The Model Can Be Customised
The key advantage to our decision
models – customisation. While scoring models are not unique – we are all
accustomed to looking at our credit score to understand whether we can and what
it will cost us to go out and purchase a house – client customisation decision making models are certainly less
discussed and less understood. With a
client-designed decision-model, a multitude of factors can be built into the
decision and those factors can be adjusted to the risk comfort and the business
model of your organisation.
The final valuable differentiator is the way that we report the results. There is not simply one final “numeric score” and recommendation. Rather, you see the results of each input that goes into the decision so that you can understand what gave rise ...
Increasing Productivity and Profitability
One of the most significant advantages to using decision-making models is to exponentially improve productivity and profitability. Processing thousands of applications in an hour can be done easily by a decision-making model, whereas only a handful ...
Consistent Decision Making
A second key advantage to using decision-making models is to ensure that decisions are more consistent. By automating the decision-making process, you can be sure that the same methodology is used repeatedly, each time an application is processed.
Impartial Decision Making
A third advantage to using decision-making models is to make decisions impartial. Decision making becomes largely objective and impartial, removing biases. Thus, unintended discrimination based on subjective or unwanted factors (for example – race, ...