SlideShare a Scribd company logo
1 of 29
@jamet123 #decisionmgt © 2017 Decision Management Solutions
James Taylor, CEO
3 Critical Elements of a
Digital Business Platform
@jamet123 #decisionmgt © 2017 Decision Management Solutions 2
James Taylor
Decision Management Solutions
▶ We work with clients to
improve their business by
applying business rules &
analytic technology to
automate & improve decisions.
▶ Vendor-neutral
▶ Original DMN submitter
▶ Using decision modeling since 2011
▶ I have spent the last 15 years
focused on the use of Decision
Management to develop
analytical systems
@jamet123 #decisionmgt © 2017 Decision Management Solutions 3
AGENDA
▶ Digital Enterprises And Digital Decisioning
▶ Decision Modeling
Clearly Define the Desired Outcome
▶ Business Rules Management
Business Empowerment and Safe Agility
▶ Predictive Analytics (and AI)
Data-driven Decision-making
▶ Put It All Together
A Virtual Decision Hub
@jamet123 #decisionmgt © 2017 Decision Management Solutions 4
Digital Enterprises And
Digital Decisioning
@jamet123 #decisionmgt © 2017 Decision Management Solutions 5
A Typical Platform For A Digital Enterprise
Digital Platform
Digital Channels
Digital Workers
Digital Monitoring
Digital Processes
@jamet123 #decisionmgt © 2017 Decision Management Solutions 6
Challenges In Digital Underwriting
Digital Platform
Digital Channels
Digital Workers
Digital Monitoring
Digital Processes
Unresponsive:
No binding quotes
Inefficient:
First-in First-out assignment
to Underwriters
Lack of Transparency:
No visibility into how
@jamet123 #decisionmgt © 2017 Decision Management Solutions 7
Challenges In Digital Claims
Digital Platform
Digital Channels
Digital Workers
Digital Monitoring
Digital Processes
Unresponsive:
Too long to pay
Inefficient:
Too few claims are auto-
adjudicated
Lack of Feedback:
No use of analytics to
improve results
@jamet123 #decisionmgt © 2017 Decision Management Solutions 8
Challenges In Digital Marketing
Digital Platform
Digital Channels
Digital Workers
Digital Monitoring
Digital Processes
Inflexible:
One size fits no-one
Inflexible:
Takes Marketing too long to
change the program
Lack of Feedback:
Analytics don’t adapt,
learn from successes
@jamet123 #decisionmgt © 2017 Decision Management Solutions 9
Addresses Challenges In Digital Enterprises:
Add Digital Decisioning
Digital Platform
Digital Channels
Digital Workers
Digital Monitoring
Digital Processes
Lack of Transparency
Inflexible
Inefficient
Lack of Feedback
Unresponsive
Transparent, compliant
Safe Agility
Business Empowerment
Data-driven
Real-Time Actions
@jamet123 #decisionmgt © 2017 Decision Management Solutions 10
Digital Decisioning:
3 Critical Elements
Decision
Modeling
Business
Rules
Predictive
Analytics
@jamet123 #decisionmgt © 2017 Decision Management Solutions 11
Decision Modeling
Clearly Define The Desired Outcome
@jamet123 #decisionmgt © 2017 Decision Management Solutions 12
Standards-based Decision Models
Show What’s Involved In Digital Decisions
Reuse across
digital channels
Knowledge
Required
Structure of
Decision-making
Data Required
@jamet123 #decisionmgt © 2017 Decision Management Solutions 13
Decision Models Link Business Outcomes to
Digital Decisions
Improve
Cross-Sell
A
Total
Number of
Orders
Most
Recent
Order
Total Orders
last 12
months
Lifetime
Order Total
Customer
Status
1 >= 5 < 90 days > $10,000 - Gold
2 >=10 < 180 days > $20,000 - Gold
3 >= 20 < 360 days > $40,000 - Gold
4 - < 180 days - > $1,000,000 Gold
5 - - - > $2,000,000 Gold
Customer Value Determination
@jamet123 #decisionmgt © 2017 Decision Management Solutions 14
Business Rules Management
Business Empowerment and Safe Agility
@jamet123 #decisionmgt © 2017 Decision Management Solutions 15
Business Rules:
Fundamental To Decisions
Business Rules are
Total Number of
Orders
Most Recent Order Total Orders last
12 months
Lifetime Order
Total
Customer
Status
>= 5 < 90 days > $10,000 Gold
>=10 < 180 days > $20,000 Gold
>= 20 < 360 days > $40,000 Gold
< 180 days > $1,000,000 Gold
> $2,000,000 Gold
“
”
Statements of the actions you should take when
certain business conditions are true.
@jamet123 #decisionmgt © 2017 Decision Management Solutions 16
Business Rules Management Systems
Answer Critical Questions
How Will We Decide
Next Time?
How Did We Decide
Last Time?
What Happens If We
Change How We
Decide?
Do We All Agree
How We Decide?
@jamet123 #decisionmgt © 2017 Decision Management Solutions 17
Decision Models And Business Rules:
Business Empowerment, Safe Agility
▶ Decision model accessibility empowers the business
▶ Decision models, business rules enable safe agility:
▶ Break down complex problems
▶ Define each piece with business rules
▶ Make it safe and easy to change them
Sources and drivers of
change are clear
Impact and ownership
are clear
Navigate to the rules that
have to change
@jamet123 #decisionmgt © 2017 Decision Management Solutions 18
Predictive Analytics (and AI)
Data-driven Decision-making
@jamet123 #decisionmgt © 2017 Decision Management Solutions 19
To Maximize Digital Decisioning
Answer More Complex Questions
▶ Will this car be a total loss?
▶ Is this transaction fraudulent?
▶ Is this customer upset or not?
▶ Is this email a complaint?
▶ Which offer will this prospect accept?
Apply Predictive Analytics and AI
Be the Hero
@jamet123 #decisionmgt © 2017 Decision Management Solutions 20
Use Predictive Analytics, AI To
Digitize And Automate More Decisions
▶ Predictive Analytics
▶ Extract insight from data
▶ Validate rules with data
▶ Find patterns, segments
▶ Turn uncertainty into
usable probability
▶ AI
▶ Learn by example
▶ Handle natural language
▶ Process images
▶ Detect tone, personality
@jamet123 #decisionmgt © 2017 Decision Management Solutions 21
Data-Driven, Real-Time Actions
Decision
Traditional New
External ✓ ✓
Internal ✓ ✓
Enrich With
Analytics
Select Consistent, Precise, Actions
In Real-Time, Across All Channels
Learn Continuously
Start with
data
Add Policies, Regulations
Best Practices and Preferences
Enterprises must stop wasting time
and money on unactionable analytics.
Mike Gualtieri VP
@jamet123 #decisionmgt © 2017 Decision Management Solutions 22
Put It All Together:
A Virtual Decision Hub
@jamet123 #decisionmgt © 2017 Decision Management Solutions 23
External Data
Big Data
Business
Rules
Continuous
Improvement
▶ Customers use multiple channels
▶ A common service suggests actions
▶ Using business rules and
analytics/AI in combination
▶ These are continuously improved
▶ And managed by a decision model
▶ That reuses common decisions
across channels, processes
▶ Automated with business rules
▶ And analytics, AI
Analytics and
AI
An Example Of Digital Decisioning
Next Best Action
@jamet123 #decisionmgt © 2017 Decision Management Solutions 24
Digital Decisioning: A Virtual Decision Hub
MARKETING
TOUCHPOINTS
SALES
TOUCHPOINTS
SERVICE
TOUCHPOINTS
CLAIMS
TOUCHPOINTS
DECISIONS
MARKETING
CAMPAIGN
SYSTEM
DECISIONS
SALES
SYSTEM
DECISIONS
UNDER-
WRITING
SYSTEM
DECISIONS
POLICY
ADMIN
SYSTEM
DECISIONS
CUSTOMER
RELATIONSHIP
MANAGEMENT
DECISIONS
CLAIMS
MANAGEMENT
SYSTEM
DECISION
HUB
(VIRTUAL)
DECISIONS
DECISIONSDECISIONS
DECISIONS
CUSTOMERS
Purchase a
Policy
Sales:
Qualification Decisions
Sales:
Up-sell/ Cross-sell Decisions
Underwriting:
Risk Assessment Decisions
Sales:
Pricing Decisions
EXAMPLEDECISION MODELS
▪ Decisions required across multiple functions (systems) need to be
‘coordinated’
▪ Conceptualized and designed through Decision Models;
Implemented through a virtual ‘Decision Hub’ for management.
@jamet123 #decisionmgt © 2017 Decision Management Solutions 25
Decision Management Solutions
@jamet123 #decisionmgt © 2017 Decision Management Solutions 26
Decision Management Solutions
▶ Fortune 500 clients in insurance, financial services,
manufacturing, telecommunications, travel, health
care, health management, and retail
▶ Hands-on Training - Over 800 trained
▶ Highly skilled bench
▶ Decision Modeling Software DecisionsFirst Modeler
▶ Original co-submitter of the Decision Model and
Notation (DMN) Standard
▶ Extensive vendor relationships, vendor neutral
@jamet123 #decisionmgt © 2017 Decision Management Solutions 27
Pilot Digital Decisioning
▶ Deliverables
▶ Cloud-based decision service for
making offers
▶ Business ownership of key decision-
making logic
▶ Impact analysis and testing
capability for business owners
▶ Decision impact and business
performance dashboard
▶ Criteria for production deployment
@jamet123 #decisionmgt © 2017 Decision Management Solutions 28
Questions?
Thank You
@jamet123 #decisionmgt © 2017 Decision Management Solutions
For more on
Decision Management, go to:
decisionmanagementsolutions.com
Decision Management Solutions
www.decisionmanagementsolutions.com
Contact Us:
info@decisionmanagementsolutions.com
james@decisionmanagementsolutions.com
+1 650 400 3029

More Related Content

What's hot

Improve your Process Models by Modeling Decisions
Improve your Process Models by Modeling DecisionsImprove your Process Models by Modeling Decisions
Improve your Process Models by Modeling Decisions
Decision Management Solutions
 
BuildingEffectiveDecisionMakingFramework_v1.05
BuildingEffectiveDecisionMakingFramework_v1.05BuildingEffectiveDecisionMakingFramework_v1.05
BuildingEffectiveDecisionMakingFramework_v1.05
Jim Parnitzke
 

What's hot (20)

Simplifying Complex Processes with Decision Management
Simplifying Complex Processes with Decision ManagementSimplifying Complex Processes with Decision Management
Simplifying Complex Processes with Decision Management
 
How to Innovate Risk Management and Customer Centricity
How to Innovate Risk Management and Customer CentricityHow to Innovate Risk Management and Customer Centricity
How to Innovate Risk Management and Customer Centricity
 
Case Study UMUC - Decision Modeling for Predictive Analytic Projects - Predic...
Case Study UMUC - Decision Modeling for Predictive Analytic Projects - Predic...Case Study UMUC - Decision Modeling for Predictive Analytic Projects - Predic...
Case Study UMUC - Decision Modeling for Predictive Analytic Projects - Predic...
 
How to succeed with advanced analytics at scale
How to succeed with advanced analytics at scaleHow to succeed with advanced analytics at scale
How to succeed with advanced analytics at scale
 
Lessons Learned from the Real-life Deployment of Decision Management at Scale
Lessons Learned from the Real-life Deployment of Decision Management at ScaleLessons Learned from the Real-life Deployment of Decision Management at Scale
Lessons Learned from the Real-life Deployment of Decision Management at Scale
 
Delivering the Business Value of Analytics
Delivering the Business Value of Analytics Delivering the Business Value of Analytics
Delivering the Business Value of Analytics
 
Bringing clarity to analytics projects with decision modeling: a leading prac...
Bringing clarity to analytics projects with decision modeling: a leading prac...Bringing clarity to analytics projects with decision modeling: a leading prac...
Bringing clarity to analytics projects with decision modeling: a leading prac...
 
Agile and Cost Effective Compliance: Going Beyond Business Rules with Decisio...
Agile and Cost Effective Compliance: Going Beyond Business Rules with Decisio...Agile and Cost Effective Compliance: Going Beyond Business Rules with Decisio...
Agile and Cost Effective Compliance: Going Beyond Business Rules with Decisio...
 
Extending Business Architecture with Regulatory Architecture using Decisions ...
Extending Business Architecture with Regulatory Architecture using Decisions ...Extending Business Architecture with Regulatory Architecture using Decisions ...
Extending Business Architecture with Regulatory Architecture using Decisions ...
 
A New Approach to Defining BI Requirements
A New Approach to Defining BI RequirementsA New Approach to Defining BI Requirements
A New Approach to Defining BI Requirements
 
Increasing Productivity in Insurance Operations with Digital Decisioning
Increasing Productivity in Insurance Operations with Digital DecisioningIncreasing Productivity in Insurance Operations with Digital Decisioning
Increasing Productivity in Insurance Operations with Digital Decisioning
 
Decision-Centric Dashboards with DMN at Two Fortune 200 Financial Companies
Decision-Centric Dashboards with DMN at Two Fortune 200 Financial CompaniesDecision-Centric Dashboards with DMN at Two Fortune 200 Financial Companies
Decision-Centric Dashboards with DMN at Two Fortune 200 Financial Companies
 
Customer Decision Management - 5 Benefits
Customer Decision Management - 5 BenefitsCustomer Decision Management - 5 Benefits
Customer Decision Management - 5 Benefits
 
Improve your Process Models by Modeling Decisions
Improve your Process Models by Modeling DecisionsImprove your Process Models by Modeling Decisions
Improve your Process Models by Modeling Decisions
 
Five Reasons to Fire Your Rules Consultant
Five Reasons to Fire Your Rules ConsultantFive Reasons to Fire Your Rules Consultant
Five Reasons to Fire Your Rules Consultant
 
Why is decision modeling the burning issue among business analysts? IIBA Bay ...
Why is decision modeling the burning issue among business analysts? IIBA Bay ...Why is decision modeling the burning issue among business analysts? IIBA Bay ...
Why is decision modeling the burning issue among business analysts? IIBA Bay ...
 
6 opportunities for business improvement with decision management
6 opportunities for business improvement with decision management6 opportunities for business improvement with decision management
6 opportunities for business improvement with decision management
 
BuildingEffectiveDecisionMakingFramework_v1.05
BuildingEffectiveDecisionMakingFramework_v1.05BuildingEffectiveDecisionMakingFramework_v1.05
BuildingEffectiveDecisionMakingFramework_v1.05
 
1120 track1 taylor
1120 track1 taylor1120 track1 taylor
1120 track1 taylor
 
The 9 secrets of successful customer feedback and action programs
The 9 secrets of successful customer feedback and action programsThe 9 secrets of successful customer feedback and action programs
The 9 secrets of successful customer feedback and action programs
 

Similar to 3 Critical Elements of a Digital Business Platform

Putting Digital Back in the Boardroom
Putting Digital Back in the Boardroom Putting Digital Back in the Boardroom
Putting Digital Back in the Boardroom
Iris
 

Similar to 3 Critical Elements of a Digital Business Platform (20)

Framing Analytic Requirements with Decision Modeling
Framing Analytic Requirements with Decision ModelingFraming Analytic Requirements with Decision Modeling
Framing Analytic Requirements with Decision Modeling
 
Customer digitaldecisioningfinal
Customer digitaldecisioningfinalCustomer digitaldecisioningfinal
Customer digitaldecisioningfinal
 
DecisionsFirst Modeler and IBM ODM Demonstration
DecisionsFirst Modeler and IBM ODM Demonstration DecisionsFirst Modeler and IBM ODM Demonstration
DecisionsFirst Modeler and IBM ODM Demonstration
 
Backward Engineering: Plan Machine Learning Deployment in Reverse
Backward Engineering: Plan Machine Learning Deployment in ReverseBackward Engineering: Plan Machine Learning Deployment in Reverse
Backward Engineering: Plan Machine Learning Deployment in Reverse
 
Introduction to Digital Decisioning
Introduction to Digital DecisioningIntroduction to Digital Decisioning
Introduction to Digital Decisioning
 
The Decision Management Manifesto Explained
The Decision Management Manifesto ExplainedThe Decision Management Manifesto Explained
The Decision Management Manifesto Explained
 
Implementing analytics? You need decision modeling and business rules
Implementing analytics? You need decision modeling and business rulesImplementing analytics? You need decision modeling and business rules
Implementing analytics? You need decision modeling and business rules
 
Simpler, smarter and more agile
Simpler, smarter and more agileSimpler, smarter and more agile
Simpler, smarter and more agile
 
The Value of Predictive Analytics and Decision Modeling
The Value of Predictive Analytics and Decision ModelingThe Value of Predictive Analytics and Decision Modeling
The Value of Predictive Analytics and Decision Modeling
 
Eliminate Workload Automation Guess Work with Machine Learning
 Eliminate Workload Automation Guess Work with Machine Learning Eliminate Workload Automation Guess Work with Machine Learning
Eliminate Workload Automation Guess Work with Machine Learning
 
Simplify BPM with Decision Management
Simplify BPM with Decision ManagementSimplify BPM with Decision Management
Simplify BPM with Decision Management
 
Putting Digital Back in the Boardroom
Putting Digital Back in the Boardroom Putting Digital Back in the Boardroom
Putting Digital Back in the Boardroom
 
What is Business Decision Management?
What is Business Decision Management?What is Business Decision Management?
What is Business Decision Management?
 
Putting Predictive Analytics To Work
Putting Predictive Analytics To WorkPutting Predictive Analytics To Work
Putting Predictive Analytics To Work
 
3 Secrets to Becoming a Predictive Enterprise
3 Secrets to Becoming a Predictive Enterprise3 Secrets to Becoming a Predictive Enterprise
3 Secrets to Becoming a Predictive Enterprise
 
Transforming Business with Smarter Analytics
Transforming Business with Smarter AnalyticsTransforming Business with Smarter Analytics
Transforming Business with Smarter Analytics
 
Create Success with Analytics: Predictive Analytics 101: Your Roadmap to Driv...
Create Success with Analytics: Predictive Analytics 101: Your Roadmap to Driv...Create Success with Analytics: Predictive Analytics 101: Your Roadmap to Driv...
Create Success with Analytics: Predictive Analytics 101: Your Roadmap to Driv...
 
Create Success with Analytics: Predictive Analytics 101: Your Roadmap to Driv...
Create Success with Analytics: Predictive Analytics 101: Your Roadmap to Driv...Create Success with Analytics: Predictive Analytics 101: Your Roadmap to Driv...
Create Success with Analytics: Predictive Analytics 101: Your Roadmap to Driv...
 
Models Collecting Dust? How to Transform Your Results from Interesting to Imp...
Models Collecting Dust? How to Transform Your Results from Interesting to Imp...Models Collecting Dust? How to Transform Your Results from Interesting to Imp...
Models Collecting Dust? How to Transform Your Results from Interesting to Imp...
 
Big data it’s impact on the finance function
Big data it’s impact on the finance functionBig data it’s impact on the finance function
Big data it’s impact on the finance function
 

Recently uploaded

AI/ML Infra Meetup | Improve Speed and GPU Utilization for Model Training & S...
AI/ML Infra Meetup | Improve Speed and GPU Utilization for Model Training & S...AI/ML Infra Meetup | Improve Speed and GPU Utilization for Model Training & S...
AI/ML Infra Meetup | Improve Speed and GPU Utilization for Model Training & S...
Alluxio, Inc.
 

Recently uploaded (20)

SQL Injection Introduction and Prevention
SQL Injection Introduction and PreventionSQL Injection Introduction and Prevention
SQL Injection Introduction and Prevention
 
AI/ML Infra Meetup | ML explainability in Michelangelo
AI/ML Infra Meetup | ML explainability in MichelangeloAI/ML Infra Meetup | ML explainability in Michelangelo
AI/ML Infra Meetup | ML explainability in Michelangelo
 
Optimizing Operations by Aligning Resources with Strategic Objectives Using O...
Optimizing Operations by Aligning Resources with Strategic Objectives Using O...Optimizing Operations by Aligning Resources with Strategic Objectives Using O...
Optimizing Operations by Aligning Resources with Strategic Objectives Using O...
 
StrimziCon 2024 - Transition to Apache Kafka on Kubernetes with Strimzi.pdf
StrimziCon 2024 - Transition to Apache Kafka on Kubernetes with Strimzi.pdfStrimziCon 2024 - Transition to Apache Kafka on Kubernetes with Strimzi.pdf
StrimziCon 2024 - Transition to Apache Kafka on Kubernetes with Strimzi.pdf
 
OpenChain Webinar: AboutCode and Beyond - End-to-End SCA
OpenChain Webinar: AboutCode and Beyond - End-to-End SCAOpenChain Webinar: AboutCode and Beyond - End-to-End SCA
OpenChain Webinar: AboutCode and Beyond - End-to-End SCA
 
The Impact of PLM Software on Fashion Production
The Impact of PLM Software on Fashion ProductionThe Impact of PLM Software on Fashion Production
The Impact of PLM Software on Fashion Production
 
INGKA DIGITAL: Linked Metadata by Design
INGKA DIGITAL: Linked Metadata by DesignINGKA DIGITAL: Linked Metadata by Design
INGKA DIGITAL: Linked Metadata by Design
 
AI/ML Infra Meetup | Perspective on Deep Learning Framework
AI/ML Infra Meetup | Perspective on Deep Learning FrameworkAI/ML Infra Meetup | Perspective on Deep Learning Framework
AI/ML Infra Meetup | Perspective on Deep Learning Framework
 
A Python-based approach to data loading in TM1 - Using Airflow as an ETL for TM1
A Python-based approach to data loading in TM1 - Using Airflow as an ETL for TM1A Python-based approach to data loading in TM1 - Using Airflow as an ETL for TM1
A Python-based approach to data loading in TM1 - Using Airflow as an ETL for TM1
 
Secure Software Ecosystem Teqnation 2024
Secure Software Ecosystem Teqnation 2024Secure Software Ecosystem Teqnation 2024
Secure Software Ecosystem Teqnation 2024
 
Malaysia E-Invoice digital signature docpptx
Malaysia E-Invoice digital signature docpptxMalaysia E-Invoice digital signature docpptx
Malaysia E-Invoice digital signature docpptx
 
10 Essential Software Testing Tools You Need to Know About.pdf
10 Essential Software Testing Tools You Need to Know About.pdf10 Essential Software Testing Tools You Need to Know About.pdf
10 Essential Software Testing Tools You Need to Know About.pdf
 
The Evolution of Web App Testing_ An Ultimate Guide to Future Trends.pdf
The Evolution of Web App Testing_ An Ultimate Guide to Future Trends.pdfThe Evolution of Web App Testing_ An Ultimate Guide to Future Trends.pdf
The Evolution of Web App Testing_ An Ultimate Guide to Future Trends.pdf
 
Odoo vs Shopify: Why Odoo is Best for Ecommerce Website Builder in 2024
Odoo vs Shopify: Why Odoo is Best for Ecommerce Website Builder in 2024Odoo vs Shopify: Why Odoo is Best for Ecommerce Website Builder in 2024
Odoo vs Shopify: Why Odoo is Best for Ecommerce Website Builder in 2024
 
Microsoft365_Dev_Security_2024_05_16.pdf
Microsoft365_Dev_Security_2024_05_16.pdfMicrosoft365_Dev_Security_2024_05_16.pdf
Microsoft365_Dev_Security_2024_05_16.pdf
 
COMPUTER AND ITS COMPONENTS PPT.by naitik sharma Class 9th A mittal internati...
COMPUTER AND ITS COMPONENTS PPT.by naitik sharma Class 9th A mittal internati...COMPUTER AND ITS COMPONENTS PPT.by naitik sharma Class 9th A mittal internati...
COMPUTER AND ITS COMPONENTS PPT.by naitik sharma Class 9th A mittal internati...
 
A Guideline to Zendesk to Re:amaze Data Migration
A Guideline to Zendesk to Re:amaze Data MigrationA Guideline to Zendesk to Re:amaze Data Migration
A Guideline to Zendesk to Re:amaze Data Migration
 
Microsoft 365 Copilot; An AI tool changing the world of work _PDF.pdf
Microsoft 365 Copilot; An AI tool changing the world of work _PDF.pdfMicrosoft 365 Copilot; An AI tool changing the world of work _PDF.pdf
Microsoft 365 Copilot; An AI tool changing the world of work _PDF.pdf
 
AI/ML Infra Meetup | Improve Speed and GPU Utilization for Model Training & S...
AI/ML Infra Meetup | Improve Speed and GPU Utilization for Model Training & S...AI/ML Infra Meetup | Improve Speed and GPU Utilization for Model Training & S...
AI/ML Infra Meetup | Improve Speed and GPU Utilization for Model Training & S...
 
Implementing KPIs and Right Metrics for Agile Delivery Teams.pdf
Implementing KPIs and Right Metrics for Agile Delivery Teams.pdfImplementing KPIs and Right Metrics for Agile Delivery Teams.pdf
Implementing KPIs and Right Metrics for Agile Delivery Teams.pdf
 

3 Critical Elements of a Digital Business Platform

  • 1. @jamet123 #decisionmgt © 2017 Decision Management Solutions James Taylor, CEO 3 Critical Elements of a Digital Business Platform
  • 2. @jamet123 #decisionmgt © 2017 Decision Management Solutions 2 James Taylor Decision Management Solutions ▶ We work with clients to improve their business by applying business rules & analytic technology to automate & improve decisions. ▶ Vendor-neutral ▶ Original DMN submitter ▶ Using decision modeling since 2011 ▶ I have spent the last 15 years focused on the use of Decision Management to develop analytical systems
  • 3. @jamet123 #decisionmgt © 2017 Decision Management Solutions 3 AGENDA ▶ Digital Enterprises And Digital Decisioning ▶ Decision Modeling Clearly Define the Desired Outcome ▶ Business Rules Management Business Empowerment and Safe Agility ▶ Predictive Analytics (and AI) Data-driven Decision-making ▶ Put It All Together A Virtual Decision Hub
  • 4. @jamet123 #decisionmgt © 2017 Decision Management Solutions 4 Digital Enterprises And Digital Decisioning
  • 5. @jamet123 #decisionmgt © 2017 Decision Management Solutions 5 A Typical Platform For A Digital Enterprise Digital Platform Digital Channels Digital Workers Digital Monitoring Digital Processes
  • 6. @jamet123 #decisionmgt © 2017 Decision Management Solutions 6 Challenges In Digital Underwriting Digital Platform Digital Channels Digital Workers Digital Monitoring Digital Processes Unresponsive: No binding quotes Inefficient: First-in First-out assignment to Underwriters Lack of Transparency: No visibility into how
  • 7. @jamet123 #decisionmgt © 2017 Decision Management Solutions 7 Challenges In Digital Claims Digital Platform Digital Channels Digital Workers Digital Monitoring Digital Processes Unresponsive: Too long to pay Inefficient: Too few claims are auto- adjudicated Lack of Feedback: No use of analytics to improve results
  • 8. @jamet123 #decisionmgt © 2017 Decision Management Solutions 8 Challenges In Digital Marketing Digital Platform Digital Channels Digital Workers Digital Monitoring Digital Processes Inflexible: One size fits no-one Inflexible: Takes Marketing too long to change the program Lack of Feedback: Analytics don’t adapt, learn from successes
  • 9. @jamet123 #decisionmgt © 2017 Decision Management Solutions 9 Addresses Challenges In Digital Enterprises: Add Digital Decisioning Digital Platform Digital Channels Digital Workers Digital Monitoring Digital Processes Lack of Transparency Inflexible Inefficient Lack of Feedback Unresponsive Transparent, compliant Safe Agility Business Empowerment Data-driven Real-Time Actions
  • 10. @jamet123 #decisionmgt © 2017 Decision Management Solutions 10 Digital Decisioning: 3 Critical Elements Decision Modeling Business Rules Predictive Analytics
  • 11. @jamet123 #decisionmgt © 2017 Decision Management Solutions 11 Decision Modeling Clearly Define The Desired Outcome
  • 12. @jamet123 #decisionmgt © 2017 Decision Management Solutions 12 Standards-based Decision Models Show What’s Involved In Digital Decisions Reuse across digital channels Knowledge Required Structure of Decision-making Data Required
  • 13. @jamet123 #decisionmgt © 2017 Decision Management Solutions 13 Decision Models Link Business Outcomes to Digital Decisions Improve Cross-Sell A Total Number of Orders Most Recent Order Total Orders last 12 months Lifetime Order Total Customer Status 1 >= 5 < 90 days > $10,000 - Gold 2 >=10 < 180 days > $20,000 - Gold 3 >= 20 < 360 days > $40,000 - Gold 4 - < 180 days - > $1,000,000 Gold 5 - - - > $2,000,000 Gold Customer Value Determination
  • 14. @jamet123 #decisionmgt © 2017 Decision Management Solutions 14 Business Rules Management Business Empowerment and Safe Agility
  • 15. @jamet123 #decisionmgt © 2017 Decision Management Solutions 15 Business Rules: Fundamental To Decisions Business Rules are Total Number of Orders Most Recent Order Total Orders last 12 months Lifetime Order Total Customer Status >= 5 < 90 days > $10,000 Gold >=10 < 180 days > $20,000 Gold >= 20 < 360 days > $40,000 Gold < 180 days > $1,000,000 Gold > $2,000,000 Gold “ ” Statements of the actions you should take when certain business conditions are true.
  • 16. @jamet123 #decisionmgt © 2017 Decision Management Solutions 16 Business Rules Management Systems Answer Critical Questions How Will We Decide Next Time? How Did We Decide Last Time? What Happens If We Change How We Decide? Do We All Agree How We Decide?
  • 17. @jamet123 #decisionmgt © 2017 Decision Management Solutions 17 Decision Models And Business Rules: Business Empowerment, Safe Agility ▶ Decision model accessibility empowers the business ▶ Decision models, business rules enable safe agility: ▶ Break down complex problems ▶ Define each piece with business rules ▶ Make it safe and easy to change them Sources and drivers of change are clear Impact and ownership are clear Navigate to the rules that have to change
  • 18. @jamet123 #decisionmgt © 2017 Decision Management Solutions 18 Predictive Analytics (and AI) Data-driven Decision-making
  • 19. @jamet123 #decisionmgt © 2017 Decision Management Solutions 19 To Maximize Digital Decisioning Answer More Complex Questions ▶ Will this car be a total loss? ▶ Is this transaction fraudulent? ▶ Is this customer upset or not? ▶ Is this email a complaint? ▶ Which offer will this prospect accept? Apply Predictive Analytics and AI Be the Hero
  • 20. @jamet123 #decisionmgt © 2017 Decision Management Solutions 20 Use Predictive Analytics, AI To Digitize And Automate More Decisions ▶ Predictive Analytics ▶ Extract insight from data ▶ Validate rules with data ▶ Find patterns, segments ▶ Turn uncertainty into usable probability ▶ AI ▶ Learn by example ▶ Handle natural language ▶ Process images ▶ Detect tone, personality
  • 21. @jamet123 #decisionmgt © 2017 Decision Management Solutions 21 Data-Driven, Real-Time Actions Decision Traditional New External ✓ ✓ Internal ✓ ✓ Enrich With Analytics Select Consistent, Precise, Actions In Real-Time, Across All Channels Learn Continuously Start with data Add Policies, Regulations Best Practices and Preferences Enterprises must stop wasting time and money on unactionable analytics. Mike Gualtieri VP
  • 22. @jamet123 #decisionmgt © 2017 Decision Management Solutions 22 Put It All Together: A Virtual Decision Hub
  • 23. @jamet123 #decisionmgt © 2017 Decision Management Solutions 23 External Data Big Data Business Rules Continuous Improvement ▶ Customers use multiple channels ▶ A common service suggests actions ▶ Using business rules and analytics/AI in combination ▶ These are continuously improved ▶ And managed by a decision model ▶ That reuses common decisions across channels, processes ▶ Automated with business rules ▶ And analytics, AI Analytics and AI An Example Of Digital Decisioning Next Best Action
  • 24. @jamet123 #decisionmgt © 2017 Decision Management Solutions 24 Digital Decisioning: A Virtual Decision Hub MARKETING TOUCHPOINTS SALES TOUCHPOINTS SERVICE TOUCHPOINTS CLAIMS TOUCHPOINTS DECISIONS MARKETING CAMPAIGN SYSTEM DECISIONS SALES SYSTEM DECISIONS UNDER- WRITING SYSTEM DECISIONS POLICY ADMIN SYSTEM DECISIONS CUSTOMER RELATIONSHIP MANAGEMENT DECISIONS CLAIMS MANAGEMENT SYSTEM DECISION HUB (VIRTUAL) DECISIONS DECISIONSDECISIONS DECISIONS CUSTOMERS Purchase a Policy Sales: Qualification Decisions Sales: Up-sell/ Cross-sell Decisions Underwriting: Risk Assessment Decisions Sales: Pricing Decisions EXAMPLEDECISION MODELS ▪ Decisions required across multiple functions (systems) need to be ‘coordinated’ ▪ Conceptualized and designed through Decision Models; Implemented through a virtual ‘Decision Hub’ for management.
  • 25. @jamet123 #decisionmgt © 2017 Decision Management Solutions 25 Decision Management Solutions
  • 26. @jamet123 #decisionmgt © 2017 Decision Management Solutions 26 Decision Management Solutions ▶ Fortune 500 clients in insurance, financial services, manufacturing, telecommunications, travel, health care, health management, and retail ▶ Hands-on Training - Over 800 trained ▶ Highly skilled bench ▶ Decision Modeling Software DecisionsFirst Modeler ▶ Original co-submitter of the Decision Model and Notation (DMN) Standard ▶ Extensive vendor relationships, vendor neutral
  • 27. @jamet123 #decisionmgt © 2017 Decision Management Solutions 27 Pilot Digital Decisioning ▶ Deliverables ▶ Cloud-based decision service for making offers ▶ Business ownership of key decision- making logic ▶ Impact analysis and testing capability for business owners ▶ Decision impact and business performance dashboard ▶ Criteria for production deployment
  • 28. @jamet123 #decisionmgt © 2017 Decision Management Solutions 28 Questions?
  • 29. Thank You @jamet123 #decisionmgt © 2017 Decision Management Solutions For more on Decision Management, go to: decisionmanagementsolutions.com Decision Management Solutions www.decisionmanagementsolutions.com Contact Us: info@decisionmanagementsolutions.com james@decisionmanagementsolutions.com +1 650 400 3029