🚩Business Intelligence (BI) does not bring much value when it comes to business decisions.
The data-driven approach looks at the data and does a great job at reporting on the ‘what'.
Is that enough for management and executives today?
💣Not anymore. Based on a Gartner's report from Reengineering the Decision “There is greater expectation to explain or justify decisions.” – 75% of executives and management need to know why and how a specific decision is made.
I was talking to a prospective customer -a big player in food service industry #foodindustry- that are looking for a Open Decision Intelligence Platform to help them understand the ‘why' behind the reports.
The #DecisionIntelligence allows you understand the ‘why' behind the decisions. The data, report and trend are just the outcomes of those decisions and cannot be understood from the BI lens.
Why Decision Intelligence (DI) is able to address this?
✨Because the core foundation of the Decision Intelligence is the decision modeling.
A decision model is a hierarchical and multistep model that depicts and guides how a decision is made and executed. It represents a holistic view of complex business decisions.
🎯Once making and executing the decisions are based on a decision model, the Open Decision Intelligence Platform (DIP) captures the context, the input data, as well as the rules, algorithms, and all sub-components of the decisions they created the outcomes that you will see in a report or a dashboard.
75% of management, senior executives, and boards are trying to decipher this decision explanation by looking at a dashboard or report.
But guess what?
🛑The #BusinessIntelligence #BI does not capture business decisions or execute decisions based on any decision model. Therefore, the explainability of the outcomes are not in the reports and dashboard.
You can read and learn on this topic from David Pidsley at here.
Posted here.
Published August 26th, 2024 at 07:30 am
