Looking backwards isn’t going to help. This is what you need to understand about decision intelligence.
You probably work really hard to:
- reach your business goals
- increase revenue
- manage the impact of severe external challenges like inflation and war
At Ignize we have an important message about business predictions: It’s time to stop looking backwards in search of the future.
Understanding data, external as well as internal, is becoming more and more critical for businesses to succeed. Meanwhile, the BI and financial reporting systems that companies rely on for managing their operations have inherent limitations. One of them is that they focus too much on what has already taken place.
State-of-the-art decision making is powered by machine learning. It’s called decision intelligence, one of the top technology trends today. Gartner predicts that 33% of large organizations will be practicing decision intelligence by 2023.
And what is decision intelligence? It’s a new academic discipline that brings together data science with social science, decision theory and managerial science. The goal is to analyze chains of cause and effect to improve decision-making in organizations.
Decision intelligence is using AI and machine learning to give decision-makers the best possible basis for successful action.
The difference between business intelligence and decision intelligence is, in short: action. Being able to act on market dependencies and developments before your competitors has even observed them means getting ahead of competition.
That’s why we say that action is the real measure of intelligence.