Business Rules

The fuel for the automated digital decisioning engine.

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Value of Business Rules

Business rules

Business rules have been around in the business world for a long time. There are mature software products on the market under the category of BRMS (business rules management system) that specifically codify, digitize, and manage large scales of business rules. Powered by advances in the software industry around decision modeling, advanced analytics, machine learning, process orchestration, low-code/no-code rapid application development, and constraint-based optimization, traditional BRMS has gradually evolved into modern day decision management system or digital decisioning platform.

If digital decisioning is the car, business rules are the fuel that powers its engine.

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Benefits and Components
In a decision management system, decisions are represented by business rules, also called decision logic. To make a decision, the conditions of business rules are evaluated and according actions are taken based on pre-defined expressions. Rules and rule sets can be organized and displayed in many formats – decision tables, decision trees, scorecards, and decision graphs. Normally a rule engine performs the task of delivering the decision services by executing rules against input data. The methods of such rule execution can be one of any forms among forward/backward chaining inference, Boolean logic, or runtime code generation. A true modern, powerful, and smart digital decisioning system delivers optimized decisions through high-performing execution and sophisticated yet flexible decision modeling facilities that can easily and seamlessly operationalize advanced analytics and machine learning algorithms.
To make business rules work in an automated decisioning system, they need to be defined, authored, configured, stored, tested, deployed, executed, optimized, and managed on an on-going basis. A flexible rule authoring environment should provide options for both business-type decision experts as well as technical professionals. With such flexibility, business users can take full advantage of intuitive, drag-and-drop graphical user interface to view, edit, and create rules and model decision flows. Yet the power is not lost at technical user side since the system also provides rich grammar, user-defined vocabulary, and English-like syntax rules for sophisticated rule authoring and programming capability.
As an active, emerging area in enterprise software industry, digital decisioning and decision modeling specifically enjoys wide adoption and support from standards bodies such as OMG (Object Management Group). Open standard, XML-based DMN (Decision Model and Notation) becomes very popular for decision modeling, FEEL (Friendly Enough Expression Language) for rule expression, and PMML (Predictive Model Markup Language) from Data Mining Group for describing and exchanging predictive models produced by data mining and machine learning algorithms. Coming with the decisioning products, FICO also developed SRL (Structured Rule Language) for codifying business rules. It’s English-like and easy-to-understand.
Business Rules Solutions
Learn more about FICO's core and industry leading business rules solutions:
With 60+ years of pioneering work in predictive analytics and artificial intelligence, FICO powers our solutions with the most advanced science available.
FICO’s long-standing leadership in decision rules is best exemplified by FICO’s leadership status in the Forrester Digital Decisioning Platforms new wave report. This report, while highlighting the criticality of being able to ingest data, and develop and execute analytics and data insights, hinges on the ability to articulate, integrate and execute on decisioning logic and strategies.

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