One of the most crucial part in driving business towards success is making the right decision in adopting and planning your business strategy. The right move will put your business into the right path as well as enhances its growth and resiliency. According to Gartner, one of the many technologies that shows promising results in being a helpful tool for making effective decision is decision intelligence. How does decision intelligence work in helping organisation make the right business decision?
Decision intelligence is a complex process as it involves the analysis of abundance scattered data from various resources and endpoints. Fundamentally, the model of decisions intelligence works based on decision-centric approach (including machine learning, deep learning, artificial intelligence, predictive analysis, visual decision modelling).
Decision intelligence begins with the process of analysing a wide range set of data. The set of data can come in various forms such as historical, transactional, structured and unstructured, behavioural as well as internal and external data. The more amount of data taken into account, the better the insight of the decision will be. With artificial intelligence approach like machine learning and deep learning, decision intelligence works to validate and understand the collected data to be based on the parameters and outcomes set by organisation.
The process is further enhanced by modelling phase where predictive models are generated according to the data being studied and also consideration such as existing business capabilities using the right data skills and platforms.
In the end, contextualisation. Decision makers are presented with options of potential actions being generated through modelling phase and predictive analysis. The presentation will also covers a clear vision on the negative business outcome that may result in from the execution of each selected action. As a results, organisation will have better view in concluding into a better and effective decision.
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