FICO’s own Alan Fish has just published Knowledge Automation (Wiley). The book provides a how-to guide for improving business processes by automating business knowledge, which includes not just human knowledge but “artificial” knowledge extracted from data using analytics.
Knowledge Automation: How to Implement Decision Management in Business Processes describes a simple but comprehensive methodology for decision management projects, which use business rules and predictive analytics to optimize and automate high-volume business decisions. Fish describes a new method called Decision Requirements Analysis, which can help IT professionals run any project to implement decision management with reduced risk and increased profit.
According to Fish, “Business managers and IT professionals looking to get value from Big Data need to focus not just on how it can be stored but also how it can be analyzed, and how the resulting knowledge can be used in automated decisions. The biggest reason businesses fail at this is that they don’t clearly define the scope and structure of their decision management projects.”