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Decision engines and analytical applications
While data warehouses and data marts provide an easy-to-use, central repository of useful information, decision engines turn the data into knowledge that can be used in making key business decisions such as:
- Marketing the right products and services to the right customers
- Cross-selling products and services to existing customers based on knowledge gained through transactions with different departments and through different channels
- Improving customer support by routing calls appropriately in the support queue
- Streamlining business processes by enabling instant decisions based on a customer's credit history and an organization's business rules
How do analytics work?
Information is gathered in a central data warehouse about the specific situation, the company selling the product (i.e., marketing and sales tactics), and the characteristics of the individual customer. Through data mining, predictive metrics such as "propensity to buy" are fed into a decision model, which CGI can help design. The decision model, or engine, drives the operational decisions to various transaction systems such as customer care, marketing, and sales. By controlling the rules in the decision engine and applying them deliberately in CRM systems, for example, organizations can test new tactics and measure results in a consistent manner (i.e. through champion-challenger strategies). Further, the results of the operational decisions will continuously flow back into the data warehouse, providing a closed-loop for evaluating both business performance and the decisions producing those results.
The result: Organizations transform the information in the Data Warehouse into meaningful decisions and provide for continuous improvement.
Also see
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