5 Core Principles of Decision Management

5 core principles of Decision ManagementJames Taylor, CEO

AGENDA 1 2 Little decisions add up The purpose of information is to decide 3 You cannot afford to lock up your logic 4 5 6 No answer, no Decision Making So what? matter how is a process to good, is static be managed

The One Slide You Need Little decisions add up so focus on operational or front-line decision making The purpose of information is to decide so put your data and analytics to work You cannot afford to lock up your logic so externalize it as business rules No answer, no matter how good, is static so experiment, challenge, simulate, learn Decision Making is a process to be managed ©2009 Decision Management Solutions 3

Little decisions add up

Different types of decisions High High-value, low-volume decisions ECONOMIC IMPACT Medium-value, medium-volume decisions Low-value, high- volume decisions Low Low DECISION VOLUME High After Smart (Enough) Systems, Prentice Hall 2007 ©2009 Decision Management Solutions 6

ALL decisions matter “Most discussions of decision making assume that only senior executives make decisions or that only senior executives’ decisions matter. This is a dangerous mistake.” Peter Drucker ©2009 Decision Management Solutions 7

The purpose ofinformation is to decide

You cannot affordto lock up yourlogic

No answer, nomatter how good, is static

Decision Making is aprocess to be managed

Close the loops Information Evaluate Results Reaction Decision Update Refine Rules, Decision Models Action Business & Analytic Experts Simulate Create Impact Challengers Customer ©2009 Decision Management Solutions 23

So what?

Decision Management isA business discipline that builds onexisting enterprise applications to put data to work manage uncertainty increase transparency give the business control ©2009 Decision Management Solutions 26

Delivering Decision Management3 stages to better operational decisions Create a “closed loop” between operations and Design and build analytics to independent measure results decision and drive processes to improvement Identify the replace decision decisions (usually points embedded about customers) in operational that are most systems important to your operational success ©2009 Decision Management Solutions 27

The One Slide You Need Little decisions add up so focus on operational or front-line decision making The purpose of information is to decide so put your data and analytics to work You cannot afford to lock up your logic so externalize it as business rules No answer, no matter how good, is static so experiment, challenge, simulate, learn Decision Making is a process to be managed ©2009 Decision Management Solutions 29

Decision Management Solutions Decision Management Solutions can help you Focus on the right decisions Implement a blueprint Define a strategy For assistance, to find out more or if you have questions decisionmanagementsolutions.com/learnmore ©2009 Decision Management Solutions 30

Thank you! James Taylor, CEO james@decisionmanagementsolutions.comwww.decisionmangementsolutions.com/learnmo re

5 Core Principles of Decision Management

by Decision Management Solutions on Mar 30, 2011

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5 Core Principles of Decision Management — Presentation Transcript