Today’s warranty systems deliver value to companies by increasing efficiency through process automation and workflow. The use of manual decision points within these processes and systems, however, creates bottlenecks and under-utilizes company expertise. Insight gained from data mining and analysis is restricted to the back office and IT resources cannot be freed up from systems maintenance. A new generation of warranty systems is required.
Next generation warranty systems recognize decisions as reusable assets and replace decision points like claim adjudication or fraud detection with Decision Services. These eliminate manual reviews, increase agility and put business users in control. Data mining and analytic insights feed back into these Decision Services to improve the accuracy and effectiveness of these decisions while ongoing Decision Analysis creates a process for continuous improvement. This approach is known as Decision Management.
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Applying predictive analytics to operational decision making is the next wave of business innovation. Operational decisions are critical to how an organization treats, and is perceived by, its customers and its partners. Decision Management is the framework needed to fully exploit this opportunity.
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Decision Management is the framework that ties business rules to business objectives and KPIs. A Decision Management approach to business rules begins by looking at business performance drivers, identifying the decisions that are impacting them, and analyzing what decisions will have the biggest return.
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This paper discusses decision management and the technology used for operational decision making. It details the risks and issues involved and how these risks might be mitigated and an adoption scorecard and reference architecture are defined.
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Today’s insurance claims systems deliver value to companies by increasing efficiency through process automation and workflow. Manual decision points create bottlenecks and under-utilize expertise. Insight from analysis is restricted to the back office. A new generation of claims systems is required.
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In an increasingly uncertain world, businesses require agility more than ever. But no organization can be more agile than its systems. Decision Management transforms your hard-to-change IT applications into action–oriented, flexible, predictive, smarter systems that learn and adapt.
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Organizations face many challenges in today’s business climate and are handicapped by systems that are centered on processes or functions. To succeed, these organizations need to move their thinking from processes and functions to decisions.
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