Five V’s of Decision Management

A new article by Koen Smit discusses 5 characteristics of operational decision management:

  1. Volume corresponds to the number of times a decision is made within a certain time period
  2. Velocity represents how fast a decision must be taken
  3. Variety corresponds to the variety in execution paths of a decision
  4. Veracity denotes the accuracy with which a decision should be taken
  5. Value indicates the value that the decision represents for the organization.
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Business Rules & Decisions Forum at BBC-2017 in Orlando on Nov 6-10

The Business Rules & Decisions Forum delivers the insights, technologies and techniques business analysts need to know to be  in control of their operational business rules and decisions. The event will take place in Orlando on Nov. 6-10, 2017. Vendors exhibitions will be open on Nov 8-9. The following collage shows BR&D related presentations: Continue reading

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Typical Example from Machine Learning Practice

oops2I was asked to help sell machine learning to a bank. They asked us to have a look at predicting failures of their payment system.  They had previous attempts with various technologies and various consulting companies, but they all failed.  Training data would be transactions processed in the past.  
My dialog with the client team went like this:  Continue reading

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Built for Change: Interview with Alan Trefler

Pegasystems has experienced tremendous success in recent years. The stock is up more than 100 percent in the past year, and it is tempting to think of the company as a start-up, perhaps run by a 20-something entrepreneur in the Bay Area. Continue reading

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The Google Brain Team’s Approach to Research

GoogleResearchOn Sep 13 Jeff Dean, one of the most famous Google researchers, shared this post: “About a year ago, the Google Brain team first shared our mission ‘Make machines intelligent. Improve people’s lives.’ In that time, we’ve shared updates on our work to infuse machine learning across Google products that hundreds of millions of users access everyday, including TranslateMaps, and more. Today, I’d like to share more about how we approach this mission both through advancement in the fundamental theory and understanding of machine learning, and through research in the service of product.

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MWD Advisors Report “Decision Management Drives Disruption”

Derek Miers from MWD Advisors just published a new report devoted to DMN. He writes: “With decision modelling, you now have way of visualising the future – using models to express strategies, goals, processes, policies, rules and constraints – and then driving those visualisations all the way to execution. As we will see, this is already happening. However, there are significant challenges ahead… What’s fundamentally different about the DMN standard is that the standardisation and accessibility of the notation is enabling a new wave of innovation; a wave that has managed to overcome many of the limitations of previous attempts to move toward model-driven applications.

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DMN TCK Shows Momentum

DMNTCKBruce Silver posted his comments about DMN Technology Compatibility Kit (TCK), which provides an ever-enlarging suite of DMN models, including test input values and expected outputs.  In July the TCK website had 4 DMN tools listed, and now it has 6 including: Actico, Camunda, OpenRules, Oracle, Red Hat, Trisotech. Read more about the latest DMN TCK activities at this Keith Swenson’s post.

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