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Decision Engine – Our Experience & Expectations

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An automated system which executes the user defined rules on the data sourced from multiple databases or files or external data providers and on matching the conditions or patterns it executes another set of rules or communicates the result required for the business. Though the multiple data sources provide large number of data points, few data points which are required for the enterprise will be shortlisted by an expert in the domain. The difficult part of defining rules will also be done by the expert matching the domain of the enterprise with the help of mathematical or logical expressions. The credibility of the rules will be confirmed by executing the rules on the known existing data set of the organization.

Benefits of DE:
A decision engine which can help to deliver strategic benefits like.

Efficiency:
The systematic approach in developing an automated decision engine helps to minimize human intervention thus removing redundant efforts resulting in improved efficiency, reliability and speed. The human resources will be better utilized for developing innovative solution for the enterprise.

Scalability:
Irrespective of data format whether it is structured or unstructured the Decision Engine will be capable of handling it and deliver the required outcome. It also helps in processing huge volumes of data in a shorter period and derive value out of it thus minimising the cost of operation.

Flexibility:
The agility to adapt to new data sources, defining the business rules to it and thus aligning with business goal is the advantage associated with the DE. The ever-changing business scenario with mergers and acquisitions, the DE will be scalable to adopt to changes and serve to meet the business objectives.

Maintainability:
Decision engines developed with clear objectives and approach will be easy to maintain and quickly adaptable by the new members of it. The value of knowledge created by developing and maintaining a DE is enormous.

Security:
Since the business logic to execute the decision-making rules is independent of data, it can be autonomously managed which results in enhanced security. The traceability of decision made and reproducible ability of it, adds an additional defending mechanism to the engine.


Who benefits out of DE
The operating style of the organizations underwent a drastic change due to the implementation of Decision Engines. The fatigue of individuals due to redundancy in executing tasks will be minimized and they will be allowed to focus on more complicated and challenging assignments. The swiftness in responding to customers will help them to take corrective actions which will lead to meet the rules defined for eligibility to avail the services or benefits. As an organization, an effective utilization of resources will be guaranteed by the Decision Engine.


Challenges and chances of DE
The ever-changing landscape of business offerings (Eg: BNPL) and cultural changes (Eg: LGBT) is creating an environment for newer ways of interpretation of data. The growth of digital economy is also leading to exponential growth of data in an organization. Though the IT hardware infrastructure is scalable to handle huge data, the organization should be enabled to define smaller rules which can be combined to create large & complex rules which should help in better performance of the engine. The knowledge which helped in defining the rules should not be wiped out and it should be retained and transferred to next generation of organizational users, who will be improvising the same to meet the current growing trends. Decision engine agnostic of rules to be reused across multiple domains should be achieved. The major mile stone would be the generation of data sets to test the Decision Engine. The consumption analytics should enable the authors to identify the outdated rules and redefine them.


Conclusion
The futuristic Decision Engines will become an essential component of growing enterprises to cater accurate results. It helps in defining the strategy of the organization by aligning the data from various departments like marketing, finance, human resources etc. Going forward, it will entertain the participation of customers and other stake holders of the business leading to development of an effective business model.

What does the future hold for decision engines? From our perspective, the prospects are bright.