Innovation in Insurance: Profit by Focusing Innovation on Decision-Making

The most important decisions are made every day. Insurers that adopt a decision-centric approach to analytics and artificial intelligence are improving business outcomes. Setting the stage There has been a level of frustration and insecurity in the past few years about the fate of the insurance industry. At first, vendors and other service providers raised […]

How to Succeed with AI

Focusing on decisions, not a separate AI initiative, delivers business value and a strong ROI. As companies invest in AI technologies, it is clear a technology-led approach does not work. To get business value from AI, companies should focus AI efforts on improving business decisions. A recent HBS survey of executives adopting Artificial Intelligence (AI) provides […]

Hot Vendors in Digital Business Platforms, 2017

Silicon Valley research firm cites Decision Management Solutions as a visual and business-friendly extension to digital business platforms. June 22, 2017 The Digital Business Platform (DBP) market is a new and emerging market. The DBP combines five major technical tributaries to create a cornerstone technology base that supports the changing nature of business, as well […]

Maximizing the Value of Business Rules

Decision Management streamlines and focuses business rules projects for faster, more effective deployment. Business Rules Management Systems (BRMS) deliver on the promise of costs savings, agility and happy customers. Yet for many organizations, these efforts remain point solutions. Decision Management is a proven framework to drive the widespread adoption of business rules and improved business […]

Decision Modeling with DMN

Decision Requirements Models based on the Decision Model and Notation (DMN) standard deliver a powerful ROI by improving processes, effectively managing business rules projects, framing predictive analytics efforts, and ensuring decision support systems and dashboards are action-oriented. This paper describes the iterative steps to develop and complete an effective Decision Requirements Model using the DMN […]

5 Steps to Streamline Reporting for Better Data-Driven Decisions

Everyone wants to make better data-driven decisions. While reporting can support decision making, often existing reporting approaches seem more likely to get in the way, bogging down progress toward analytic decision-making. Take these 5 steps to streamline reporting and focus on decision-making. Find out what decisions the reports are for See what decisions matter to […]

Knowledge Objects in DMN

There are two key knowledge objects in DMN—Business Knowledge Models (BKMs) and Knowledge Sources. They have quite different purposes despite the similar names. Knowledge Sources are for documentation. BKMs are about implementation. Possible Points of Confusion Because both objects involve “knowledge”, there is some confusion about how to document source documents. These are Knowledge Sources […]

Framing Analytic Requirements with Decision Modeling

How to achieve analytical, data-driven decisions with decision modeling and the Decision Model and Notation (DMN) standard.  The value proposition of analytics is almost always to improve decision-making. Being explicit about the decision-making to be improved is an effective tool for framing analytic requirements. Organizations are making significant investments in analytic technologies. These investments range […]

Real-World Decision Modeling with DMN – Free Chapter

Real-World Decision Modeling with DMN has been written by two of the world’s leading practitioners in decision modeling: James Taylor, CEO of Decision Management Solutions and Jan Purchase, founder of Lux Magi. “The key to accountability, repeatability, consistency and even agility is a well-defined approach to business decisions, and the standard and this book gets […]

Putting Predictive Analytics To Work in Operations

Small operational decisions, especially those about customers, are made over and over. The value of these decisions rapidly adds up. Making these decisions well is critical to business performance.  Maximizing the value of each operational decision is at the core of Decision Management. Because these decisions about customers are made at the front line of an […]