Decision Intelligence is N🚫T about leveraging diverse #data sources and applying advanced #analytics and #machinelearning and #genai.

✨Decision Intelligence is, first and foremost, about business decisions. It is a framework for thinking about what technology to use, when to use it, and how to apply it in a business decision's context.

To be successful with #decisionintelligence, you should start by modeling business decisions. Therefore, decision management practice is at the heart of decision intelligence.

🎯Once a business decision is modeled, then it is time to pick the relevant set of techniques as a composite #ai technique to implement various parts of the decision model. Those techniques can be #rules, advanced #analytics #machinelearning #optimization, human judgments #heuristic, etc.
The point of #DecisionIntelligence is to be open and not fixated on choices of technology and leave that to the decision units as part of your hierarchical decision model, representing a holistic view of business decisions.

How do you do this? You need to use the Decision-Centric Approach.

Below👇 are the steps to model business decisions:
– pick a business function and understand its operation
– understand the metrics they want to improve
– identify business decisions that they make on a daily basis
– decompose the business decisions into smaller, more easy-to-understand decision units
– determine the relationship and dependencies between them
– specify the metrics of decision units and their relation to the operation metrics that you want to improve
– determine the inputs and outcomes of the decision units
– determine the type of the decision units, e.g. deterministic vs predictive vs probabilistic, etc.

🚀Now that you have created the decision model with connected decision units, you can choose a suitable technology based on the nature of each decision unit.

💣Business decisions are complex and cannot be automated with a single technology or approach. They require a multi-step and hierarchical decision model (i.e., Decision Graph) supporting composite AI that utilizes multiple techniques and brings them together as a unified view to address the complex requirements of business decisions.

Learn more on how to model business decisions at https://lnkd.in/gvAndKkw

Posted here.

Published May 7th, 2024 at 07:30 am