In this article I hope you learn the future of predictive analytics in decision management and how tighter integration between rules and learning are being developed that will adaptively improve diagnostic capabilities, especially in maximizing profitability and detecting adversarial conduct, such as fraud, money laundering and terrorism.
Business Intelligence
Visualizing business performance is obviously important, but improving business performance is even more important. A good view of operations, such as this nice dashboard[1], helps management see the forest (and, with good drill-down, some interesting trees).
With good visualization, management can gain insights into how to improve business processes, but if the view does include a focus on outcomes, improvement in operational decision making will be relatively slow in coming.
Whether or not you use business intelligence software to produce your reports or present dashboards, however, you can improve your operational decision management by applying statistics and other predictive analytic techniques to discover hidden correlations between what you know before a decision and what you learn afterwards to improve your decision making over time. Continue reading “Adaptive Decision Management”