Decision management was described in 2005 as an "emerging important discipline, due to an increasing need to automate high-volume decisions across the enterprise and to impart precision, consistency, and agility in the decision-making process".
[1] Organizations seek to improve the value created through each decision by deploying software solutions (generally developed using BRMS and predictive analytics technology) that better manage the tradeoffs between precision or accuracy, consistency, agility, speed or decision latency, and cost of decision-making within organizations.
[2] Organizations are adopting decision management technology and approaches because they need a higher return from previous infrastructure investments, are dealing with increasing business decision complexity, face competitive pressure for more sophisticated decisions and because increasingly short windows of competitive advantage means that the speed of business is outpacing speed of information technology to react.
[3] There are a number of different approaches used to apply decision management principles.
In general, these follow three steps: Decision management often involves the use of A/B testing and experimentation as well.