🛑STOP working on #AI #ML projects whose success metrics are unclear.
🚩Guess what! The success metrics of AI/ML projects do not appear from thin air. If your AI/ML project success is not clear, that simply means you do not provide business value to the organization. It has nothing to do with your AI/ML accuracy, technical details, #data, training set, techniques, and #algorithms.
🤔What should you do? Metrics should always be related to business operations that are guided and influenced by business decisions. This is the only way to ensure your project will receive support from the business and help the organization meet its objectives.
How do we define the AI/ML project metrics? #decisioncentric
1️⃣ Understand the business operation
2️⃣ Identify the business decisions related to that area (or value chain)
3️⃣ Decompose the complex business decisions into smaller, more understandable decision units.
4️⃣ Define the metrics for those units that collectively create the KPI for the business decisions.
Now, the team can apply AI techniques and technology to those decision units using #rules, #machinelearning, #optimization, and other relevant choices.
⛳The advantage of this approach is that it forces you to think about the business operations and model the business decisions that influence them. It will establish the blueprint of the business operation. Then, use this blueprint to define your projects, and this guarantees that not only the success metrics are clear but also highly correlated to business operations. Additionally, you have a clear plan on what to improve that has the most significant impact and creates meaningful business values (No more type 3 errors).
🚀This is called a “Decision-Centric Approach”, which enables the team to create a holistic view of business decisions that influence business operations. Therefore, it ensures success metrics are clearly defined and based on business operation KPIs, and you will get buy-in from executives so your project gets the 🟢green light and 💵budget.
#decisionintelligence
Posted here.
Published April 11th, 2024 at 07:30 am
