We’ve posted Version 7 of our popular Decision Management Systems Platform Technologies Report with new content on The Analytics Capability Landscape. We also welcome new vendors Blue Yonder and Erudine to the platform vendor index.
Organizations are adopting a new class of operational systems called Decision Management Systems to meet the demands of consumers, regulators and markets because traditional systems are too inflexible, fail to learn and adapt and crucially cannot apply analytics to take advantage of big data.
Decision Management Systems are built by focusing on the repeatable, operational decisions that impact individual transactions or customers. Once these decisions are discovered and modeled, decision services are built that embody the organization’s preferred decision-making approach in operational software components. The performance of these components, and the impact of this performance on overall organizational performance, is tracked, analyzed and fed back into improving the effectiveness of decision-making.
Decision Management Systems offer high ROI because they improve the management of risk and the matching of price to risk; because they reduce or eliminate fraud and waste; because they increase revenue by making the most of every opportunity; and because they improve the utilization of constrained resources across the organization.
Decision Management Systems are different from traditional enterprise applications and from business process or event-based systems. Established approaches and technologies play a role in the development of Decision Management Systems. Used alone, however, these technologies and approaches tend to deliver systems that are inflexible, static and opaque. To fulfill the promise of agile and adaptive systems that fully leverage big data, organizations will need to expand their enterprise architecture to include capabilities from the proven technologies described in this report. Tested and established in many industries, technologies suitable for developing Decision Management Systems include Business Rules Management Systems, data mining or Predictive Analytic Workbenches and Optimization suites as well as new in-database analytic infrastructure and more. Organizations will need to select those that have the capabilities they need, that demonstrate Decision Management best practices and that fit the organization’s architecture and use cases.
This report describes these product categories and identifies the key capabilities of these technologies. Best practices in their use and key use cases are identified and discussed. An extensive list of vendors in the market is provided and an appendix provides more detail on Decision Management Systems.
You can read the report online or download a pdf here: