Enterprise Decision Management

Enterprise Decision Management [EDM] is a methodology that automates, improves and connects decisions to improve business performance.

Businesses employing EDM are better equipped to make high-risk, operational decisions more quickly and intelligently.

Whilst marketing is a key area of using EDM, it can be used to advantage in many other areas of the business.

EDM is an operational function that increases the value of customer interactions, by applying insights and strategies directly to those interactions.

How EDM Works

EDM is a three step process:

1. EDM captures operational data, and identifies key customer facing business decisions.
2. It then isolates the logic behind those business decisions from the operational process data and application procedural code.
3. Encapsulating the logic in a decision object, transforms the raw data into a manageable piece of enterprise asset, makes it reusable by multiple applications, and in many different operational environments.

EDM also makes advanced decision making available as a service to legacy applications. By doing so, it eliminates the time, cost and technical risk of trying to having to reprogram each individual legacy system to keep up with changing business requirements.

This enables developers to quickly and inexpensively deliver new decisioning applications by combining business rules, data-driven strategies, thresholds, calculations and other elements.

EDM makes real time predictive analytics possible, thereby employing it as an integral part of a real-time decision process.

As a result, businesses can achieve strategic confidence based upon:

• clear forecasts of customer behavior
• deep insights into customer needs
• the ability to compare many related factors and criteria in a single measurement

and to apply these operational strategies to provide the greatest return.

NEXT: Business Performance Tool Benchmarks

Back To Top

Business Performance Index | Decision Management | Performance Tool Benchmarks | BPM Tools | Using A Balanced Scorecard | Strategy Maps