New SAS® Decision Manager transforms big data into smarter decisions
Single platform combines SAS strengths in information management and analytics
THE PREMIER BUSINESS LEADERSHIP SERIES, AMSTERDAM (11 Jun. 2013) – It's simple: better, faster decisions boost bottom-line results. But how can organizations make better decisions with huge amounts of big data pouring into and through their systems? SAS® Decision Manager, from the leader in business analytics, integrates predictive analytics, business rules, and data management to help companies improve their decision-making.
With SAS Decision Manager, organizations can make sense of big data whether applying analytics to strategic decisions or everyday operational ones, such as credit, fraud risk, next-best offers, pricing and claims approval. By automating parts of decision-making processes, organizations improve the speed and accuracy of decisions and ensure they are consistent and repeatable.
SAS® Decision Manager improves performance
Executives at one global financial services firm, for example, knew that better lending decisions reduced credit risk. Traditionally, the firm's analytics team had built a small number of models to predict loan repayment. Its IT team had then received the models, and customer data was fed in for analysis. Finally business staff approved loans based on the models' recommendations. These many steps and handoffs added time and costs to lending decisions.
SAS Decision Manager now allows the same company to feed data into a variety of relevant data models while eliminating manual handoffs between the teams. This has reduced the decision cycle from months to hours. And with SAS Decision Manager, loan decisions are constantly validated and modified based on ongoing input and further analytics.
SAS Decision Manager has also helped the business staff of this financial services firm to create business rules to determine how to use model output. The IT and business teams now use the most relevant models and business rules for loan decisions, and the speed and effectiveness of lending has increased significantly.
"The use of business rules as a foundation for decision management systems promotes agility by ensuring that business rules are transparent, easy to change and owned by the business," said James Taylor, CEO and Principal Consultant for Decision Management Solutions. "In this era of big data, organizations look for analytic insights to improve performance. They need an integrated decision life cycle supported by a common platform that drives collaboration among business, IT and analytics teams. SAS Decision Manager supports these requirements in a single integrated platform."
Automate decisions, boost big data value
SAS Decision Manager provides a single, visual interface that:
"We built SAS Decision Manager on an analytics platform to help organizations manage all their decisions, whether strategic or operational, in a single framework," said Madhu Nair, SAS Senior Manager for Information Management. "SAS Decision Manager delivers a consistent user experience and management environment that supports systems and workers throughout the organization. With it, companies can make faster, more accurate decisions that reduce costs, increase revenue, and bring innovative products to market ahead of competitors."
Today's announcement came at The Premier Business Leadership Series event in Amsterdam, a business conference presented by SAS that brings together more than 700 attendees from the public and private sectors to share ideas on critical business issues.