Enterprise Decision Management - a Weblog

What kinds of problems lend themselves to EDM?

(Posted by guest blogger, James Taylor) I was talking with Neil Raden and Tom Davenport today on the subject of decisions - what are the various kinds of decisions and how do companies make them and think about making them....

Decision Management at the Heart of Future Enterprise Applications, so Says Forrester Research

Respected technology prognosticators John Rymer and Connie Moore of Forrester Research just published a new paper titled, “The Dynamic Business Application Imperative” (September 24, 2007, For CIOs). Rymer and Moore envision a new generation of enterprise application that some IT organizations today are cobbling together in order to meet ever changing business, technical and marketplace requirements.

Great article on the business benefits of EDM

There is a nice summary of the business benefits of an Enterprise Decision Management approach in DM Review today - Enterprise Decision Management's Business Impact. It gives a great little overview of the operational, tactical and strategic level. Of course...

Using EDM to deliver competitive productivity

A friend (Hi Ken) referred me to this post about search by David Berlind. Now while I think unstructured text in decision automation and Enterprise Decision Management or EDM is going to be more and more important and while I...

Top 10 Excuses for not automating decisions

Over on my other blog I posted some notes on the top 10 excuses given for not adopting business rules and other decision automation technologies: 10. We tried before and never got any results 9. I would like to invest...

What IS Enterprise Decision Management or EDM?

Enterprise Decision Management (EDM) is an approach that automates, improves and connects decisions across the enterprise. Businesses using EDM gain much greater control over the results from high-volume operational decisions. EDM aims to increase the precision, consistency and agility of...

What can EDM do for my business?

EDM can give your business decisions greater: Precision. Increase revenues and improve risk management through greater segmentation, more relevant offers and better risk management. Benefits include: Higher revenue yield per customer interaction, through better targeting and segmentation and through more...

Why is EDM important now?

The need for EDM springs from the increasing complexity of making decisions: Decisions that once took days now have to be made at the speed of the transaction, such as while a customer is completing an online transaction. Business objectives...

What kinds of problem can EDM solve?

EDM can be applied to virtually any business area that involves high-volume, operational decisions, or the use of analytics and business rules to improve decision strategies. Here are some of the areas where EDM is used today: Customer acquisition and...

Who benefits from EDM?

Companies that have large numbers of dynamic, high-impact operational decisions can increase their success through EDM. Within those companies, key stakeholders are: Business owners who want to improve the quality and consistency of customer decisions, and take more control of...

How do the basic EDM building blocks work?

Business rules, written by business users, determine what action to take for every customer and circumstance. These rules can be further refined through data mining and strategy optimization. Predictive models analyze customer data to segment populations of customers according to...

How is EDM different from other approaches like BI or Knowledge Engineering?

There are a few key elements that differentiate EDM solutions and technology from other approaches: Closed-loop capability for designing, deploying and executing decisions processing Flexibility for rule-based and/or analytic model based decision processes Business user control of the decision logic...

How do I know I am ready for EDM?

There are many ways you might tell you are ready for EDM or that you need EDM to go to the next level. Here are just some of them. You can segment your customers 30 ways-but you deal with them...