A Quick Guide To Decision Intelligence

 
Team ThunderAct

Buyer behaviors and market trends constantly change. With technological advancements, we have witnessed the rise of digitization in businesses. The impact of the COVID-19 pandemic has accelerated the shift, which means more companies have become interested in using technology to keep their customers happy.

 

A common issue is a need for split-second decisions to address issues and provide a fast and seamless customer experience. However, despite the digital transformations we see across industries, many business entities still have not adapted to the times when it comes to decision-making. Many still believe that only a human can form a sound judgment for an organization. The problem with this is the possibility of inconsistency and inefficiency.

 

That is what decision intelligence aims to address.

 

What It Is


Nowadays, data is one of the most important factors necessary in providing good customer service. So, companies must know how to use these to their advantage.

 

Decision intelligence serves as the bridge that will connect the data to better decision-making. It analyzes cause and effect to ensure that decisions are based on how actions result in outcomes. 

 

Meeting customer demands is crucial in business. Decision intelligence empowers companies to make data-driven decisions in real-time.  

 

Generally, it is a decision model. It frames various techniques to incorporate traditional disciplines with advanced ones. Its application allows an organization to structure its decision-making processes using artificial intelligence (AI) and machine learning (ML) algorithms.

 

The Three Disciplines Involved


Decision intelligence uses data science in addressing a business problem. Stakeholder behavior is necessary to influence decision-making. To better understand what it is, it may help to learn the basics.

 

Aside from data science, decision intelligence includes two other disciplines. These are social science and managerial science. The combination of the skills and principles from these three enables better decision-making.

 

  • Social Science – Decision-making relies on your understanding of the end-user. You need to know how your customers think, act, and feel. This way, you can get accurate and relevant data. Then, tailor the insights based on the context.

 

  • Data Science – The next step is to ask the right questions. That is where data science comes in. You need to make sure that your insights are useful and that they will be able to lead to action.

 

  • Managerial Science – After getting actionable insights, you will have to make sure that the involved stakeholders will adopt the solution. For instance, you can change the way your team functions. You may also adjust certain processes. 

 

Reasons to Invest in Decision Intelligence


There are many benefits companies can gain from investing in decision intelligence. Among the major ones are:

 

  • More accurate decisions for better outcomes
  • Faster decisions
  • Elimination of errors, such as biases
  • Accommodation of benefits that come with human judgment

 

To learn more about decision intelligence and customer data analytics, check out ThunderAct’s blogs. If you want to get started, talk to our team at ThunderAct.

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