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The purpose of this paper is to substantiate the perspectives and to develop recommendations for managing digital modernization of regional markets of educational services in the conditions of formation of Industry 4.0 by the example of modern Russia.

The methodological basis of the research consists of the hypothetical and deductive method. The offered hypothesis of the necessity for decentralization of managing digital modernization of regional markets of educational services in the conditions of formation of Industry 4.0 is verified with the help of a complex of methods of economic statistics (econometrics), namely, the method of regression analysis and analysis of variation. The research objects are regions of modern Russia that are peculiar for the highest level of scientific and technological development (top 15 of 83 regions at the beginning of 2019), which shows their largest progress in formation of Industry 4.0. The information and empirical basis of the research consists of the materials of the report on human development in the Russian Federation “Human and Innovations”, prepared by the Analytical Center for the Government of the Russian Federation (values of the education index are taken from it), and analytical materials of the rating “Level of Development of Science and Technologies in Regions of Russia” as a result of 2018, prepared by Ria rating (values of the index of scientific and technological development are taken from it).

It is determined that regional specifics are not sufficiently considered during management of modernization of regional markets of educational services in the conditions of formation of Industry 4.0 in modern Russia. This reduces efficiency of managing digital modernization of regional markets of educational services and leads to the fact that these markets do not perform their function of infrastructural provision of Industry 4.0, slowing down the process of its formation.

The necessity for managing modernization of the markets of educational services in the conditions of formation of Industry 4.0 at the regional level, in view of specifics of the regional economy, is substantiated. For this, a conceptual model and recommendations for its practical application in modern Russia are offered.

Purpose: The purpose of the work is to study the essence and to determine the algorithm and methodology of decision making as a choice of the existing alternatives according to the scientific approach to this process of management of modern business systems.

Methodology: The research is conducted with the help of the method of process analysis, which allows determining the stages of the process of decision making in modern business systems and determining its algorithm; the method of formalization, which allows presenting the obtained algorithm; and the method of comparative analysis, which allows comparing the existing methods of decision making as a choice of the existing alternatives.

Conclusions: As a result of generalization and systematization of the existing scientific knowledge in the sphere of managerial decisions in modern business systems and reconsideration (logical analysis) of this process, its algorithm is compiled. Four stages of the algorithm of making of managerial decisions in modern business systems are distinguished – determining the needs of business system for managerial decisions, determining the possibilities of business system in making of managerial decisions, compiling alternative variants of managerial decisions, and implementation of the made managerial decision and further evaluation of its optimality. Also, methodological tools of each stage are determined.

Originality/value: The developed algorithm possesses the following advantages as compared to the existing scientific descriptions of this process: completeness, complex solution of the problems of the business system through managerial decisions, connection of the methodology of managerial decisions to each stage of the algorithm, and systemic character of the methodology of decision making as a choice of the existing alternatives.