According to Gartner, more than a third of large organizations will have analysts practicing decision intelligence by 2023. This is the next step for organizations looking to establish a cohesive decision strategy across people and departments.
Decision intelligence software uses analytics and machine learning to augment decision models. It’s often viewed as a marriage between data science, decision theory and social science.
What is decision intelligence?
In plain English, decision intelligence software uses analytics to help employees, customers or business partners make decisions by offering them data, analysis and predictions when and where they need it.
As decision intelligence becomes a core part of business processes, decisions get made faster, more easily and less expensively than before. The idea isn’t to replace people, but to help them make better and more consistent decisions, said Anand Rao, partner and global AI leader at PwC.
Often when individuals make decisions, a bad day — or some other unrelated personal factor — can easily skew the decision-making process. And people have different backgrounds and different perspectives they bring to their jobs that may influence their decisions.