Decision management is an emerging discipline that needs a common base architecture, a shared methodology, and a set of technologies. While decisions can benefit from decision management frameworks (DMF), decision management platforms (DMPs) offer additional benefits, such as the inclusion of business information and DMF technical dimensions.
A decision management platform acts as an enterprise guide for prevalent decision journeys, while enhancing decision outcomes under a variety of circumstances. The DMP supports common decision cycles and decision journeys by leveraging a combination of decision component data (metadata), pointers, and technological capabilities in optimal ways for each decision journey. The resulting decision configuration will be recorded in the catalog for future use and evaluation based on feedback from implemented actions and the business outcomes recorded.
In addition, the DMP naturally revolves around the decision management cycle, which consists of four phases: observe, orient, decide, and act.
This research note defines and outlines the decision management platform (DMP) to help organizations make better decisions.
This on-demand webinar overviews what decision management is, the critical components of a decision management framework, and how organizations can leverage this technology to approach critical business decisions.