Decision Management Systems: A Practical Guide to Using by James Taylor

By James Taylor

"A very wealthy booklet sprinkled with real-life examples in addition to battle-tested advice.”—Pierre Haren, vice chairman ILOG, IBM"James does an intensive activity of explaining choice administration structures as enablersof a powerful enterprise transformation.”—Deepak Advani, vp, enterprise Analytics items and SPSS, IBMBuild structures That paintings Actively that will help you Maximize development and ProfitsMost businesses depend upon operational structures which are principally passive. yet what for those who can make your structures energetic individuals in optimizing your enterprise? What in the event that your structures may well act intelligently all alone? research, not only document? Empower clients to do so rather than easily escalating their difficulties? Evolve with out huge IT investments?Decision administration structures can do all that and extra. during this ebook, the field’s top professional demonstrates tips to use them to force exceptional degrees of commercial price. James Taylor exhibits tips to combine operational and analytic applied sciences to create structures which are extra agile, extra analytic, and extra adaptive. via real case reviews, you’ll the best way to mix applied sciences comparable to predictive analytics, optimization, and enterprise rules—improving customer support, lowering fraud, dealing with threat, expanding agility, and riding growth.Both a realistic how-to advisor and a framework for making plans, selection administration platforms makes a speciality of mainstream enterprise challenges.Coverage includesUnderstanding how determination administration platforms can rework your businessPlanning your platforms “with the choice in mind”Identifying, modeling, and prioritizing the choices you want to optimizeDesigning and enforcing powerful determination servicesMonitoring your ongoing decision-making and studying the right way to enhance itProven enablers of potent determination administration platforms: humans, approach, and technologyIdentifying and overcoming stumbling blocks which may derail your determination administration structures initiative

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This new risk model was wrapped with business rules to ensure that the right policies and regulations were applied and that models could drive completely automated underwriting decisions. 10 Decision Management Systems The resulting analytic Decision Management System increased the written premium by 50%. Straight-through processing rose to 75% resulting in an increase in overall business flow of 73%. The number of agents quoting increased 19%, the number of quotes per agent increased 26%, and the submission flow increased 50%.

The same information is also used to present business- and relationship-maximizing cross-sell offers to the customer during checkout. All the promotions, eligibility rules, and calculations are centrally managed in a businessfriendly format, allowing for rapid changes and deployment. With the new system in place, the company saw a four-fold improvement in the time to market for hundreds of promotional offers every month. With more flexibility, the offers could be more creative and heavily personalized to target each customer.

Leading direct-to-consumer businesses now deliver real-time, immediate responses to consumer requests. Consumers can get instant credit in a retail store, using the new credit card to buy what is already in their basket. Online they can fill in a web form and be approved for auto insurance or have a medical claim paid directly into their bank account. Call center representatives reconfigure customer mobile devices and change service plans while they are on the phone. When they make an online payment it is processed immediately, and they have instant access to the service they have purchased.

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