Do N🚫T think of Decision Intelligence as a technology arm.

✨Decision Intelligence (DI) is a discipline that integrates principles of decision-making from various fields, such as computer science and engineering, cognitive psychology, social science, data science, and statistics, into a uniform approach, enabling organizations to make quality decisions.

🎲In the decision intelligence discipline, there is a big difference between “decision” and “outcome.” A decision is an attempt to conclude a judgment. In a business and organization setting, it is a business question, i.e., a business decision about a case in a specific situation. On the other hand, the “outcome” is the result of making the “decision.” The results may be conclusive or inconclusive.

🚩The issue many organizations have is that they see decisions as a mix of many technologies, including #data #AI #machinelearning #process #workflow #dashboard #llms, and so on.

When we make a decision, there are many things we need to take into consideration:
🔹Decision criteria related to the situation and circumstances
🔹Metrics and correlation of them with KPIs
🔹Quality of the decisions
🔹Quality of the outcome
🔹Domain knowledge in a context
🔹Information and other's decision dependencies
🔹Optimization in a certain context (constraints, objectives, goals…)
🔹Noise, bias, and ethics
🔹Risks and trade-offs

As you can 👀see, almost all of the factors above have nothing to do with technology. In a business setting, business decisions often involve considering more than one of the above factors. Depending on the industry and type of operation that the business is running, the priority of those factors changes in different decision-making scenarios.

💣When you think about it, decision-making based on a couple of those factors every day for thousands of times at scale in the organization is impossible. We humans have limited capacity in the number of decisions we can make (the theory of “decision fatigue”) until the quality of our decisions diminishes.
Therefore, we have to be very systematic about how we make decisions, particularly business decisions that are tie to organizations objectives.

🚀At its core, the Decision-Centric Approach® https://lnkd.in/gcWUy9eU is a #decisionintelligence framework for business decisions. It will empower teams to identify, capture, manage, automate and operationalize business decisions at scale using various tools and #AI techniques such as #machinelearning #rules #data #algoritm #orchstration #llms #optimization and etc. It enables organizations to frame business decisions explicitly in a systematic manner by considering relevant factors based on context, applying the right technology and techniques for the specific situation, and circumstances. As a result, at scale it ensures the quality of their business decisions does not degrade.

#decisioncentric

Posted here.

Published April 16th, 2024 at 07:30 am