In the AI era, many significant technology concepts evolved out of its principles where we got to witness some robust and benefit-driven phenomenons of robotic process automation (RPA), responsible AI, pattern recognition, logical AI, genetic programming, and computer vision, heuristic classification, and many more.
Artificial Intelligence also derived the emergence of a strong and innovative field namely Decision Intelligence. Though it has been in the market since around 2012, it is gaining more industry attention lately.
Decision Intelligence
Decision Intelligence is a new discipline for leadership in the age of Artificial Intelligence that aims to break the complexity of business problems and decision-making processes.
While gaining competitive value from artificial intelligence and machine learning, decision intelligence is seen as a solution to connect decision support, decision management, and complicated systems applications.
“It is turning information into better actions at any scale.”
Decision intelligence amalgamates data science, managerial science, and social science to allow people to use data most advantageously for transformations and improvements.
To understand decision intelligence better, let’s define some terms.
#Decision
Data is insightful and expanding but decisions made via data are very crucial. A decision is a selection between options that affect the world around us and is a choice made about something considering enormous possibilities. Whichever context it is, a decision may vary as per the circumstances and ongoing trends and patterns.
#Decision-Maker
A decision-maker is a person responsible for the decision architecture and context-framing. Humans or machines create meticulously-phrased objectives based on their intelligence and learning.
#Decision Making
Decision-making is the process of taking actions and making choices between options. It is merely taking responsibility for decisions made. Humans are decision-makers but not machines as they do not bear the responsibility for their outputs but we do.
#Decision Intelligence Taxonomy
Learning about decision intelligence is to bifurcate it into qualitative and quantitative aspects that are largely influenced and overlapped with applied data science and social and managerial sciences.
Decision Intelligence Characteristics
Decision Intelligence is a new discipline for leadership in the age of Artificial Intelligence that aims to break the complexity of business problems and decision-making processes.
While gaining competitive value from artificial intelligence and machine learning, decision intelligence is seen as a solution to connect decision support, decision management, and complicated systems applications.
“It is turning information into better actions at any scale.”
Decision intelligence amalgamates data science, managerial science, and social science to allow people to use data most advantageously for transformations and improvements.
To understand decision intelligence better, let’s define some terms.
#Decision
Data is insightful and expanding but decisions made via data are very crucial. A decision is a selection between options that affect the world around us and is a choice made about something considering enormous possibilities. Whichever context it is, a decision may vary as per the circumstances and ongoing trends and patterns.
#Decision-Maker
A decision-maker is a person responsible for the decision architecture and context-framing. Humans or machines create meticulously-phrased objectives based on their intelligence and learning.
#Decision Making
Decision-making is the process of taking actions and making choices between options. It is merely taking responsibility for decisions made. Humans are decision-makers but not machines as they do not bear the responsibility for their outputs but we do.
#Decision Intelligence Taxonomy
Learning about decision intelligence is to bifurcate it into qualitative and quantitative aspects that are largely influenced and overlapped with applied data science and social and managerial sciences.
Decision intelligence takes into account business intelligence, decision modeling, data science, and management.
Some of its characteristics include:
- Decisions hinge on the notion of actions
- Incorporation of rule-based approaches to AI and
ML for decision making - Used as an effective solution for diverse business
problems - Time and effort reduction in creating and deploying
complex business logics - Resolve discrepancies between the nature of
circumstances and decision-making practices
Applications and Use Cases
Decision intelligence, though is in its early adoption yet
is being used by big enterprises to accelerate and
automate decision-making industry-wise.
#Logistics
To reduce transportation costs, decision intelligence
can enable real-time truck and freight optimization that ensures
timely and scheduled product deliveries.
#Retail
Warehouse management, inventory, and fulfillment
optimization as per demand forecast are powered by
decision intelligence to offer clear visibility and control
in the business.
#Financial Services
Based on a user’s income, credit score, and other
valuable data, decision intelligence can be used to
process loans and mortgages.
Decision Intelligence is the Next Phase in AI’s Evolution!
Decision intelligence is a revolutionary aspect of Artificial Intelligence that can help organizations accomplish their tasks by maximizing data and analytics for better decision making.
Augmenting the power of real-time decision making, decision intelligence can assist businesses in developing meaningful and actionable insights along with the best possible recommendations.
To know more about cognitive technologies and their computational abilities, get in touch with CodeGlo’s IT experts who can enlighten you over the digital advancements occurring in technologies and can provide you lucrative options to incorporate them within your business realm.
About The Author
Richa Jindal
I juggle almost all the aspects of building products and executing projects every day, so I’m the go-to person when you don’t know who’s the go-to person.
