Enterprise Decision Management - a Weblog

Live from InterACT - Mark Greene's Keynote

(Posted by guest blogger, James Taylor) As Mark is the CEO of Fair Isaac I thought I would blog this one over on this blog rather than on the Smart (enough) Systems blog where the rest are going to be....

Call for Presentations - the new EDM Summit

How are you integrating business rules and analytics? How are you adding intelligence to your business processes? How are you putting analytics to work in your operational systems? How, in other words, are you using Enterprise Decision Management (EDM) to...

The 2008 Rexer Analytics Data Mining Survey

(Posted by guest blogger, James Taylor) Karl Rexer sent me this year's Data Mining Survey and asked me to ask my readers to please participate in it this year. Last year he got some great results which I discussed on...

Using EDM to deliver event-based marketing

(Posted by guest blogger, James Taylor) Adam Sarner at Gartner published Five Steps to Successful Event-Triggered Marketing last week. The abstract of this paper says: Successful event-triggered marketing is a process of identification, categorization, monitoring, optimizing and executing. Marketers that...

The future of BI had better include EDM

(Posted by guest blogger, James Taylor) A number of posts on what the future of BI is likely to bring caught my eye this morning and I thought I should add my thoughts on how I see BI evolving into...

Progressive Financial Services Firms Demonstrate the Value of Predictive Analytics; Decision Services Offer a Path for Others to Follow

Yesterday an article I wrote about Decision Services appeared in the online edition of DM Review’s December 2007 issue ("Decision Services: Pragmatic Real-Time Analytics"). In it, I describe how Decision Services, by providing a framework for managing both business rules and analytics, can pave the way toward adopting predictive analytics.

It’s OK to “ignore the man behind the (predictive analytics) curtain” with EDM

The title of this post includes a quote from the film, “The Wizard of Oz,” when Dorothy’s dog Toto draws back a curtain revealing the “real” wizard (a man) pulling levers and pushing buttons to illuminate a frightening hologram of a smoky and not too nice false wizard. The jig is up, and the wizard is exposed for what he is, just a man. If only the same could be said of the experts driving data mining and predictive analytic software in today’s leading companies.

Mistakes in the last mile in Decision Management

(Posted by guest blogger, James Taylor) My good friends over at Juice Analytics had an interesting post on the "last mile" of Business Intelligence that made me think about Enterprise Decision Management in that context. Using the reporting interface One...

Customer 2.0, Operational BI and $20M

A series of articles and posts caught my eye tonight. First I read Mike Murphy's article on Meeting the Needs of Customer 2.0: Intelligence All Around (DM Review). Mike discussed the issues and difficulties of serving a new customer, one...

Super Crunching with EDM

Thanks to Rolando I linked to this article Era of the Super Cruncher in which Ian Ayres discusses his new book - Super Crunchers: Why Thinking-by-Numbers Is the New Way to Be Smart . I have not read the book...

Data Miner Survey - results

Some time ago I suggested that readers might like to complete a survey for Karel Rexer of Rexer Analytics and a number of you did. The results of the survey are now available here (you need to email Karl and...

TDWI says the most exciting part of Operational BI is Enterprise Decision Management (kinda)

Wayne Eckerson published a nice report for TDWI recently called "Best Practices in Operational BI: Converging Analytical and Operational Processes", which you can download from the TDWI site here (free registration required). It's a very interesting report and the summary...

If you think you need a Chief Analytics Officer, what you really need is a Chief Decision Officer

I saw this article in DM Review today - Building the Analytic Organization - in which Peter Graham lays out a case for a Chief Analytics Officer and how that role would be part of improving the use of analytics...

Useful posts on data mining

Craig Borysowich has some useful posts on his blog this week. He does nice little series on various topics and he recently completed a data mining series. Here are the links with some comments: Obtaining Management Support for Data Mining...

Getting support for data mining (and decision management)

Craig had a good post today - Obtaining Management Support for Data Mining and BI. I liked the post because he focused first on the business objective - the decision you are trying to improve - and only then on...

Using EDM to improve marketing operations

I have been thinking about Marketing Operations (nicely described by Gary Katz here) and I saw a post on Why is marketing operations so important? on Unica's blog. It contained the great phrase: "What are the reasons for the growing...

Data Mining, Predictive Analytics and Markets of 1

Two articles made me think about the application of enterprise decision management, EDM, in the world of customer experience. First, I saw the one Jeff Kaplan wrote - "Data Mining as a Service: The Prediction is Not in the Box"....

Yahoo's senior marketer tells you to use EDM (kinda)

I was reading this interesting McKinsey report - Confronting proliferation ... in online media: An interview with Yahoo!’s senior marketer. In this report Cammie Dunaway, CMO for Yahoo, talks about how Yahoo is coping with the explosion of choices and...

What do people do with analytics?

Interesting little poll over on KD Nuggets today - readers were asked where they had applied data mining in the last 12 months. The top 5 were: CRM (26.1% of respondents) Banking (23.9%) Direct Marketing/ Fundraising (20.3%) Science (18.8%) Fraud...

Live from EBRC - My presentation

Here is my presentation: Technorati Tags: analytic application, analytics, Blaze Advisor, BRMS, business rules, data mining, decision service, EBRC, EDM, enterprise decision management, Model Builder, predictive analytics, Smart (Enough) Systems, smartenoughsystems

Live from EBRC - AML Business Rules

Blogging live again from EBRC - this session is on AML Business Rules at PostFinance (part of Swiss Post) by Oliver K. Burnand who heads up compliance for PostFinance, the FSI within Swiss Post. Provides transaction processing as a public...

Shameless commerce: Smart (Enough) Systems

As some of you know by now I have been working, with Neil Raden, on a new book. As the files shipped to the printers yesterday, I thought I would take the opportunity to shamelessly plug the book here on...

Data Mining Survey

I got an email from Karl Rexer over at Rexer Analytics over the weekend. Karl is doing a survey on the analytic behaviors, needs and preferences of data mining professionals. If you are interested in taking the survey, go to...

Is Operational BI an oxymoron?

Amit Chembukar and Prasanna Keny of Tata Consulting wrote Trends in Operational BI in BI Review. It's a nice article and they make some good points about the characteristics of the kinds of systems they discuss: Operational - delivering decisions...

A word about analytics

I was wandering around our R&D facility yesterday and saw a great sign Analytics simplify data to amplify its value Now I have no idea if this is original or a well-known analytic quote. Regardless, I think it is very...

InterACT Lisbon - Models to Rules

Next up were Carole-Ann Matignon and Andy Flint presenting on how analytic models and business rules can and should be combined. Carole-Ann and Andy are product managers for Model Builder and Blaze Advisor, Fair Isaac's products for analytic model development...

The opportunity for analytics

Final interesting article in DM Review this month - Dealing with Data: Data Analytics: A Huge Opportunity by Shari Rogalski. She does a nice job of summarizing the research and makes some good points. A couple of things I wanted...

Book Review: Competing on Analytics

I have just finished a pre-release copy of "Competing on Analytics: The New Science of Winning" by Tom Davenport and Jeanne Harris Tom and Jeanne have written a new book (building on a paper they wrote some time ago) about...

From BI to Predictive Reporting to Predictive Analytics

I attended a TDWI webinar today by Wayne Eckerson on Predictive Analytics. This presented information from a recent survey TDWI conducted of its members (here's the report's executive summary and you can get the report here). Now TDWI, and Wayne,...

Some predictions for 2007

Towards the end of last year I asked various people to make some predictions for 2007. Here, in no particular order, is what they said. Interestingly pricing and customer-centricity both came up more than once. Bruce Richardson, Chief Research Officer...

Book Review: Data Mining Techniques

I am getting caught up on book reviews over the break. Today's is Data Mining Techniques by Berry and Linoff. This is one of the classic works on data mining and well worth the read.I really liked the book both...

Marketing to (and with) algorithms with EDM

Ian, my fellow blogger here at edmblog.com, pointed me to this article You Must Market To Algorithms, Not Just People. The article nicely summarized the growing role of algorithms in marketing and, as predictive analytics and even rules can be...

Those who know first, win - NOT!

I saw an ad today, for a well known enterprise application vendor's alliance with a chip company, that had the headline: Those who know first, win and all I could think of was how wrong this was. What good does...

Nice article on statistics and data mining

Kathy Lange of SAS wrote a nice introductory article on statistics, data mining and predictive analytics for DM Review this month. Check out the Predictive Analytics FAQ if you want some additional information.

Where has all the risk gone?

A couple of the blogs I read mentioned this LA Times article today - Insurers learn to pinpoint risks -- and avoid them. In particular RiskProf and Workers Comp Insider covered the article. RiskProf felt that the article missed the...

One complaint about the Long Tail

Having reviewed "The Long Tail" and written a long piece about how decision management can help build the systems the Long Tail requires, now I have to register a complaint. In the book Chris talks about the limitations of physical...

Hits and Niches

"The era of one-size-fits-all is ending, and in its place is something new, a market of multitudes", so says Chris Anderson (who blogs at www.longtail.com) in his recent book "The Long Tail". The phrase "The Long Tail" comes from a...

Don't just collect that data, USE it

I saw an interesting article in DM Review this week - Ability to Mine Data Major Major Roadblock. This reported on a PricewaterhouseCoopers survey and essentially said that companies thought their data should give them a real competitive edge but...

USA Today, fraud and EDM

I saw this article in USA Today about data mining to detect fraud. This is a classic case of how business rules (to detect things that are breaches of the rules) and analytics (such as neural nets to detect patterns...

Live from Gartner Symposium ITxpo - Analytics: Action Based on Integrating Processes and Applications

I am attending Gartner Symposium and ITxpo this week and blogging as I go. Gareth Herschel presented on Analytics: Action Based on Integrating Processes and Applications. A disappointing crowd to one of the presentations I thought looked most interesting. Maybe...

Live from Gartner Symposium ITxpo - Real-World Experience in Applying Business Intelligence to Business Processes

I am attending Gartner Symposium and ITxpo this week and blogging as I go. I justed presented on Real-World Experience in Applying Business Intelligence to Business Processes. Here's the presentation I gave To recap: BI has value but not enough...

Deploying analytics - what do people do?

Interesting poll over on KD Nuggets on data mining deployment. I was struck by a number of points: About 40% publish a research paper and I suspect most of these do not deploy the results. This probably reflects the large...

Some thoughts on trends in predictive analytics

David Raab has a new article in DM Review on "New Trends in Predictive Analytics". David correctly identifies that many of the techniques using in predictive analytics, or data mining, are not that new (there are some like the genetic...

Is there really ANY ROI from BI?

I have been talking with folks a lot about the issue of return on investment (ROI) when it comes to Business Intelligence (ROI) and, quite timely, I saw this report from Knightsbridge about the ROI of Business Intelligence when I...

Live from Teradata (almost) - Improving Customer Experience with EDM

I presented at Teradata Partners today on the topic of using enterprise decision management to improve the customer experience. Essentially I proposed that using technology like business rules and analytics to improve the moments of decision when interacting with a...