As the business world embarks on another new year in Big Data and Business Intelligence, many in the industry are excited to see the use of predictive analytics continue to expand, helping companies of all sizes flourish. With this in mind, we at Decision Management Solutions enjoyed reading Forbes’ recent article, “Six Business Intelligence Predictions for 2016.” Although all interesting points, we think our readers will agree that Prediction 4: “Enough about data – where’s the information?” really gets to the heart of the matter. As too many companies have learned the hard way, without improving decisions with Decision Management, Big Data falls short of its promise.
Decision Management Solutions believes Big Data, even with the support of Predictive Analytics, is not enough to effect change. Although mining your company’s data and extracting useful facts, figures and insights is an essential activity, it is the asking of “so what?” that will deliver improved ROI. This is the core value proposition of decision management. In order to understand the “so what?” the decision making of the organization, especially the decisions currently buried in operational business processes and systems, must be made explicit, modeled and analytically improved.
Decision modeling is the core technique for defining the decision making and clarifying the “so what?”. Using a graphical representation that facilitates understanding and collaboration across teams, decision modeling also clarifies how and where to adopt and apply the growing array of business intelligence and advance analytic platforms, visualization and data discovery tools. Companies quickly know where to begin, what technology investments will have the highest impact and what data is needed.
We help companies adopt decision modeling to streamline processes, simplify business rules and operationalize analytics. As one customer put it, “Decision modeling enables us to model our business by dividing it into concrete parts that are understandable to business people without being too detailed.”
As you set your business intelligence goals for 2016, begin with decision modeling to clarify the “so what?” and build a decision management capability to become a more analytically driven organization. We are one of the most experienced decision management and decision modeling consultants and trainers in the world so take the first step toward a more analytical 2016 by scheduling a free consultation with us today.