Ed Garry of Oracle wrote a piece for Wall Street and Technology called Analytics Help Firms Turn Data Into Opportunity that I found last week. In it Ed talks about Real Time Decisioning platforms that “deliver both rules and predictive analytics to power solutions for real-time enterprise decision management”. Ed is, of course, correct though [...]

Transpromotional marketing - yes, another new phrase that I heard for the first time this week. Wooing Customers in a Weak Economy was the source - an article on 1:1. Chris Stone wrote the article and it talks about the need to use different channels to contact customers and to do so consistently and in [...]

Version 17? Yes, SPSS has been at this a while. Today they announced version 17 of their Statistics package. While this has some new features to handle more data and some improved asset management (an analytic repository), the big features are really about bringing more business users into the analytic fold. One feature in this [...]

A: www.youtube.com/watch?v=1zDwIfSDQiE
(Falcon, by the way, is the name of Fair Isaac’s fraud detection product that combines a neural network - a form of predictive analytics - with business rules and dynamic profiles to make real-time decisions about credit card fraud).

One of my regular readers had a question today about Enterprise Decision Management and the Software Development Lifecycle - the EDMSDLC if you like. Here’s what he asked:
We do Business Rules in our approach… I guess one question would be, where does EDM fit in a typical SDLC? [company] does Requirements, we have a method [...]

The same reader who asked yesterday’s question had a second:
Do you see the terms “Enterprise Decision Management” and “Smart Enough Systems” concerned mostly with the automation of decisions — which means really only covering strictly operational and appropriate tactical decisions.
The term “Enterprise Decision Management” to me suggests a broader definition, one that I would expect [...]

Chordiant announced Recommendation Advisor 6.1 today, a “real-time conversation and interaction management solution”. This Next-Best-Action engine is built on Chordiant’s Decision Management platform and designed to both improve self-service channels and support call center staff.  It uses rules and analytics to make the best recommendation and dynamically adapts during a conversation, for instance if the [...]

Some time ago I saw an article that discussed the 8Ps (4 old, 4 new) of Marketing. It seemed to me that decision making, especially operational/transactional decision making is critical to most of these Ps. Here, then, is my summary of the 8Ps and why decisions, and decision management, matter.
4 Ps

Product
You might think that [...]

I just finished reading The Best Service is No Service: How to Liberate Your Customers from Customer Service, Keep Them Happy, and Control Costs and I can’t recommend it too highly.
This is a tremendous book laying out a systematic approach for better customer service. Predicated on the idea that customers want your product to “just [...]

Visual Numerics is a 100 person, privately held company that’s been around for a while - nearly 40 years - and yet is largely under the radar thanks to the size of other “analytics” companies. As the business world moves from BI to analytics it is sometimes finding that BI tools are really focused on [...]