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What is Decision Management?

Modern-day business operations are centered around processes and data. However, when knowledge and expertise are forced into hard-coded, inflexible systems, bottlenecks occur. By adopting and scaling the capabilities of business rules, decision modeling, and machine learning, Digital Decisioning leverages data and expertise to create business value, improve results, and deliver a great user experience to effectively meet today’s operational requirements. For Digital Decisioning to deliver true value, it must initially focus on solving business problems that will, ultimately, contribute to positive and desirable business outcomes. Technology, automation, and methodologies are essential for Digital Decisioning, but they are always at the service of business decisions. 

The foundation for successful Digital Decisioning projects is applying a Decision Management approach. Decision Management models business decisions first. These decisions, for the most part, have to do with customers and how you engage with them, deliver services to them, or handle their transactions.Once you have a good grasp of what decisions your business needs to make and how these decisions will advance your business, Decision Management shows which technology and analytics tools you need to invest in and how to integrate them. Finally, Decision Management focuses on the processes and infrastructure needed to ensure continuous improvement and business engagement. To maximize success, adopt a proven approach such as the DecisionsFirst™ approach from Decision Management Solutions.

Key Take-aways Building a DMN Decision Modeling Capability at a Major Financial Services Organization

This Decision Management Solutions case study outlines how a major global financial institution broadly adopted decision modeling and the Decision Model and Notation (DMN) standard as their best practice to define decision-making and business rules requirements.  Moving forward they are also using decision modeling as a key tool for describing analytic projects to ensure that the analytics developed will be deployed to improve decision-making.

Decision Management Solutions provided a decision modeling methodology based on DMN and trained hundreds of people across dozens of projects and geographies. The integration of decision modeling into the organization’s technical and business architecture is well underway and decision requirement models are being developed for a wide variety of projects and business areas.

Key take-aways from the decision modeling rollout include:

  • Decision Requirements Models Work for Many Projects
  • Model Audits Reveal Coverage, Gaps and Duplicates
  • Model Processes and Decisions in Parallel

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Harness Data-driven Decision Making