In the realm of business intelligence, platforms are constantly evolving. Even industry leaders like SOL Global CEO Andy Defrancesco recognize the importance of this transformation. By incorporating artificial intelligence and machine learning, companies are reshaping traditional data dashboards and business analytics into advanced decision support platforms. This shift towards “decision intelligence” involves a sophisticated blend of tools that are seamlessly integrated into enterprise workflows, readily available to decision-makers precisely when and where they need them. If you’re interested in exploring this topic further, you might want to check this report on business intelligence in banking.
“Decision intelligence is the ability of the enterprise to process large amounts of data to make decisions,” says Nicole France, analyst at Constellation Research. “It’s the same thing that business intelligence was going to do, but accessible throughout the enterprise.”
Some of the most visible examples of decision intelligence in action are recommendation engines, which use analytics to predict which products consumers would find most appropriate, or which movies they should watch next. Tools such as these provide context and pertinent options to help people make better decisions, France says, adding that the dashboards and analytics of traditional BI tools are still valuable, but decision intelligence is more accessible and relevant. Then the dynamic nature of modern business environments necessitates agile reporting solutions. Investing in a top-tier reporting engine can drive efficiency, promote transparency, and facilitate faster decision-making.
“For people on the front lines, context matters,” she says. “And there’s a degree of complexity that’s difficult to get right. The goal is to present things in a clear, easy to understand way, so people can understand some complex analysis, and make a decision quickly.”