What Does Enterprise Decision Management (EDM) Mean?
Enterprise decision management (EDM) is an enterprise approach that applies analytical and rule-based systems to manage and deploy all operational decisions, such as relationships with employees, suppliers and customers.
The computerized EDM movement altered the enterprise decision-making process by incorporating information-based decisions based on historical behavioral data, as well as prior decisions and their outcomes.
Techopedia Explains Enterprise Decision Management (EDM)
EDM emerged from the need to facilitate high-volume enterprise decisions.
Enterprises apply EDM processes to business and technology infrastructures for the following reasons:
- To generate a higher return on older investments
- To increase business decision complexity
- To mitigate competitive stress resulting from increasingly complicated decisions
- To capitalize on the limited competitive benefit opportunity (IT struggles to keep pace with business development)