Join Lux Magi and business partner, Trisotech, to discover how Decision Management addresses the key risks of regulatory compliance. This webinar outlined the practical difficulties of supporting mandatory regulatory compliance in finance IT systems and described how a key technique of Business Decision Management—Decision Modelling—can overcome these challenges. The benefits of using the Decision Model and Notation (DMN) were also presented. (more…)
Decision Modeling notations have been adopted by companies to improve the integrity, transparency and agility of their important business decisions. They facilitate the management of business decisions as a vital business asset.
Over the past eight years, Decision Modeling has been dominated by two standards: The Decision Model (TDM), defined by Sapiens Inc, established in 2009 and documented superbly in The Decision Model book by Larry Goldberg and Barbara von Halle and The Decision Model and Notation (DMN) an open standard first defined by the Object Management Group (OMG) in 2013 and documented in books by James Taylor and Jan Purchase and Bruce Silver. Both standards are in use and continue to evolve.
While James Taylor and I were collaborating on our Decision Modelling book, and discussing our experiences of using DMN after using TDM, we wondered: how does TDM experience inform good practice in DMN? What can newcomers to Decision Modelling and DMN learn from the earlier standard?
In short, a great deal.
We believe that new, and even experienced, Decision Modeling practitioners can benefit significantly from background knowledge of TDM. This article explains why and what these benefits are.
Join us for this live presentation in picturesque Dublin to learn about the best practices and traps of integrating business processes with business decisions.
Why should organizations model their business decisions? What are the benefits of using DMN and BPMN to capture and define the logic of your business decisions and analytics within the context of a business process? How should you best split business concerns between the process and decisions and what are the pitfalls of interfacing the two? We will discuss all of these points.
This live presentation will examine how process and decisions work together and walk through real BPMN and DMN models from financial compliance explaining how process and decisions have been integrated in projects. Learn proven best practices for overcoming key business challenges: including overly complex rules, improving ROI of expensive processes and agile migration to automated decision services.
I am pleased to announce the release of James Taylor’s and my comprehensive guide to decision modeling with the Object Management Group’s Decision Model and Notation (DMN) standard. The book, “Real-World Decision Modeling with DMN”, has been published by Meghan-Kiffer Press and is now on general release, available from Amazon in paper and Kindle versions. It is also available from Barnes and Noble.
Decision Modeling is an important technique for improving the effectiveness, consistency and agility of an organization’s operational decisions and a vital enabler of the continuous improvement of its business processes. DMN is a standard that is integrated with many other established industry standards. It has been created by experienced practitioners and is maintained by the Object Management Group (OMG; a prominent standards authority). It is flexible and extensible. It is already supported by over 14 software tools. Indeed, DMN represents the most complete and best supported means of modeling business decisions that is currently available or likely to become available in the near future.
“A well-defined, well-structured approach to Decision Modeling (using the OMG international DMN standard) gives a repeatable, consistent approach to decision-making and also allows the crucial ‘why?’ question to be answered—how did we come to this point and what do we do next? The key to accountability, repeatability, consistency and even agility is a well-defined approach to business decisions, and the standard and this book gets you there.”
— Richard Mark Soley, Ph.D., Chairman and CEO, Object Management Group, Inc.
Ahead of the publication of our joint book on Decision Modeling, to be released later this year, James Taylor and I have made a series of video shorts about business decision modeling. In this last video, James and I talk about real benefits that decision modeling using DMN delivered to our clients on some recent engagements. Specifically we discuss how the use of decision modeling:
- Speeds up business rule and data requirements discovery, quickly identifying wrong assumptions and mistakes
- Adds effective communication and consistency between teams and across projects
- Improved business subject matter experts, analyst, developer and program manager engagement and ownership
- Managing size, complexity and rapid change in business requirements
- Improves the definition of the automation boundary
- Gave better tracability between internal decision definitions and external regulations
Let us know what you think. Review the first, second, third, fourth and fifth posts of this series. Find out more about decision modeling and its benefits. Talk to us about decision modeling mentoring and training.