A number of organizations have adopted the idea of making use of the Decision Management approach and technologies to problems such as risk, fraud, eligibility, maximizing and more. If you read this blog, you probably already know what Decision Management brings to the table.
Decision Management is all about automating repeatable decisions in a maintainable way so that they can be optimized in a continuous fashion.
Decision systems can use Business Rules Management Systems (BRMS), but they do not need to restrict themselves to just that: they can also be built on Predictive Analytics technology; or they can even consist of a combination of both. The increasing availability of data that can be used to test, optimize decisions, or extract insights from, makes it possible for decision-centric applications to combine expertise and data to levels not seen in previous generations of applications.
In this post, we’ll outline the evolution from pure Business Rules Systems to Prescriptive Analytics platforms for decision-centric applications.Details