Decision Management Solution Blog
Lux Magi and Decision Management: An interview with Jan Purchase (Part 1)
We have been expanding recently, adding partners to help us deliver decision management to customers around the world. You can see the current list of partners here on Decision Management Solution’s website. To introduce these partners to you I am going to be conducting a series of interviews in the coming weeks. I am going to begin with a partner of ours based in the UK that focuses on investment banking – LuxMagi.
Please describe your current role and title and tell us a little about your company
I’m Jan Purchase, the director and co-founder of Lux Magi Ltd. We enable financial institutions to manage and automate fast-evolving, complex business logic that’s crucial to the survival of their companies. Our cli
Share your thoughts on advanced analytics
Hurwitz & Associates will update their Victory Index on Advanced Analytics in 2014. This report will summarize key trends in advanced analytics, provide information on vendor offerings, and report on vendor strengths and weaknesses from an end user perspective. In order to help guide end users who are making a decision on selecting an advanced analytics vendor, they would like to include feedback from current users. So, if you are a user of advanced analytics for use cases such as predicting consumer behavior, churn analysis, fraud analysis, predicting equipment failure, and reducing risk, they would really like to hear what you think. To help them understand how a broad group of users of advanced analytics solutions rate the capabilities and benefits of the products they use, go to surveymonkey.com/s/HurwitzVictoryIndexdecman and let them know.
And don’t forget you can see my revi
Standards in Predictive Analytics: A White Paper
To wrap up the series I have been writing on standards in predictive analytics, here’s the report I have been working on. This report discusses each of the topics in the series – R, Hadoop and PMML – in more detail and pulls it all together in a single paper. You can get the Standards in Predictive Analytics paper here.
Thanks to our sponsors for this research, Revolution Analytics, Zementis and the Data Mining Group.
Another analytic practitioner speaks – an interview with Tracy Altman
Last year I interested Andrea Scarso, CEO of MoneyFarm, about analytics. This was a hugely popular post so I thought I would continue the series this year by interviewing some other analytic practitioners. The first in this continuing series is an interview with Tracy Allison Altman, co-founder of Ugly Research. Ugly Research are developing PepperSlice, […]
Another analytic practitioner speaks – an interview with Tracy Altman
Last year I interested Andrea Scarso, CEO of MoneyFarm, about analytics. This was a hugely popular post so I thought I would continue the series this year by interviewing some other analytic practitioners. The first in this continuing series is an interview with Tracy Allison Altman, co-founder of Ugly Research. Ugly Research are developing PepperSlice, an analytics application for explaining recommendations to decision makers. She’s on Twitter @EvidenceSoup, blogs at EvidenceSoup.com and you can read about her work at Ugly Research.
What’s your background, how did you come to be working in analytics?
I started out as an engineer, evaluating oil and gas investment decisions. This sparked my interest in data and analytical methods, so I got a Master’s (Computer Science concentration) and then a PhD in Pub
Decision Model and Notation officially adopted
Well it’s official – the Object Management Group’s Board of Directors has voted to publish the Decision Model and Notation (DMN) specification. You can see the press release here. Decision Management Solutions is excited to be a submitter for this new standard. As I say in the press release:
“Decision modeling is transforming how organizations adopt powerful technologies such as business rules and advanced analytics to automate and improve their decision-making. The Decision Model and Notation (DMN) standard provides an open and effective specification for this emerging practice. Decision Management Solutions is committed to supporting and using DMN and we’re delighted that the standard has been adopted and garnered broad support among OMG members.”
If you are interested in this standard and how it can complement proce
Webinar: Agile and Cost Effective Financial Compliance
I am giving a webinar on Agile and Cost Effective Financial Compliance: Going Beyond Business Rules with Decision Management on February 13 at 10am Eastern. I will be joined by Jan Purchase, Director and Founder of our investment banking specialist and Decision Management Solutions partner Lux Magi.
Decision management and business rules management systems are the ideal platform for an agile and cost-effective compliance approach. In regulated industries like financial services, leading companies are building compliance into every process and system with consistency and transparency across the entire organization and with the agility to meet ever more challenging deadlines. Companies that fail to do so incur huge costs with manual checks and balances and risk significant fines. We’ll share know-how and best pra
Standards in Predictive Analytics: Futures
In this series so far we have discussed a number of standards – R, PMML and Hadoop – that are well established. There are also some future developments that are worth considering—the emergence of the Decision Model and Notation standard, growing acceptance of Hadoop 2 and planned updates to PMML specifically.
As regular readers of this blog know, the Object Management Group recently accepted the Decision Model and Notation standard as a beta specification for finalization in 2014. DMN provides a common modeling notation, understandable by both business and technical users, that allows decision-making approaches to be precisely defined. These decision models can include the specification of detailed decision logic and can model the role of predictive analytics at a requirements level and at an implementation level through the inclusion of PMML models as functions. <a href="https://decisionmanagementsolutions.com/decision-modeling-
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