Strategic Decisions • Few in number, large impact • Should we acquire this company or exit this market? Tactical Decisions • Management and control, moderate impact • Should we re-organize this supply chain, change risk management approach? Operational Decisions • Day-to-day decisions that affect one transaction or customer • Best offer for this customer? How risky is this loan? Is this claim fraudulent? © Decision Management Solutions, 2012 10
- 12. Suitable decisions Repeatable Non trivial Measurable Candidate for business automation impact © Decision Management Solutions, 2012 11
- 13. Operational decisions everywhere © Decision Management Solutions, 2012 12
- 14. Decisions implement strategy © Decision Management Solutions, 2012 13
- 15. Decisions are the focal point for risk Risk is not acquired in “big lumps” but one transaction at a time © Decision Management Solutions, 2012 14
- 16. Decisions maximize customer value © Decision Management Solutions, 2012 15
- 17. Decisions scale for large impact Strategic Decision Tactical Decision Operational Decision © Decision Management Solutions, 2012 16
- 18. Advice: Begin with the Decision in mind Discover Build Improve Find the decisions that matter to your business and model them © Decision Management Solutions, 2012 17
- 19. Build
- 20. Decision Management Systems… Keep the Are decision in transparent mind and agile Are Test, learn, predictive and improve not reactive © Decision Management Solutions, 2012 19
- 21. Build decision-making components Operational Systems Decision Analytic Systems © Decision Management Solutions, 2012 20
- 22. Manage the rules of decisions Decision © Decision Management Solutions, 2012 21
- 23. Unmanageable business rules 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); } } } © Decision Management Solutions, 2012 22
- 24. Clarity and transparency are needed If customer is GoldCustomer and Home_Equity_Loan_Value is more than $100,000 then college_loan_discount = 0.5% If member has greater than 3 prescriptions and prescription’s renewal_date is less than 30 days in the future then set reminder=“email” If patient’s age is less than 18 and member’s coverage is “standard” and member’s number_of_claims does not exceed 4 then set patient’s coverage to “standard” © Decision Management Solutions, 2012 23
- 25. Patterns inform decision-making 10 5 0 Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Day 8 Day 9 Day 10 © Decision Management Solutions, 2012 24
- 26. Time to look forward? © Decision Management Solutions, 2012 25
- 27. Three kinds of Predictive Analytics Risk Fraud Opportunity © Decision Management Solutions, 2012 26
- 28. Advice: Find decision-making rules Discover Build Improve Analyze and manage the business rules that underpin your operational decisions © Decision Management Solutions, 2012 27
- 29. Advice: Industrialize Predictive Analytics Discover Build Improve Decision Become efficient at building and embedding predictive analytic models © Decision Management Solutions, 2012 28
- 30. Improve
- 31. Decision Management Systems… Keep the Are decision in transparent mind and agile Are Test, learn, predictive and improve not reactive © Decision Management Solutions, 2012 30
- 32. Measure decision performance © Decision Management Solutions, 2012 31
- 33. Experiment to learn and adapt © Decision Management Solutions, 2012 32
- 34. Don’t just create a decision point © Decision Management Solutions, 2012 33
- 35. Create Continuous improvement © Decision Management Solutions, 2012 34
- 36. Advice: Learn to experiment Discover Build Improve Learn to experiment and use the data from experiments © Decision Management Solutions, 2012 35
- 37. Questions?
- 38. Decision Management Systems What if you could make your systems active participants in optimizing your business? What if your systems could act intelligently on their own? Decision Management Systems can do all that and more. This book shows how to integrate operational and analytic technologies to create more agile, analytic, and adaptive systems. Discount Code: TAYLOR4389 For more information about this new release, visit www.decisionmanagementsolutions.com/book © Decision Management Solutions, 2012 37
- 39. To Decision Management Systems © Decision Management Solutions, 2012 38
- 40. Learn more Webinars Workshop in Berlin Business Rules and Decision Management Decisions and Decision March 14, 7am PT/16:00 CET Management Predictive Analytics and June 4 and 5, 2012 Decision Management Berlin, Hotel Alexander Plaza April 11, 7am PT/16:00 CET Identifying decisions Report on platform Design of decisions Managing decision logic technologies Decisions in systems decisionmanagementsolutions.com/ Getting started decision-management-technology Details at http://www.enterprise-design.eu © Decision Management Solutions, 2012 39
- 41. Thank You James Taylor, CEO james@decisionmanagementsolutions.com 40