Before fulfilling that request for a new report . . .
Delve deeper. What’s the purpose of the report? What decisions does it support? What process does the decision maker follow to arrive at a decision? Is all the information needed to make a good decision available? Is there value in making the decision faster, more consistent, more compliant, more scalable, more secure, and less risky? Does the organization learn from the decision? Does the organization have the ability to easily test new decision policies to improve the outcomes of the decisions?
The primary reason for a report is to provide the information necessary to make good decisions. But what if you had a way to eliminate the need for the report by automating that decision? And what if in the process, you could close the gap between an event, the insight to decide and execution? Is decision management a manual process for you today? Do decision makers run reports, search those reports for conditions in which to act, then act upon them? Or do you have the ability to monitor information in flight listening for events upon which to act? At Mariner, we call this process Detect => Decide => Act.
If you are using reports, then you are evaluating data that has had to stop and wait for you to find it. You are “reacting” to events that have happened since the last time you ran the report. And you are doing it in “batch mode” no less. The information is recorded in your information systems where it is held at rest waiting for someone to discover it and act upon it.
But it doesn’t have to be that way, Decision Management Systems have evolved, matured and have been used by many companies to be a lethal source of competitive advantage.
What is a Decision Management System?
Not long ago, those of us from the technology world would have called a decision management system a “business rules engine,” but decision management system’s scope has expanded far beyond a technology component that eased the coding of business rules. Decision Management Systems now provide its services directly to business users and subject matter experts. Decision Management systems support process improvement, experimentation, capturing organizational knowledge, adaptation to dynamic conditions, predictive analytics and more.
One of the leading experts in Decision Management is James Taylor, CEO of Decision Management Solutions. In his book “Decision Management Systems: A Practical Guide to Using Business Rules and Predictive Analytics” he had this to say about Decision Management Systems:
Decision Management Systems are a new class of system. Offering dramatic improvements in performance, Decision Management Systems are agile, analytic, and adaptive. Decision Management Systems are easier, cheaper, and quicker to change in the face of changing needs. Decision Management Systems put the data you have to work, making decisions based on the analysis of data as well as judgment and policy. Decision Management Systems adapt to constantly changing circumstances, continually trying new approaches to see what will work best as situations change. These systems represent a significant departure from previous generations of information systems.
Learn More about Decision Management
Before you dedicate valuable resources to the creation of another report, time spent looking at a decision management system would be time well spent. For more, read:
Decision management is an integral part of Mariner’s Digital Business Enablement Platform along with Intelligent Systems Service and Machine Learning. Learn more about our Digital Business services by visiting our website or downloading our free white paper.