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.
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