Browse Definitions :
Definition

decision management

Decision management is a process or set of processes for improving and streamlining action items. 

The goal of decision management is to improve the decision making process by using all available information to increase the precision, consistency and agility of  decisions and making good choices taking known risks and time constraints into consideration. Decision management makes use of tools such as business rules, business intelligence (BI), continuous improvement (kaizen), artificial intelligence (AI) and predictive analytics

Decision management systems treat decisions as reusable assets and introduce technology at decision points to automate the decision-making process.  Decisions may be fully automated or they may be presented as possible choices for a human to select.  Increasingly, organizations who deal with financial services, banking and insurance are integrating decision-making software into their business process systems as well as their customer-facing applications. This approach is especially useful for high-volume decision-making because automating such decisions can enable more efficient, information-based and consistent responses to events.

See also: decision support system

 

Continue reading about decision management: 

How to become a ‘decision-centric’ organization

Closing the ‘insight-to-action’ gap with analytics and decision management 

What does IBM Watson mean for Decision Management and Analytics?

This was last updated in January 2012

SearchCompliance

  • information governance

    Information governance is a holistic approach to managing corporate information by implementing processes, roles, controls and ...

  • enterprise document management (EDM)

    Enterprise document management (EDM) is a strategy for overseeing an organization's paper and electronic documents so they can be...

  • risk assessment

    Risk assessment is the identification of hazards that could negatively impact an organization's ability to conduct business.

SearchSecurity

  • cyber espionage

    Cyber espionage, also called cyber spying, is a form of cyber attack that is carried out against a competitive company or ...

  • virus (computer virus)

    A computer virus is malicious code that replicates by copying itself to another program, computer boot sector or document and ...

  • honeypot (computing)

    A honeypot is a network-attached system set up as a decoy to lure cyber attackers and detect, deflect and study hacking attempts ...

SearchHealthIT

SearchDisasterRecovery

  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • call tree

    A call tree is a layered hierarchical communication model that is used to notify specific individuals of an event and coordinate ...

  • Disaster Recovery as a Service (DRaaS)

    Disaster recovery as a service (DRaaS) is the replication and hosting of physical or virtual servers by a third party to provide ...

SearchStorage

  • dropout

    Dropout refers to data, or noise, that's intentionally dropped from a neural network to improve processing and time to results.

  • cloud storage

    Cloud storage is a service model in which data is transmitted and stored on remote storage systems, where it is maintained, ...

  • cloud testing

    Cloud testing is the process of using the cloud computing resources of a third-party service provider to test software ...

Close