EDM can give your business decisions greater:
- Precision. Increase revenues and improve risk management through greater segmentation, more relevant offers and better risk management. Benefits include:
- Higher revenue yield per customer interaction, through better targeting and segmentation and through more timely responses to customers
- Lower losses from fraud and bad debt, through using analytics to improve risk management
- Lower costs through refined targeting, such as eliminating "off target" marketing messages or prospects that are unlikely to buy
- Consistency. Ensure that all decisions meet your rules, policies and regulations, by automating 75% or more of your operational decisions. Benefits include:
- Lower costs of making decisions through automation, reducing the number of people and streamlining the processes needed to make or process a decision
- Lower costs of compliance, regulatory requirements, through centralized and easy to update business rules management
- Faster decisions that operate at the speed of the transaction, lowering hand-off costs between systems and between people
- Agility. Meet new competitive and compliance demands by rapidly changing your business rules, and instantly executing new strategies. Benefits include:
- Improved strategic alignment, greater competitiveness through faster response to market changes and regulatory demands
- Greater return on new product & market opportunities, through faster time to implement and change decision-based processes, change approaches to the market
- Lower IT / Development costs to change decisions, by placing control of business rules in the business users' hands
Additional benefits of Enterprise Decision Management include:
- Business benefits:
- Increase revenue and profitability by improving the consistency, relevance, speed and precision of customer decisions, getting more value from every customer interaction
- Improve customer relationships and retention through more targeted offers, faster response to service requests and more consistent treatment
- Minimize losses through the use of analytics for more accurate and consistent risk assessment and fraud detection
- Gain competitive advantage by being more nimble than the competition -- get new strategic initiatives, products, campaigns and pricing to market faster and with greater precision and consistency
- Ensure and demonstrate rigorous compliance with corporate and regulatory policies.
- Operational benefits:
- Reduce the costs associated with decision-based processes, while improving decision consistency, speed and quality
- Leverage existing investments in data warehousing and CRM—derive more value from all corporate and external data sources
- Reduce ongoing maintenance costs required to change / tune models, rules or strategies that are in production
- Free up IT backlog, accelerating progress of other projects with revenue or profit benefits
