Decision Engineering
Our Decision Engineering services aim to help organisations to exploit
business information and manage complex decision making processes. Knowledge underpins
any decision making process and we understand how knowledge can be gathered, analysed, optimised,
distributed and even automated. We call this "Decision Engineering".
Our knowledge modelling expertise also enables us to provide clients with a
powerful and unique approach to business process review, analysis and redesign. By
extending traditional notations with our knowledge modelling techniques we are able
to model the knowledge that underpins each process in addition to the information and
data. This enables us to thoroughly map out all business processes including those that
are knowledge-based. In addition it gives us an indication of the different kinds
of technology, intelligent and conventional, that may be used to support or automate
these processes.
Our consultants have unrivalled experience in developing the two
most common categories of decisioning applications, namely customer relationship management
and risk management. Application areas we have tackled include:
- asset-based lending underwriting;
- bad debt management;
- credit and risk scoring;
- credit card fraud detection;
- share application fraud detection;
- money laundering detection;
- in-clearing automation;
- customer profile analysis;
- referred payment authorisation;
- customer data de-duplication;
- trading compliance and fund accounting;
- private banking customer credit scoring
Our consultants are experienced in the various technologies used to
automate these kinds of decision making processes, including statistical analysis,
rule-based systems, case-based reasoning, intelligent agents, data mining,
data visualisation, neural networks and genetic algorithms. We are able to assist
clients in determining which toolkit or approach is the best to use. Our approach
is however pragmatic and we will always aim to implement our solutions using
whatever hardware and software environment is used by the client.
Our solutions are typically delivered via a proven two-stage process:
- Scoping — helping clients to quantify a particular problem area and map out a
potential decisioning solution. A key aspect of the study is the assessment
of both business and technical feasibility as well as the formulation of an
effective business case. We often build a "proof of concept" prototype
in order to establish technical feasibility and illustrate the proposed solution;
- Solution Development — helping clients to implement and realise the benefits of
a decisioning solution. Central to the development process is the knowledge modelling
activity. In addition to system development this will typically involve an element of
process improvement or re-design in order to maximise the potential of the new system.
Decision Engineering White Paper
A white paper on decision engineering is now available from Knowco. Please email
us at
knowledge@knowco.co.uk
for a copy of this white paper.
For more details of Knowco decision engineering consulting services please email us at
knowledge@knowco.co.uk
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