✨Business Decisions are the core of everything organizations need to do to win in a marketplace.
🎯Focus on business decisions by leveraging Decision-Centric Approach® that #decisioncentric enables organizations to make optimized, customer-centric and situation-aware business decisions.
How does that help?
There are three broad categories your business can benefit from:
1️⃣ Mass personalization — The personalization is more than starting your email with “Dear …” and putting a correct name. Personalization is about understanding what customers need and mapping it to the products and services you can offer to answer their needs in time. Real customer-centricity #CX is when you can make decisions that impact customers positively across channels. Whether in #banking offering the right product, in #insurance getting the price right, or sending the right notification to the right channel. They are all about understanding the customer and putting the right next-best action in front of them. What decisions do you need to make and execute for a customer at any point in time based on what you know from them and their intent?
2️⃣ Streamline operation — Process and Case management can put structure in place in organizations and handle cases. The issue is you cannot scale. To scale, you will need to increase head counts for processing cases. But this should not be the case if you could straight-through process everything you can and handle exceptions as they arise. For instance, in #banking, you can put #creditdecision engine inside the processes, or in #insurance by adding #pricing engine and #rating engine inside the processes. Leverage decision automation to take care of 80% of cases and leave the 20% for manual work and exceptions to review by your staff.
3️⃣ Make the #AI work — With all the hype around #AI #LLMs and #MachineLearning, it is very easy not to know where to start and leverage them in an organization's decision-making scenarios. It is especially very difficult for organizations with data and analytics capabilities. As it gets more confusing and everything changes every day, the default fallback for the data and analytics team is to capture everything and then put data in the hands of operation, create reports, and do the data job. Instead, the data and analytics leader should shift the focus from data to decisions. Make the decisions first-class citizens, meaning business decisions guide the team on what to automate, what to capture, and what technology #businessrules #machinlearning #optimization #llms to leverage. #decisionintelligence
🚀Focusing on business decisions will bring alignment between technology #CIO #CTO, data and analytics leaders #CDO #CDAO and business leaders #CMO #CRO #CCO therefore, your organization as a whole can make Quick, Accurate, Consistent and Transparent (Quick ACT™) decisions.
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Published September 30th, 2024 at 07:30 am
