operational_decision_management_lustratus

Decisions might involve using office documents and

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Unformatted text preview: rent forms. Decisions might involve using office documents and spread-sheets, talking to other people, running particular IT applications and following specific documented processes. The result is that decisionmaking can be a lengthy process that can come up with wildly different results depending on which sources of information are used and that is very difficult to validate and inspect. On top of this, with the increasing complexity and uncertainty reflected in the survey above combined with the interconnectedness of modern business, a common complaint from senior executives is that the quality of decision-making is poor. Often decisions are made on the wrong or inadequate information, and are not made in time to respond to customer or market needs. Visibility of the decision-making process is also poor, making it difficult to manage compliance and ensure that the company is operating in line with internal and external policies and regulations. Worse still, changing the decision-making to deliver different outcomes is a real challenge because there is no clear picture of how it is currently working, and therefore no way to determine what needs to change. What is needed is a way to automate decision-making as far as possible to reduce costs and drive better customer service, while at the same time formalizing and recording the rules controlling the decision-making so that they can be inspected, validated and changed more easily to improve governance and deliver business agility. This is where business rules and events technology steps in. Using these technologies, companies can automate decision-making, controlling it through a set of business context rules that can be authored, viewed and edited by the business community. Changes made to these rules alter decision-making in live operations directly, without any involvement from IT, and the set of rules forms a clear and verifiable record of how business operations and decisions are being carried out. Rules-based decision management Having set the scene, the rules-based approach to operational decision management referred to above can be discussed in a little mo...
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