A recent McKinsey paper titled Jump-starting resilient and reimagined operations had some great advice for operational executives working on re-starting and reimagining their operations for a COVID-19 world. In particular, it identified 5 themes that will share...
Posts Tagged: Decision Modeling
FREE Online Decision Requirements Modeling Training
If you're stuck sheltering in place or bored working from home, we have a great opportunity for you. You can learn a vital new skill – Decision Requirements Modeling - from the comfort of your home FOR FREE! This has been completed. Please contact us if you are...
Getting The Claims Outcomes You Want With ML/AI and Digital Decisioning
Neal Silbert of DataRobot had an interesting post on the DataRobot blog last week - Outcome-Based Claims Assignment: The “New Grail” of Insurance. He talks about using ML and AI to improve the assignment of claims adjusters to commercial claims. As he says "why make...
Driving Business Value from Advanced Analytics, Machine Learning and AI: New Webinar on Digital Decisioning
The International Institute for Analytics (I'm a faculty member) recently hosted me for a webinar on Digital Decisioning: Driving Business Value from Advanced Analytics, Machine Learning and AI. In the webinar I discussed the opportunities and challenges of Machine...
Fraud, AI and Digital Decisioning
Automating decisions about transactions lets them be handled in real-time, providing better customer service. If that decision fails to detect fraudulent transactions, this lets fraud into the system. Once a fraudulent transaction has been allowed, you are committed...
Three Steps to Boost Your Deployment Score
As we approach the end of the year, our friends over at the International Institute for Analytics (IIA) are re-tweeting some of their best content. One post in particular caught our eye - What’s Your Deployment Score? This is a great piece by Tom Davenport (who wrote...
Delivering boring AI with Decision Management
A great article appeared in Information Age recently based on an interview with Tom Davenport If you want to see the benefits of AI, forget moonshots and think boring. In it, Tom argues that “if enterprises ever want to see the benefits of AI, they must embrace the...
Decision Modeling for Analytics Translators/Interpreters/Storytellers
Many articles and surveys recently have identified the critical role that analytics translators, analytic interpreters or analytic storytellers play. These mediators help analytics teams, machine learning developers, AI engineers and other data scientists bring their...
Innovating the Insurance Customer Experience
By: Zoe Zhou There is a common high-level customer journey for insurance customers. The customer researches providers and policy options. Once a preferred provider and policy are decided, the customer applies for the policy. If they are approved the policy...
Using Technology to Reduce Operating Costs in Insurance
In February, we published a blog post on “Using Technology to Add Value in Insurance”. That post, referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question?, in which he states that there are only three levers of...
International Institute for Analytics 2019 Predictions – Some Thoughts
Several of this year’s International Institute for Analytics predictions point towards a DecisionsFirst decision management approach.
80% of insurance carriers aren’t delivering high impact analytics. Here’s how you can do better.
80% of data and analytics leaders with global life insurance and property & casualty carriers surveyed by McKinsey reported that their analytics investments are not delivering high impact. What’s stopping them from delivering high impact? 38% of those surveyed...
Decision Modeling and DMN for IBM Customers – New Brief
We have a new Leading Practices brief available - Decision Modeling and DMN for IBM Customers. IBM has long been a leading player in business rules management systems and Decision Management Solutions has many customers using IBM Operational Decision Manager in North...
DecisionsFirst Analytics in Forbes
Joe Decosmo, CAO of Enova Decisions and someone we know from our work at the International Institute for Analytics wrote a nice piece in Forbes today - Why You Should Take A Decision-First Approach To Analytics. Joe makes some great points in his post and leads off...
Decision Modeling and IBM Operational Decision Manager
IBM yesterday announced that Operational Decision Manager v8.10 (ODM - IBM's Business Rules Management System) will be available in December and will support decision modeling. This is great news as it will bring the Decision Composer functionality IBM has been...