STOP building and deploying predictive and machine learning #ml models in isolation.

🛑STOP building and deploying predictive and machine learning #ml models in isolation.

Predictive and Machine Learning models are generally built with carefully selected training data and will be deployed as part of #CreditScore #RiskManagement #CustomerSegmentation #Chrun #Personalization #CX use cases in industries such as #banking #financialservices #government #insurance in various processes and customer journeys. These models provide scores, probability, prediction, classification and more in various situations based on the inputs.

Many confusing this with making decisions.

🚩Leaders in Data and Analytics #CDO #CDAO as well as business leaders #CXO #CMO investing heavily in analytics, machine learning, data science, AI and other related technologies with the hope these technologies can drive decision making and deliver better business outcome.

…however…

There is a gap between their investment in D&A and the reality of what a decision is.

To fill this gap…

Organizations must start practicing #DecisionIntelligence by modeling business decisions explicitly.

The best technique is to use to leverage the decision-centric approach:
1️⃣ Create the decision model by decomposing a decision (e.g., credit score, fraud, churn, etc.) into smaller and more understandable decision units
2️⃣ Integrate the predictive and machine learning models in one (or more) of the decision units
3️⃣ Create your #businessrules for the other decision units to specify custom ratings, policies, and procedures
4️⃣ Use regulatory and compliance #businessrules and specify the guardrails on the relevant decision units

✨Now, you have a holistic model for business decisions that integrates the predictive model #pmml #ai #LLMs #machinelearning and #businessrules. This model now prescribes actions based on all required decisions involved, rather than on an individual score and probability value.

💣The benefit of this approach using #decisionintelligence is to allow you to:
* Consistently prescribe across decision-making scenarios how the scores and probabilities influence the outcome
* Overcome the challenges of operationalizing your D&A efforts in decision-making scenarios
* Integrate regulatory, compliance, and policy rules in the decisions model along with #machinelearning models

🚀Practicing the decision-centric approach ensure explainable, consistent and transparent business decisions that will fill the GAP between D&A investments and business outcomes.

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Published February 5th, 2025 at 07:30 am