Organizations make thousands of automated, operational decisions every week--from targeted pricing of products to determining which customers get automatic approval, from customizing website navigation and content to satisfying regulatory mandates. How well they make these decisions drives their profitability, makes or breaks their reputation and powers customer satisfaction.
How these decisions are made is one of a company's most important assets. All too often these decisions are not explicitly managed, assessed or even visible to the company's business experts. Instead they are buried in the company's software code and policy manuals, where they are hidden from view and may even be contradictory. Decision modeling gives you the power to change this, to make your organization's decisions transparent, agile and scalable.
Written by two of the field's foremost experts, this book addresses why, when and how to model decisions using the Decision Model and Notation (DMN), a new open standard for representing business decisions. This comprehensive book provides a complete explanation of the Decision Modeling technique and how it aligns with Decision Management and Digital Transformation. It describes the DMN standard focusing on the business benefits of using it. Full of examples and best practices developed on real projects, it will help new decision modelers to quickly get up to speed while also providing crucial patterns and advice for more those with more experience. The book includes a detailed method for applying decision modeling in your organization and advice on how to select tools and start a pilot project.
Features:
- Over 220 practical illustrations
- 47 best practices
- 13 common misconceptions to avoid
- 12 patterns and approaches
- 3 worked examples
JAMES TAYLOR has been focused on Decision Management for the last 14 years and he is almost certainly the best known proponent of the approach. While working at FICO he wrote a book on the topic with Neil Raden. Since then he has written Decision Management Systems: A Practical Guide to Using Business Rules and Predictive Analytics (IBM Press, 2012), and much else expanding and developing the core concepts. One of the original submitters of the Decision Model and Notation standard, he has been using decision modeling on client projects since 2011. He has developed several modeling tools, including one based on DMN - DecisionsFirst Modeler. As the founder and CEO of Decision Management Solutions, he works with clients to help them implement Decision Management and Decision Modeling as well with vendors who are adopting Decision Management as an approach that maximizes the value of their products.
JAN PURCHASE has been working in investment banking for 19 years, the last 13 of which he has focused exclusively on the use of business decisions, decision modeling (TDM and DMN), business rules, business rule management systems and business process modeling. He is a founder of Lux Magi Financial Rules, a company specializing in delivering the benefits of all of these concepts to financial organizations, as well as providing training and mentoring in their use. All his clients have benefited from the adoption of decision modeling; one international initiative included a set of fourteen separate decision modeling projects. Jan has maintained a blog 'Decision Management for Finance' since 2010 highlighting the practical lessons learned from applying decision modeling and rules at scale. He has published many white papers,hosted multiple webinars and chaired several public coaching sessions on the application of decision modeling and rules to problems in finance. He has been applying TDM and DMN to finance and regulatory compliance projects since 2011.
