This preview shows page 1. Sign up to view the full content.
Unformatted text preview: of system activity end up delivering sub-optimal outcomes,
then these can be analysed by business spets to see if changes are needed. For instance, in a banking
environment it may be that patterns of decisions can be identified as the precursor to fraud, in which case the
decisions can be changed accordingly to take the new information into account.
The other area with potential to offer smarter business opportunities is that of personalization. Because
automated decision-making has the power to ‘instantly’ sample all sorts of different data sources as part of an
execution instance on behalf of a particular customer, it becomes possible to tune the decision-making to
deliver the best possible results for that customer and the business. This might cover what previous business
interactions have taken place recently with the person, whether there have been any major changes of
circumstance, what previous buying patterns this person has exhibited and many other factors. While it may
well have been impossible or completely impractical to take these sorts of data points into account when
decisions were being taken manually by a customer services representative, when the decisions are taking
automatically this is not only possible but relatively easy. The benefit in terms of improved customer service can
be stark. Customer focus • Faster operational decisions lead to quicker processes
• Decisions are more accurate and repeatable
• Service can be personalized more effectively Business agility • Easier to determine how decisions are currently made
• Easier to make changes to decision‐making
• Quicker to deploy new decisions Cost reduction • Automated decision‐making reduces resource requirements
• Less human involvement reduces training needs
• Changes require less resources Governance • Formalization of decision‐making ensures predictable results
• Visibility of decision rules enables increased auditability
• Decision quality is improved through collaboration
• Decision‐making can be more easily monitored and tracked Smarter operations • Continuous improvement of decision‐making based on enterprise‐wide performance
• New business opportunities through personalized decisions
• Improved profitability Figure 6: Summary of the major benefits of a rules-based approach to operational decision-makin...
View Full Document
This note was uploaded on 01/29/2014 for the course ACC 230 taught by Professor Xia during the Winter '13 term at Bloomsburg.
- Winter '13