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Friday, July 15, 2016

Predictive Models Improving Automated Decisions

Useful points,   Though there is is the question on 'how predictive' and how precise such models can be.

How Predictive Models Improve Automated Decisions
Written by: Colleen McClintock   ... 

Agility is a key focus and benefit in the discipline of decision management. Agility, in the decision management context, means being able to rapidly adjust and respond to business and market-driven changes. Decision management technologies allow you to separate the business logic from your systems and applications. Business analysts then manage and make changes to the business logic a separate environment. And they can deploy their changes with minimal IT involvement and without a full software development cycle. With decision management, changes can be implemented in a fraction of the time required to change traditional applications. This ability to address frequently changing and new requirements that impact key automated decisions makes your business more agile.

Being able to rapidly make and deploy changes is important. But how do you know what changes to make? Some changes, like those defined by regulations and contracts, are straightforward. If you implement the regulations or contract provisions accurately, the automated decision will produce the required results and therefore, make good decisions. However, many decisions don’t have such a direct and obvious solution. .... " 

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