Decision Management Solution Blog
Interview on Ugly Research – Interview Wednesday: James Taylor on decision management, analytics, and evidence.
Interview Wednesday: James Taylor on decision management, analytics, and evidence. Tracy Altman (@EvidenceSoup), who I interviewed here, interviewed me for her blog recently. We talked decisions, decision management and analytics. You can find the interview on theEvidence Soup blog here. Enjoy.
Decision Management and a business perspective on Big Data
Check out this article – Business leaders need Rs not Vs: The 5 Rs of Big Data. I met Merritt,the author, at the TDWI Solution Summit on Advanced Analytics this spring. In the post, and in his subsequent work, he makes some great points. I really like his 5Rs and think they illustrate the power of […]
Seth Godin: No Analytics without Action!
One of my students at UCI pointed me to this great Seth Godin post: Don’t measure anything unless the data helps you make a better decision or change your actions. If you’re not prepared to change your diet or your workouts, don’t get on the scale. Seth’s always worth listening too (I regularly quote his […]
Measurement, behavior, decisions and KPIs
One of the students on my UCI Class Business Goals for Predictive Analytics quoted his mentor in a discussion we were having about cross-referencing metrics or KPIs with the decisions that influence them. Only measure those things you are willing to change and be willing to change the things you measure. I really liked this […]
Live Event: Insurance Analytics Symposium 2014: Industrializing Analytics
I am speaking on Industrializing Analytics for Better Decisions Everywhere at the Insurance Analytics Symposium in New Orleans, October 17.
Insurers of all sizes know they must adopt analytics, especially predictive analytics, to maximize the value of their customers, manage risk and compete effectively. One-off, ad-hoc approaches to analytics can demonstrate the value of analytics but are no basis for ongoing success. To succeed, Insurers need to industrialize their approach to analytics, making it integral to day-to-day operations.
In this session leading expert James Taylor will share the three keys to success based on his experience of helping insurers industrialize their analytic efforts and so u
The Economist: Big Data, Little Decisions
There was a fascinating piece in the Economist last week – Little things that mean a lot. This piece really resonated with me – even the title sounds a lot like my mantra of “Big Data, Little Decisions” (you can see a selection of the articles and webinars I have given on this topic here). So what were the critical points Schumpeter made?
First the point that constant experimentation and rapid iteration is critical when trying to get value from all this data. Experimentation is often the skill we tell clients they most need to develop and we regularly stress the importance of putting in place the infrastructure and processes for ongoing decision results analysis. To maximize the value of big data and beco
Ugly Research: Data is easy, Deciding is hard
Tracy Allison Altman over at Ugly Research has a great new white paper – Data is easy: Deciding is hard – in which she quotes me (thanks Tracy). It’s a great paper and makes what I think is the critical point – that you don’t need a data culture but a decision culture. And I would add that you need this at every level – strategic, tactical and operational. The paper has some great advice and I would add a couple of additional thoughts:
For decisions you make often – some tactical and all operational decisions for instance – build a decision model so you know how you think you are going to/should make the decision moving forward. Here at Decision Management Solutions we use the new Decision Model and Notation (DMN) Standard and our modeling
Two live events in July on Predictively Enabling Your Organization
I am presenting at four evening events in July on Predictively Enabling your Organization. Sponsored by Predixion, these events will introduce you to predictive analytics and will share practical tips on how to leverage predictive analytics to improve results across your business. I’ll discuss the power of Predictive Analytics, how to get started and how to scale across your organization.
There are four events and you can request registration here for any of them.
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