Pega customer Decision Hub enables organizations to make Next-Best decisions.

Next-Best-Action in Pega Customer Decision Hub is primarily applied to customer engagement and decisioning scenarios:

Purpose of Next-Best-Action:

Step 1: Next-Best-Action aims to provide personalized recommendations and decisions that are most relevant to the customer at any given moment.

Step 2: It uses predictive and adaptive analytics to determine the most appropriate actions based on customer data and business rules.

Application in Loan Decisions:

Step 1: In the context of determining if a borrower gets a loan, Next-Best-Action evaluates various factors such as creditworthiness, loan history, and current financial status.

Step 2: It leverages AI models to assess the risk and likelihood of repayment, ensuring that loan offers are extended to eligible and suitable customers.

Implementation Steps:

Step 1: Set up decision strategies in Pega Customer Decision Hub to include criteria for loan eligibility, such as credit scores and income levels.

Step 2: Configure predictive models to analyze customer data and predict loan approval probabilities.

Step 3: Use engagement policies to ensure that the loan offers are aligned with business objectives and regulatory requirements.

Benefits:

Applying Next-Best-Action to loan decisions helps in making data-driven and objective decisions, reducing the risk of defaults and improving customer satisfaction by offering relevant financial products.

References:

Pega-Customer-Decision-Hub-User-Guide-85.pdf: "Understanding Next-Best-Action Designer basics" section.

Pega documentation on "Decision management and AI in financial services".