Lux Magi News

After extensive testing, our DMN Pricing Engine has been released. In the first weeks of use it has already caused a reduction in 35% of pricing support calls due to its transparency and enhanced accuracy.

Following their successful implementation of a DMN model to support IFRS-17, Lux Magi has recently been commissioned to implement an insurance pricing engine for a major Austalian insurance company. Featuring lifecycle support for all six product classes, the model is thought to be the first of its type. DMN is widely used in insurance claims processing and now its transparency, integration with AI and machine learning and business focus can be applied to the development and rapid evolution of insurance pricing.

DMN has helped us to reach new levels of explanability and agility in pricing client policies.

Lux Magi’s Jan Purchase will appear as an invited panellist at 2021’s virtual Decision CAMP. Decision CAMP is a leading conference for practitioners of business decision management, decision modeling and AI. Jan will be discussing the future of DMN the Decision Model and Notation and how it supports the ethical application of artificial intelligence.

Jan is also presenting a paper about the DMN On-Ramp on day three of the conference (Sep 15, 2021).

Improve your understanding of how Machine Learning and Decision Models work together and the advantages they hold for business automation in this series of free videos.

Lux Magi uses DMN and the Scikit Learn Library to create a decision that used machine learning to reach a decision and then corrected bias in the decision using decision modelling.

“This is the first example of it’s kind,” said Lux Magi head of Research and Development, Jan Purchase. “Although the machine learning model has been biased by its training data (a common problem in AI) the decision model corrects this bias in a completely accountable way providing an interpretable and fair outcome.“

Lux Magi’s Jan Purchase has been invited to chair the Decision Automation Organisation’s DMN On-Ramp Committee. The Committee is building resources to help businesses decide how decision modelling and managament can best address their problems and a compliance framework for DMN tools to meet these needs.

“The DMN On-Ramp will make it clear how businesses can automate their business decisions and the tools they’ll need to do it.”

In conjunction with partner Rapidgen, Lux Magi’s Jan Purchase will be presenting at the IRM Business Analyst Conference Europe 2020 on how machine learning and decision management make a power combination. A recording is available here.

Lux Magi is pround to announce that Our Decision Management and Modelling training course is now being delivered on five continents with engagements in the US, the UK, Europe, Ireland and now APAC this quarter.

Lux Magi’s Jan Purchase appeared as an invited panellist at Decision CAMP in Bolzano, Italy. Decision CAMP is a leading conference for practitioners of business decision management, decision modeling and AI. Jan will be discussing the future of DMN the Decision Model and Notation and how it might better support machine learning.

Lux Magi is proud to announce the opening of our Machine Learning and Analytics Practice. Consultants in this practice can help your company to benefit from the powerful harmony of business decisions empowered by machine learning. Learn more about the benefits of this partnership and how decision management mitigates many of the risks of machine learning projects.

Our presentation Explaining the Unexplainable: Using DMN to Justify the Outcomes of Black-box Analytics shows, by example, how DMN decision models can be used to explain the behaviour and outcomes of classification analytics and explains the pros and cons of the approach.

Our presentation High-Performance Decision Model Execution by Compilation of DMN into Machine Code will show why performance is increasingly important as market requirements, multiplying data sources and ever more sophisticated business needs conspire to increase the processing burden for decisions. We’ll explain how mega-decisions per second can be realised on modest hardware and give a performance demonstration of a complex 50-node, financial decision in DMN.

From better integration of predictive analytics into a business  process to improving the transparency and agility of your business’s key decisions, there has never been a better time to learn Decision Modeling and Decision Management.

Lux Magi, decision management consultancy and co-contributor to the most comprehensive book on decision modeling with the Decision Model and Notation (DMN) standard, is proud to be a RapidGen Partner.

“RapidGen’s experience of very-high performance decision engines and optimized decision table compilation is a perfect complement for our decision management training, consultancy and architecture offering. Together we help clients to model, manage and execute their decision-making with accuracy, transparency, scalability and efficiency. We feel that the power of decision modeling is not only in accurately and concisely expressing business decision-making, but in model-driven generation of executable systems from DMN.  We are particularly impressed by the execution performance of the latest version of the RapidGen Genius DMN execution engine which promises to make accountable, transparent and high-volume processing of corporate decisions a reality.”
Jan Purchase, Director and Founder, Lux Magi Ltd.

RapidGen Genius will enable companies using decision management and decision modeling in DMN to directly deploy their decision models into a ultra-fast execution environment. Find out more about RapidGen on our partner’s page.

Lux Magi’s Jan Purchase, in collaboration with James Taylor, is proud to announce the recent publication of his new book “Real World Decision Modeling with DMN”. The book is published by Meghan-Kiffer Press and is the most comprehensive guide to decision modeling and DMN currently available.

This comprehensive and incredibly useful book offers a wealth of practical advice to any-one interested in decision management and its potential to improve enterprise applications. Using a blend of user case studies, patterns, best practices and pragmatic techniques, Real-World Decision Modeling with DMN shows you how to discover, model, analyze and design the critical decisions that drive your business!

David Herring, Manager of BPM & ODM Delivery at Kaiser Permanente.

Read our blog article to find out more.

You can get two chapters of this comprehensive book – consult our white paper listings for a free download.