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6 opportunities for business improvement with decision management

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What opportunities are you looking for to improve your business performance? In this webinar you will learn six opportunities that are readily available when you adopt a decision management approach ...

What opportunities are you looking for to improve your business performance? In this webinar you will learn six opportunities that are readily available when you adopt a decision management approach to business rules and predictive analytics.

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6 opportunities for business improvement with decision management 6 opportunities for business improvement with decision management Presentation Transcript

  • 6 Opportunities for Business Improvement with Decision Management JamesTaylor CEO
  • ©2014 Decision Management Solutions 1 Your Presenter – James Taylor CEO of Decision Management Solutions Helping clients improve their business by applying analytic technology to automate & improve decisions Spent the last 11 years championing Decision Management and developing Decision Management Systems
  • 1. Simplify business processes 2. Increase StraightThrough Processing 3. Improve speed & accuracy of decision making 4. Eliminate “one size fits all” 5. Radically re-assess staffing 6. Maximize the value of assets 2©2014 Decision Management Solutions 6 OpportunitiesWith Decision Management View slide
  • 1 Simplify Business Processes View slide
  • ©2014 Decision Management Solutions 4 A Business Process Without Decisions
  • ©2014 Decision Management Solutions 5 The Same Example With A Decision How risky is the policyholder? How risky is the claim? What’s the right action?
  • Before and After Decisions Decisions an afterthought Decisions buried in process Process becomes complex Decisions only evolve with process Hard to share decisions Decisions first class object Decisions linked not buried New process is simplified Independent process & decision changes Decisions are reusable Without Decisions With Decisions 6©2014 Decision Management Solutions
  • Decisions Are High Change Components Keep making compliant decisions Track eligibility requirements Competitive discount Change risk assessment Keep the right deal terms 7©2014 Decision Management Solutions
  • 2 Increase Straight Through Processing
  • Manual Not Made Managed Manual Managed Not Made Before After Larger boxes represent more decisions, by volume Smarter Processes make more Decisions 9©2014 Decision Management Solutions
  • Human Decision Human Decision Automated Decisions StraightThrough Processing Manage Rules Handle Exceptions Process A Process B Process C A B C Don’t stop for decisions 10©2014 Decision Management Solutions
  • More Decisions, more STP 11©2014 Decision Management Solutions
  • 3 Improve Decision Making
  • A business process cannot progress any further unless they are made A particular event has occurred and must be handled A person must choose between a number of options ©2014 Decision Management Solutions Decisions Are Made Because 13
  • ©2014 Decision Management Solutions 14 Decisions Are Everywhere Event Responses Legacy Systems Business Processes Business Intelligence Experience
  • Decisions Are A Common Language Business Decision 15©2014 Decision Management Solutions
  • ©2014 Decision Management Solutions 16 Decision Models Build Understanding Uncover Gaps Automation Opportunities Data Requirements Shared Understanding Rule Sources Analytics
  • ©2014 Decision Management Solutions 17
  • 4 Eliminate One Size Fits All
  • ©2014 Decision Management Solutions 19 How Most Systems Treat Customers
  • ©2014 Decision Management Solutions 20 Recreate The Corner Store
  • ©2014 Decision Management Solutions 21 Make Decisions About Each Customer
  • ©2014 Decision Management Solutions 22 Why Go Beyond BI with Predictive Analytics? PredictiveAnalytics Knowledge - Description Action - Prescription Business Intelligence What has been happening in my business? * * * * ** * * ** * * ** * * * * * * * * * * * * * * * * * * * * ** * * * * * * * ** * * * ** * ** ** How is this particular customer going to behave in the future?
  • ©2014 Decision Management Solutions 23 Predictive Analytics Can… Identify cross-sell opportunities Predict cancellation Predict likely interests Predict lifetime value Predict what a customer might want to do next
  • ©2014 Decision Management Solutions 24 Drive Decisions With Analytics Decision
  • 5 Re-Assess Staffing Needs
  • Complexity Value Automated Decisions Expert Decisions Manual Decisions Change The Automation Balance 26©2014 Decision Management Solutions
  • 27©2014 Decision Management Solutions Manuals and reports replaced by recommendations and decisions Staffing ratios broken Always on, powerful self-service Avoiding the “press 0” problem
  • 6 Maximize the Value of Assets
  • Mechanical Assignment First In First Out My Queue Highest Amount Randomly Selected SniffTest 29©2014 Decision Management Solutions
  • ©2014 Decision Management Solutions 30 Review The Highest Risk Transactions Not just the highest value or ones that “look” wrong
  • ©2014 Decision Management Solutions 31 Chase The Most Likely Fraud Not just the next claim in the queue
  • ©2014 Decision Management Solutions 32 Focus Collectors on Likely Recovery Not just the highest outstanding balance
  • How to Get Started Now
  • Succeed with Decision Management! 34©2014 Decision Management Solutions
  • ©2014 Decision Management Solutions Decision Management Steps Identify decisions Describe decisions Model decision requirements Complete and implement 35
  • Existing Techniques Don’t Do Decisions Use Cases • Key steps are decisions • Decisions not modeled Process Models • Decisions made by tasks • Peanut Butter Rules Requirements Lists • Decisions are required • How is not modeled 36©2014 Decision Management Solutions
  • What is needed Multi-user, Collaborative Integrated Database Shared Database, Reusable components Automated Consistency and Completeness Checks Living Repository Use The Right Modeling Tools 37©2014 Decision Management Solutions What you have Single User Text and Diagrams kept separate Manual Reuse Hand Checking One-Shot Documents Standards-based
  • ©2014 Decision Management Solutions 38 How We Can Help Consulting Decision Modeling Decision Management Training and Workshops Online On-site DecisionsFirst Modeler Collaborative decision modeling software Standards Based,Vendor Neutral FreeTrial &Tutorial Business Rules Predictive Analytics BPMInstitute.org UC Irvine Extension
  • Questions?
  • 1. Simplify business processes 2. Increase StraightThrough Processing 3. Improve speed & accuracy of decision making 4. Eliminate “one size fits all” 5. Radically re-assess staffing 6. Maximize the value of assets 40©2014 Decision Management Solutions 6 OpportunitiesWith Decision Management Decision Management
  • Thank You JamesTaylor, CEO james@decisionmanagementsolutions.com DecisionsFirst Modeler decisionmanagementsolutions.com/decisionsfirst-modeler