Category Archives: Decision Making

The Decision-Making Side of Machine Learning

Michael I. Jordan is a professor at Berkeley and one of the most influential people in machine learning, statistics, and artificial intelligence. Watch his recent presentation: “Much of the recent focus in machine learning has been on the pattern-recognition side … Continue reading

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Real-Time Decision-Making

How does your Decisioning Platform support real-time decision-making? Coolfire: “In order to make real-time decision-making a core organizational capability, it’s time for organizations of all kinds to invest in a platform designed to make their data actionable. That means utilizing a … Continue reading

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Decision analytics: What is AI?

Prof. Warren B Powell from Princeton University: “The most common types of AI come in three flavors: rules, machine learning, and making decisions (“optimization”). Rules are used for guiding computers to identify patterns or make recommendations, and have to be … Continue reading

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BizOps–Aligning Business and IT in Automated Decision-making

In his post with this title,Tom Davenport talks about “BizOps”—a new effort to address and improve the relationship between IT and business. Like other “Ops”—DevOps, AIOps, RevOps, etc.— it’s an aspirational attempt to combine two processes and cultures—business and technology. … Continue reading

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Are you a bad decision-maker?

Cassie Kozyrkov, the Head of Decision Intelligence at Google, just published the article with this title. She writes: The objective of this article is to teach you the most fundamental principle in decision analysis: “The quality of a decision should … Continue reading

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Speeding up decision-making under COVID-19 pressure

This is the title of today’s article by John Poppelaars: “Due to the lack of trustworthy information, hospitals need to make decisions on bed capacity, staffing, medicine and personal protective gear stock levels under high uncertainty. They need to make … Continue reading

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Decision Optimization during Covid-19

During this critical period, technology experts are trying to help as all other professionals. Alain Chabrier from IBM provides examples of how Decision Optimization can be used for optimal nurse scheduling in over-constrained hospital situations, transferring of patients between different … Continue reading

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AI-Driven Decision Making

This HBR’s article “What AI-Driven Decision Making Looks Like” discusses the evolution of decision-making. Here are the stages: A decision-making model based on human judgement Data-supported decision making A decision-making that utilizes AI A decision-making that combines the power of … Continue reading

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Opinion: Traditional Rule Engines Outlived their Usefulness

This LinkedIn article “How Traditional Rules Engines Stifle Innovation” states: “AI and advanced analytics are key to life insurance innovation. While the industry tries to make use of these technologies, the insurance application continues to play a central role in … Continue reading

Posted in Decision Making, Insurance Industry, Rule Engines and BRMS | 1 Comment

Challenge Aug-2019: Stateful Decisioning

Nowadays it’s not enough for decision making applications to simply execute a complex rules-based transaction, forget about it, and wait for the next one. They should be able to learn from already executed transactions and evaluate new facts as they … Continue reading

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