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Decision Management & Cloud as a Platform for Predictive Analytics
 

Decision Management & Cloud as a Platform for Predictive Analytics

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Decision management's systematic embedding of predictive analytics into automated decision-making systems complements cloud technologies and maximizes the value of predictive analytics.

Decision management's systematic embedding of predictive analytics into automated decision-making systems complements cloud technologies and maximizes the value of predictive analytics.

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    Decision Management & Cloud as a Platform for Predictive Analytics Decision Management & Cloud as a Platform for Predictive Analytics Presentation Transcript

    • James Taylor, CEO Decision Management and Cloud as a Platform for Predictive Analytics
    • Your Presenter – James Taylor CEO of Decision Management Solutions We work with clients to improve their business by applying analytic technology to automate & improve decisions I have spent the last 11years championing Decision Management and developing Decision Management Systems ©2014 Decision Management Solutions 2
    • Decision Management A business discipline and a technology stack Builds on existing IT infrastructure Enhances business processes Leverages analytics to manage uncertainty Increases transparency and business control Effectively implements Business Rules Predictive Analytics ©2014 Decision Management Solutions 3
    • 3 steps to decision management Identify and model the decisions that are most important to your operational processes Design and build independent decision services using business rules to manage these decisions Create a “closed loop” between operations and analytics to measure results and drive improvement ©2014 Decision Management Solutions 4
    • AGENDA 1 2 Finding High Value Opportunities for Predictive Analytics Defining Analytic Requirements Selecting the Right Cloud Strategy Selecting the Best Fit Technology Architecture 3 Focusing the Data Effort 4 5 6 Take-aways and Next Steps
    • 1. Find High Value Predictive Analytic Opportunities
    • This is not where Predictive Analytics have power
    • Customer Churn Claims Fraud Pricing Risk This is…
    • Strategic Decisions Tactical Decisions Operational Decisions
    • Finding Opportunities Business Processes Brainstorm Business Intelligence Micro and hidden Decisions KPIs ©2014 Decision Management Solutions 10
    • 2. Use Decisions to Clearly Define Predictive Analytic Requirements
    • Turn Insight Into Action Operational Systems Decision Analytic Insight ©2014 Decision Management Solutions 12
    • Decisions Need More Than Insight Decision ©2014 Decision Management Solutions 13
    • Modeling Decisions Brings Transparency Decision ©2014 Decision Management Solutions 14
    • Three Elements in Decision Models Decisions require Information 2. Decisions require Knowledge 3. Decisions require other Decisions 1. ©2014 Decision Management Solutions 15
    • Decision Models Build Understanding Decision Insight Knowledge Information ©2014 Decision Management Solutions 16
    • Put Decisions First Link Action To Analytics Link Action To Analytics ©2014 Decision Management Solutions 17
    • 3. Use Decisions To Focus Data Efforts
    • We often wait for a 360o view before acting ©2014 Decision Management Solutions 19
    • But too much data simply drowns decision-makers
    • From Decision To Data Data Analytic Insight Decision …not the other way around ©2014 Decision Management Solutions 21
    • Big Data AND Little Data Matters Structured Data is critical Big Data adds value Use decisions to find the (big) data that matters to you ©2014 Decision Management Solutions 22
    • 4. Select The Right Cloud Strategy
    • Benefits of Predictive Analytics & Cloud Scalability Pervasiveness Deployment Agility Move analytics to the data ©2014 Decision Management Solutions 24
    • New to Predictive Analytics 1. Pre-packaged cloud-based decision solutions Easy to adopt Fast time to value 2. Focus on customers Customer satisfaction decisions Customer acquisition decisions 3. Remember Customer satisfaction takes real-time scoring, data Work with trusted vendors to handle privacy, security ©2014 Decision Management Solutions 25
    • Expanding Predictive Analytics 1. Adopt the cloud For pervasive deployment of predictive analytics To deliver predictive analytics at scale 2. Focus on operational systems Near real-time operational data is key Operational integration delivers maximum value 3. Apply Big Data to these problems Unstructured data at once Sensor, Audio, Image too ©2014 Decision Management Solutions 26
    • 5. Select The Right Technology
    • Today these pieces are semi-detached 1. Operational systems are built in a variety of ways Application Context Business Process Management Event Processing 3. Reports and queries are intended to improve decision making Enterprise Application Business Intelligence Data Infrastructure 2. Data is extracted for analysis Performance Management 4. Dashboards are used to monitor performance ©2014 Decision Management Solutions 28
    • Powerful technologies are underutilized 1. Business rules are forced into business processes Business Rules Business Process Management Predictive Analytics Application Context Event Processing 2. Predictive analytics are forced into reports or left stand-alone Enterprise Application Business Intelligence Data Infrastructure Performance Management 3. Optimization has limited, localized effect Optimization 4. The effectiveness of decision-making is not tracked or improved Decision Analysis ©2014 Decision Management Solutions 29
    • A Decision Management Context Decision Management links these technologies to the application context Application Context Business Intelligence Business Process Management Data Infrastructure Predictive Analytics Enterprise Application Event Processing Performance Management Decision Service Business Rules Predictive Analytics Optimization Decision Analysis Enterprise Platform Decision Management ties heterogeneous technologies into a coherent approach for better results Decision Management allows decision performance to be tracked, analyzed and ultimately improved Decision Management ties how decisions are being made and what can be done to improve them directly to business performance ©2014 Decision Management Solutions 30
    • Predictive Analytics AND Business Rules External Data Big Data © Decision Management Solutions, 2013
    • Next Steps
    • Advice For Getting Started Decisions First • Identify operational decisions where analytics makes a difference • Model these decisions to improve business understanding Analytics AND Rules • Adopt business rules technology as well as analytic technology • Integrate them to maximize value Big AND Little Data • Let decisions drive the data • Decisions can need big data or little data or both ©2014 Decision Management Solutions 33
    • Model Decisions For Analytic Success Download our Decision Modeling for Analytic Projects White Paper decisionmanagementsolutions.com/decision-modeling-for-predictive-analytic-projects Register for a Free DecisionsFirst Modeler Evaluation decisionmanagementsolutions.com/decisionsfirst-modeler Online Training Decision Management and Decision Modeling Live, online training in 6 1.5 hr sessions February 4,5,6 and 18,19,20. 1:00pm – 2:30pm ET decisionmanagementsolutions.com/online-training ©2014 Decision Management Solutions 34
    • Thank You James Taylor, CEO james@decisionmanagementsolutions.com 35