Every day, businesses around the world are faced with decisions both large and small. For every organization, data plays a huge role in decision making but with overwhelming amounts of data to process, how can a company be sure which decision will lead to the most impact and ROI? This is where we come in.
DMS Drives Decision Management for Global Organizations
We are a leading solution provider and professional services firm focused exclusively on using decision management to deliver digital decisioning, helping Global 500 organizations solve their most pressing business challenges. Our clients are leading companies in insurance, banking, manufacturing, telecommunications, travel and leisure, health management, and retail.
Right now, the limiting factor for machine learning and AI impact is the last mile. We have solved this problem with our DecisionsFirst™ approach. This approach helps customers identify and focus on decisions with maximum impact and deliver rapid incremental ROI. We achieve this ROI by delivering operational decision automation and management systems that include solid foundations for continuous improvement and effective adoption of advanced decisioning. Operational Automation is achieved by applying advanced analytics, artificial intelligence (AI), business rules, grid compute, and supporting technologies.
Why Large, Established Companies Rely on DMS
We work with large, established companies with legacy IT and complex business processes that nevertheless want to use machine learning and AI to drive digital transformation. Many of these organizations are financial services or insurance companies, trying to drive data-driven decision-making forward in a complex, regulated environment. With our focus on digital decisioning, we can help any company that has a high volume transaction where it is not obvious how to act on that transaction.
One of our insurance clients worked with us to increase the value of sales made by their agents using an existing mobile app to work with new clients. We used our DecisionsFirst approach to leverage financial data captured from the client to propose a “next best offer” intelligent up-sell or cross-sell that was seamlessly integrated into the sales conversation. This used business rules to ensure compliance and advanced analytics to effectively target the offers made. Results included over $6M in uplift in less than a year with >98% agent adoption and acceptance rates that started between 14 and 24% and then rose steadily. We also developed a similar solution for claims handling to automate claims payment. An initial Straight-Through Processing (STP) rate of less than 10% has risen steadily to 50% since using our DecisionsFirst continuous improvement approach. This team is using machine learning for other things such as undisclosed medical condition detection.
When DMS Met DataRobot
Machine learning and AI are critical technologies in digital decisioning solutions and we constantly watch the market for new and exciting opportunities. When an insurance customer of ours wanted to adopt an automated machine learning solution, we suggested DataRobot. This customer had a small team, was looking to improve its productivity, and wanted to solve some urgent business problems quickly. DataRobot seemed like a great fit for them.
DataRobot is also a great fit for our DecisionsFirst approach as it allows customers to rapidly produce the machine learning and AI models they need to improve their decision-making. Our approach delivers the implementation framework – the last mile – machine learning and AI model – rather than the time to integrate and operationalize it. DataRobot’s ability to deliver AI and machine learning models as an API at speed makes it a great solution for our customers. They provide a perfect tool for our customers to rapidly generate the additional models needed.
We are integrating our approach and our decision modeling software more tightly with DataRobot. We are proposing it to more of our customers as they look for more advanced machine learning solutions. We are also talking with existing DataRobot customers who want to automate more decisions, giving them a framework for wrapping their DataRobot models into business decision services.
Making it Through the Last Mile
Our clients all have complex legacy and business environments. They want to use machine learning and AI but worry that they will have to radically change their business to do so. We believe that our DecisionsFirst approach and DataRobot will allow them to get the benefits of machine learning and AI while still managing their regulatory and business complexity. Right now the limiting factor for machine learning and AI adoption is the last mile. We have solved that problem and we expect this will make the value of automated machine learning that much greater.
About the Author:
James Taylor is the CEO of Decision Management Solutions. He is the leading expert in how to apply Decision Management and use decision modeling, business rules, and machine learning technology to implement digital decisioning. James provides strategic consulting to companies of all sizes, working with clients in all sectors to adopt decision making technology. He has spent the last 20 years developing approaches, tools, and platforms that others can use to build more effective information systems. James is the author of several books including “Digital Decisioning: Using Decision Management to Deliver Business Impact from Artificial Intelligence “ (MK Press, forthcoming) and “Real-World Decision Modeling with DMN” (MK Press, 2016) with Jan Purchase.