Tag Archives: Government

Collections & Recovery How Smart Government Agencies Collect More Debt (Video)

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Declining revenues, customers who won’t pay, overworked collectors — government agencies face the same challenges as anyone else collecting debt.  One agency that found a good solution is Shelby County, Tennessee. As Debra Gates, chief administrative officer for Shelby County Trustee, explains in this video, the department decided to close a revenue shortfall not by raising taxes but by going after accounts receivable. “The reason that we chose FICO was, first of all, their experience with government,” Gates says. The flexibility and open architecture of FICO Debt Manager were also important points.” And the results? “During the first 120 days of our collection activity for 2013, we collected an additional $6 million, which was about 80 basis points above what we’d collected in prior years,” Gates says. “The employees have really bought into FICO Debt Manager. It has made our staff more efficient and more effective at what they do,... [Read More]

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Analytics & Optimization The Role of Predictive Analytics in the Sub-Prime Crisis


-- Posted by Carole-Ann Being part of Fair Isaac, I have never really doubted the critical role predictive analytics could play in business.  I see real-life examples day in and day out but when I read the New-York Times article http://www.nytimes.com/2008/10/05/business/05fannie.html?partner=permalink&exprod=permalink, I found one that was painfully telling… Let me point your attention to a few points that CHARLES DUHIGG makes in this investigation.  I will not comment though on the politics involved. Fannie Mae has been playing a crucial role for the lending industry as we all know.  Their early success relied on their ability to predict which borrowers would be able to repay, assessing the premium required to compensate for the risk they took.  With an effective model, you can pinpoint good risk versus bad risk and therefore make safe decisions that ensure the business will prosper.  This is pretty much the essence of predictive analytics: once you know the probability to repay for people with a given set of...


Analytics & Optimization BEA on Event Driven Architecture Sounds a lot like EDM


(Posted by guest Blogger, Gib Bassett) Yesterday BEA Systems released a white paper summarizing their findings of a customer study regarding Business Process Management (BPM).  The paper is titled “The State of the BPM Market – Business and IT: Solving Process Problems Together.”  BEA also culled through numerous analyst and other industry expert insights to narrow in on the key trends driving adoption of BPM related technologies.  There were two especially notable items in the report that show an Enterprise Decision Management (EDM) approach to operational decision automation, connection and improvement is becoming an increasingly mainstream concept – even if the term EDM isn’t the label. First, the report connects BPM to the growing trend toward Event Driven Architecture (EDA), a term applied by IDC in 2007 to describe an IT infrastructure blending: “Event Middleware and Complex Event Processing,” “Event-Enabled BPM Suite,” “Event-Enabled Process Modeling,” and “Business Analyst Skill Set.”  The business driver for...

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Analytics & Optimization EDM Helps Minimize Trade Offs Between Application Maintenance and Strategic Initiatives – So Says Forrester Research


(Posted by guest Blogger, Gib Bassett) While Enterprise Decision Management (EDM) is not called out specifically in Forrester Research’s January 28 report, “The State Of Enterprise Software Adoption: 2007 To 2008,” it describes issues top of mind among technology executives addressable with EDM technologies, such as Business Rules Management Systems (BRMSs).  The report is based on results of a survey of 1,017 IT decision-makers in North American- and European-based enterprises. One of the principal values of BRMS is that they streamline application maintenance by simplifying the process of changing application logic while also enabling others outside the IT organization to become involved in that process (i.e. the business domain experts most often familiar with that logic).  The net benefit to the IT organization is greater productivity while also being more responsive to organizational changes that typically cascades to applications.  For this very reason, IT decision makers should evaluate a BRMS as part of their technology initiatives,...

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Analytics & Optimization Gartner’s 2008 Predictions Include Bright Future for Enterprise Decision Management


(Posted by guest Blogger, Gib Bassett) Gartner recently issued two “Predicts: 2008” reports highlighting their expectations for Enterprise Architecture and the Business Process Management Suites (BPMS) Market.  Both recognize noteworthy and highly complementary trends reflecting the value of Enterprise Decision Management (EDM), particularly Business Rules Management Systems (BRMSs) supporting EDM principles. In the most recent report, issued December 11, 2007, and titled “Business Process Management Alters Business and IT Collaboration,” Gartner predicts that “BPMS Subsumes the Business Rule Market,” primarily due to the fact a baseline rules engine is a required component within a BPMS:“Strategic Planning Assumption: By 2012, the BPMS technology market will subsume greater than 80% of the pure-play business rule technology sector (for example, stand-alone business rule engines).”Readers should not mistake this statement as implying the market for Business Rules Management Systems will be subsumed, which is not likely simply because a BRMS...


Analytics & Optimization While Forrester Envisions Consolidation for the 3 “Bs”, it’s Happening for Apps and BI Vendors


(Posted by guest Blogger, Gib Bassett) Cognos and Microstrategy are the two remaining independent Business Intelligence (BI) software giants following today’s news that SAP was purchasing Business Objects.  Speculation was building online last week that a deal was in the works and in fact for much of this year since Oracle purchased Hyperion, such rumors have been the case.  As I mention in my prior blog about Forrester's prediction of convergence among BI, Business Process Management and Business Rules vendors, firms like Business Objects and SAP used to market against one another, the former espousing the benefits of an enterprise view of data, reporting and analysis, and the other the same, but with deeper functionality and built for the applications producing the data.  A few years and many joint customers later, it’s easy to see why this consolidation is taking place, and it should only become more common as the remaining vendors continue to evolve their product sets around Services Oriented Architectures (SOA) and web services. It...

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Analytics & Optimization Decision Management at the Heart of Future Enterprise Applications, so Says Forrester Research


(Posted by guest Blogger, Gib Bassett) Respected technology prognosticators John Rymer and Connie Moore of Forrester Research just published a new paper titled, “The Dynamic Business Applications Imperative” (September 24, 2007, For CIOs).  Rymer and Moore envision a new generation of enterprise application that some IT organizations today are cobbling together in order to meet ever changing business, technical and marketplace requirements.  The paper is peppered with examples of what they term “Dynamic Business Applications” in use at many household name companies.  At the heart of their idea is integration of the “B3 categories” of software – Business Intelligence (BI), Business Process Management (BPM) and Business Rules – that together with Services Oriented Architecture (SOA) will lead to a more agile platform for the mass market composite applications of the future. There are far too many interesting points to write about here, but some of those I found particularly applicable to Enterprise Decision Management (EDM) were: ...

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Analytics & Optimization Live from EBRC – AML Business Rules


Blogging live again from EBRC - this session is on AML Business Rules at PostFinance (part of Swiss Post) by Oliver K. Burnand who heads up compliance for PostFinance, the FSI within Swiss Post. Provides transaction processing as a public service, now almost all electronic with ATMs and debit. PostFinance is now a full retail bank including investments, payments, savings, retirement planning and so on. Customers are mostly private customers with low to medium assets and a small number of large companies/institutions. 3.2m accounts, so not very large. 800m transactions a year (2m/day with peaks up to 12m). Anti-Money Laundering  (AML) is handled differently for PostFinance but many of the same rules. AML has two particular areas - Know your Customers, Know your Transactions. PostFinance posts 80% by volume of transactions but very low assets per customer and manual supervision of transactions therefore not practical. PostFinance customers often pay into someone else's account in cash and this is unique to PostFinance. Indeed people can transfer cash to...

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Analytics & Optimization Shameless commerce: Smart (Enough) Systems


As some of you know by now I have been working, with Neil Raden, on a new book. As the files shipped to the printers yesterday, I thought I would take the opportunity to shamelessly plug the book here on the blog. The book takes the ideas we have been developing around Enterprise Decision Management (EDM) and that we talk about on the blog here and lays out both why and how you should be using EDM to built systems that are smart enough to make a real difference. The book has a companion site too - http://www.smartenoughsystems.com where you can subscribe to news about the book/authors and read the testimonials we got. Over time we will add more useful links to the site. It should be ready and shipping by the end of June and you can pre-order it here from Prentice Hall (there is a great discount coupon code for readers of the blog - TAYLOR7962) or you can pre-order it from amazon.com here (I don't know what the final price will be on amazon.com). Also, although "Why you Need Smart Enough Systems"(the digital short cut) has been available on Safari...

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Analytics & Optimization What you need to know about Decision Services


A key tenet of Enterprise Decision Management is the automation of the operational decisions that drive your business. You need to identify operational decisions and automate them; you also need to separate them out from the rest of your applications so that they can be managed and reused. The best way to do this is to design what I call Decision Services - services in your Service Oriented Architecture that automate and manage highly targeted decisions that are part of your organization’s day-to-day operations. The first thing a Decision Service does is isolate the logic behind these business decisions, separating it from business processes and the mechanical operations of procedural application code. Treating decision logic as a manageable enterprise resource in this way means you can reuse it across multiple applications in many different operational environments. A centralized approach to decision automation can also eliminate the time, cost and technical risk of trying to reprogram multiple individual systems simultaneously to keep up with changing...

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