Predigy is a technology originally developed by Intelligent Results (founded in 2001) that was acquired by First Data in 2007. It was originally focused on the military (particularly on the analysis of unstructured data) but has subsequently moved into commercial applications. Predigy is now a decisioning platform with some applications in banking, collections, telecommunications [...]

Last week I saw a post comparing Best Buy and Circuit City - one thriving and one going into bankruptcy - and it made me think about the role of decision management in Best Buy’s success. I have head Best Buy present various times an a number of elements of their successful customer-centricity strategy are [...]

CRM Daily had a nice little article on Customer Retention that reminded me of the example I often use for how the elements of decision management contribute to more effective customer retention decisions. Large organizations spend vast sums on retention - one bank, for instance, spends $1Bn annually - and retention is a perfect candidate [...]

I thought I would wrap up with some closing thoughts for the week:

Lots of discussion of the importance of data - understanding it, integrating it, cleaning it and making the same data available to those reporting on it, doing analytics with it and running operational systems.
Interesting times in the rules market with recent acquisitions by [...]

David Griffith from CUNA Mutual Group talked about predictive analytics in a B2B environment. CUNA targets credit unions and cooperatives and their members with software and insurance products. CUNA Mutual needed to acquire new credit union accounts for direct insurance products - credit unions who sign up can offer a full range of insurance products [...]

Two gentlemen from Deloitte presented Integrating Predictive Analytics and BRM to Improve Health Plan Member Experience. 80% of healthcare costs are incurred by 20% of members and traditionally the 20% get all the focus. Analytics and data mining get applied to claims, authorization, costs as a result. Segmentation focuses on the unprofitable and unhealthy. Increasingly [...]

Michele Edelman of Discover presented on Building Blocks of Decision Management: “Tools to Rule”. Michele spends a lot of time educating people inside Discover and her team use sources like McKinsey to show executives why EDM matters. For instance, a report on top 10 macro-economic trends:

Centers of economic activity will shift profoundly not just globally [...]

Eric Siegel, who is chairing the new Predictive Analytics World show, presented on predictive analytics and business rules. Predictive analytics, says Eric, is a business intelligence technology that products a predictive score for each customer or prospect … and explanations thereof. These scores come from predictive models that are developed across your historical data. This [...]

I am at the EDM Summit this week and will be blogging live from some of the sessions and posting random thoughts and comments in addition. Despite the difficult market conditions, attendance looks good with a nice full room for the keynote and attendees from 17 countries. This year’s event also has a dozen new [...]

Well at least one more as of today - Jim Sinur, over on his Gartner blog - has finally started to use the phrase he has been threatening to use for a while “Intelligent Decision Management”. While Jim has not published a formal definition - I expect he will soon now he is back at [...]