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Decision Intelligence: the business decision-making revolution

Decision making Causal AI Company Digitalisation Artificial Intelligence Big Data
Business Man Making the best decision

In previous articles we have often talked about decision-making, both from a psychological and strategic perspective, but, in general, the topic of decision-making is increasingly central to the business world, so much so that it has led to the emergence of a new approach, Decision Intelligence. Decision Intelligence (DI) is an innovative approach that combines data, algorithms, and advanced technologies to support and improve decision-making processes within companies. It integrates disciplines such as artificial intelligence (AI), machine learning (ML), data analytics, and cognitive science to create a comprehensive and detailed picture of decision-making options. Decision Intelligence not only provides useful information, but also suggests the best actions to take based on a wide range of scenarios and predictions.
According to Gartner, by 2025 more than 33 percent of large organizations will have decision intelligence analysts. In addition, IDC predicts that global investment in advanced analytics and artificial intelligence technologies will reach $120 billion by the same year. These figures highlight the growing importance of DI in the global business landscape.

In what context does it emerge?

Decision Intelligence was born in a context of increasing complexity and competitiveness in the business world. With the exponential increase in available data and rapidly evolving technologies, companies need more sophisticated tools to interpret this information and make informed decisions. Traditionally, decision making was based on intuition and experience; today, thanks to DI, decisions can be based on accurate and predictive analysis, reducing the risk of errors and improving operational efficiency.

Decision intelligence: the main application areas in business

Decision intelligence finds application in numerous business areas. For example, the use of predictive analytics in Marketing and Sales enables better understanding of customer behavior, optimizing advertising campaigns and improving sales strategies. In Supply Chain Management, Decision Intelligence helps predict demand, optimize logistics processes, and efficiently manage inventory. In Finance, companies can use Decision Intelligence to assess risks, manage investments and improve profitability. In Human Resources, Decision Intelligence facilitates personnel selection, performance management and career planning. In Health Care, this technology makes it possible to improve diagnoses, optimize resources, and personalize treatments for patients. Finally, in Manufacturing, Decision Intelligence-based analytics enable the optimization of production processes, improve quality, and reduce waste.

Benefits of relying on Decision Intelligence

Relying on Decision Intelligence offers numerous benefits, each of which can have a significant impact on business operations:

  • Data-Driven Decisions: Decision Intelligence transforms the business decision-making approach, moving it from traditional intuition to a method based on hard data and in-depth analysis. This means that decisions are supported by real evidence and predictive models, reducing subjectivity and increasing accuracy in strategic choices. According to a McKinsey report, companies that use data to make decisions achieve 5-6% higher productivity than their competitors.
  • Improved Performance: Companies that adopt Decision Intelligence can continuously analyze and optimize their processes. This leads to reduced inefficiencies, increased productivity, and improved quality of products or services offered. For example, through the analysis of production data, bottlenecks can be quickly identified and resolved, thereby improving overall performance. A PwC study found that the use of artificial intelligence and advanced analytics can reduce operating costs by up to 30 percent.
  • Risk Reduction: The ability to predict future scenarios is one of the strengths of Decision Intelligence. Using predictive models, companies can identify potential risks before they materialize and take preventive measures. This reduces the likelihood of costly errors and allows them to better manage market uncertainties. Accenture research has shown that companies using predictive analytics reduce their financial risks by 20 percent.
  • Agility and Flexibility: Decision Intelligence equips companies with greater agility, enabling them to adapt quickly to market changes. Real-time information and dynamic analytics facilitate rapid response to new opportunities or threats, improving the ability to compete in an ever-changing environment. According to IDC, global investment in advanced analytics and artificial intelligence technologies will reach $120 billion by 2025, highlighting the growing importance of these capabilities.
  • Competitive Advantage: In a highly competitive market, having access to more accurate and timely information can make all the difference. Companies using Decision Intelligence can make faster and more informed decisions than their competitors. This competitive advantage translates into greater ability to innovate, improved customer satisfaction, and a leadership position in the industry. According to a Deloitte survey, 59 percent of market-leading companies view data analytics and artificial intelligence as key factors in maintaining their competitive position.

By 2025, more than 33 percent of large organizations will have decision intelligence analysts.

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