Short for
Enterprise Decision Management, EDM entails all aspects
of managing automated decision design and deployment that an organization uses
to manage its interactions with customers, employees and suppliers.
Computerization has changed the way organizations are approaching their
decision-making because it has enabled information-based decisions: decisions
based on analysis of historical behavioral data, decisions and their outcomes.
Organizations seek to improve their Decision Yield (the value created through
each decision) by deploying business processes and
software solutions that
better manage the tradeoffs between precision, consistency, agility, speed, and
cost of decision-making within organizations.
