“If you have some clarity up front about what decisions your company needs to make, and what the key attributes are of each decision, you’ll have a lot more luck in putting smart technology to work on those decisions.” – Tom Davenport, WSJ CIO Journal, December 3, 2014
As 2014 draws to a close, I would like to share with you some tips for your 2015 decision management plans. As Tom Davenport writes in his recent WSJ CIO Journal article, the best start to your investment in smart technologies like business rules management systems, predictive analytics and even in visualization and business intelligence is to know what decisions are driving your performance.
Tip #1 – Adopt Decision Modeling with DMN
Incorporate decision modeling and the decision model notation (DMN) standard in your requirements gathering approach. Decision modeling is the basis for improving operational efficiency and performance with these smart technologies.
Tip #2 – Redraw the Decision Automation Boundary
Stop assuming that a decision must be made manually, that it cannot be automated or driven by analytics. Use decision modeling to make it clear to business stakeholders where to draw the automation boundary, where smart technologies add real business value.
Tip #3 – Expand Your Portfolio of Analytic Capabilities
Adopt a mix of analytic capabilities – descriptive, diagnostic and predictive – from BI and reporting to data mining and advanced analytics. Then pick the right one for each problem, defined by the kind of decision making, the roles involve, and the analytic style that will deliver the decision automation and decision support you need.
Put decisions at the heart of your business architecture and analytic strategy for success in 2015.
Click here to read the full article, Smart Machines and the Decisions They Support. (WSJ registration may be required.)
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