BUSINESS RULE BASICS WHITEPAPER Understanding Business Rules and Automated Decisioning2 Business Rules Basics - Understanding Business Rules and Automated Decisioning What is a Business Rule and Why Are They Important? WHAT IS A BUSINESS RULE? All businesses have business rules as they provide the guidelines for how the business should operate. Rules can be thought of as declarative statements of fact - both simple and complex. Rules can produce outcomes ranging from a simple yes/no decision all the way to complex scoring based on multiple criteria. Business rules live throughout the organization and often represent the collective experience of professionals that have contributed to the business. This retained knowledge or ‘rules of thumb’ help us quickly manage risks and capit

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