Decision Management

Decision management is described as an "emerging important discipline, due to an increasing need to automate high-volume decisions across the enterprise and to impart precision, consistency, and agility in the decision-making process”. Decision management is implemented "via the utilization of rule-based systems and analytic models for enabling high-volume, automated decision making”. Organizations request to enhance the worth created through every decision by deploying software system solutions (generally developed using BRMS and prophetical analytics technology) that higher manage the trade-offs between exactness or accuracy, consistency, agility, speed or decision latency, and value of decision-making among organizations. The idea of decision yield, for instance, focuses on all five key attributes of decision-making: more targeted decisions (precision); in the same way, over and over again (consistency); while being able to adapt "on-the-fly" (business agility) while reducing value and rising speed, is an overall metric for how well a corporation is creating a specific decision”.

 

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