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McKinsey Agrees with James

Posted by Guest Blogger and Proud Parent of a New Second Grader (as of this morning), Ian Turvill McKinsey has just published a great article which argues that companies who address different market segments with different value propositions, service experiences,...

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New article on business rules and process commoditization

I have another article on BPM Institute today - Business Rules and resisting the commoditization of process. Enjoy.

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The 21st century insurer: Beyond price - Successful responses to shrinking opportunities

Posted by Guest Blogger and Decisions Podcast Host, Ian Turvill. Fair Isaac has just published an article by me about the challenges faced by insurers when individual consumers face difficult economic conditions, such as higher interest rates and gasoline prices....

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Helping computers make "better" decisions

An interesting poll recently over on KDnuggetsas to whether computers can make better decisions by mining historical data than people can with intuition. The results seem to me to be split - some think yes, some think yes unless (as...

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Using EDM to stay a step ahead of fraud

Nice article on Staying a Step Ahead of Fraud in Intelligent Enterprise today. Michael writes a nice summary of some of the approaches and technology used in the battle against fraud. Those of you paying attention will notice that "Falcon's...

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Slugs with credit cards

Banana Slugs, that is. My stepson and his girlfriend are both leaving for college in the fall and both applied to the same major bank for student credit cards. Both got offered the initial $600 credit line - clearly this...

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Improving Performance Management, Strategic Alignment and Operational Execution

I was reading this Financial Insights piece today - U.S. Bank Survey: Performance Management (subscription required) - and it struck me that there is a key role for Enterprise Decision Management to play in organizations as they try and do...

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EDM - Enterprise DECISION Management

In case any of you saw this Aite group report, EDM does not stand for Enterprise Data Management but Enterprise Decision Management. I don't know what they think they are doing, trying to hijack the acronym like this! Managing Risk...

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Pandora's box

Music box that is. For those of you who have not seen it, Pandorais a music finding service developed by the Music Genome Project. This is a fascinating site and uses some fairly spiffy analytics to find music like the...

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Don't let your customers take their business elsewhere...

I saw this article on destinationCRM - I'm Taking My Business Elsewhere - and a couple of the comments made in it really resonated with me: Forty-seven percent of the 1,000 U.S. consumers Accenture surveyed have stopped doing business with...

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Insurance Companies can outsource processes and differentiate them too

Mark Cecere over at Forrester just published this piece Process-Oriented Insurance Will Drive BPO(subscription required) and he makes some great points about the potential for BPO in insurance. Regular readers of the blog will know that I believe strongly that...

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The secret of capitalizing on customer insights

This great McKinsey piece finally made it to the top of my reading stack last night - Capitalizing on customer insights (subscription required). As I read through the paper's description of the challenges of using information effectively in the context...

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New Blog URL

Well more change. We have moved the blog to www.edmblog.com and so would greatly appreciate y'all changing your links. The feed should have auto-corrected and the old links should work so let me know if either of these things is...

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Operationalizing Decision Yield - selecting between investments

A number of previous examples introduced Decision Yield, discussed how to develop questions to measure it and then how to operationalize it in a performance auditor by measuring performance over time.Decision Yield can also be used when you have a...

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US P&C Underwriting Profitability to Dip? Sounds like a job for EDM!

Posted by Guest Blogger, Ian Turvill. (And uncharacteristically, short.) US property and casualty insurers can expect another year of overall industry underwriting profit in 2006, matching the results of 2004, according to a recent report from Conning Research and Consulting....

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The secret of business user rule maintenance

I saw this post on rule templates over on The Road Hits The Rubber and it made me think about business users and the promise that business rules makes of allowing business users to maintain business rules. But here's the...

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Gartner Report: Insurers Should Deploy Rules Engines for Underwriting

Posted by Guest Blogger, Ian Turvill. James and I, along with our colleagues in Fair Isaac's insurance consulting practice, are often asked about the application of a range of tools, such as rating engines, product configurators, and (our favorite) rules...

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What would YOU call the unit of Decision Yield?

Ian Turvill and I were thinking about Decision Yield and wondering what the (unofficial) "unit" of Decision Yield should be. If you have ideas please send them to me or post them as comments and Ian and I will post...

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Operationalizing Decision Yield - measuring performance over time

A number of previous examples introduced Decision Yield, discussed how to develop questions to measure it and then how to operationalize it in a performance audit. If your concern with a decision is to ensure that you maintain or improve...

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Building a Hospital for the 21st Century

The McKinsey Quarterly had a nice piece this week - US hospitals for the 21st century - which identified some key problems for . These include medical safety issues, high costs and increasing economic pressure. Drivers include Consumer-Driven Health Plans...

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Operationalizing Decision Yield - Creating and Applying the Decision Performance Audit

Posted by Guest Blogger, Ian Turvill. Yesterday, I described how you could - in theory - develop a set of questions to measure Decision Yield for any decision-making process. Today, I'm going to describe the practical application of those questions...

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Here's a quick way to get more automatic loan decisions

Chris Pratt at Financial Insights pointed me at a nice little piece she wrote on Auto Lending - Advice for Lenders Intent on Marketing Automobile Loans Direct-to-Consumers: Don't Tug on Superman's Cape(fee or subscription required). I was struck by a...

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Here's a Method Insurers Are Using to Find Millions of Dollars in Avoidable Claims

Posted by Guest Blogger, Ian Turvill. I just wrote an article on the use of Enterprise Decision Management to eliminate losses due to "claims leakage" in insurance. (See "EDM plugs the claims leakage dam".) It appeared in recent online and...

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Smart Meters and decisioning

I saw this article on SmartMeters - Selling power by the hour after reading about them on the Center for Information Technology Research in the Interest of Society. What struck me about the potential for growing use of SmartMeters is...

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Operationalizing Decision Yield - Defining the questions

Several of our posts (like this overview) have talked about using "Decision Yield" to measure the efficiency and effectiveness of decision-making. But how do you about adding some "meat" to this concept? Well to use it you first need to...

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Speaking gigs in September and October

Well I am going to be speaking a few times in September and October. Teradata Partners Conference on September 18th 2006 at 1:30pm on "An Enterprise Decision Management strategy for improved customer experience" Panel at the Washington DC Brainstorm Business...

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A case study - rules in manufacturing

I was reading about a client of ours, Air Products, last week and I thought they made an interesting case study. I also reviewed a presentation they made at the Americas SAP User Group. Air Products is a $8bn global...

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Operational risk management and decision latency

B-eye network hosted a webinar this week that was interesting: Risky Decisions Translate to Risky Business - The Negative Impact of Latency in Your Data Value Chain. In it Claudia Imhoff gave a nice overview of operational risk and the...

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Book Review: The Joy of SOX

How can you resist a book with a title like "The Joy of SOX"? To give you some idea of the content it is sub-titled "Why Sarbanes-Oxley and Service-Oriented Architecture may be the best thing that ever happened to you"...

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Rules Engine article on the Reg Developer

Interesting first piece on business rules over at the Reg Developer. There's some good introductory facts in it - you can check out my FAQ for some more. If like one of the commenters you are not convinced,check out this...

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Analytics: The Predictive Power Behind Enterprise Decision Management

Companies that can make better decisions than the competition and get them into production faster are more likely to win in the marketplace. Superior decisioning is thus a competitive weapon and Enterprise Decision Management (EDM) is designed to enable superior...

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