Unlocking the Power of Decision Intelligence: What is it and Why Does it Matter?

Explore the world of decision intelligence tools and learn how they can revolutionize the way you make decisions.

Decision Intelligence (DI)

In today’s data-driven world, the ability to transform data into actionable insights has become necessary for businesses to maintain a competitive edge. Today's business leaders agree that data is crucial in decision making, however, there is a lack of the ability to quickly and efficiently analyze this data. Decision intelligence enables any organization to easily manage and analyze large volumes of data. Decision intelligence utilizes AI (artificial intelligence), Machine-Learning technologies, data fusion, and collaboration tools to drive decision making. 

The Process
When using DI, it is important to define clear goals before navigating large volumes of data. For example, a brand might define DI goals of identifying customer trends, tracking customer feedback, and personalizing market strategies. A publisher could set a goal of tracking reader preferences to customize content. Setting defined goals ensures that the data and tools support decision making. Defined goals improves resource optimization, budget allocation, and continuous learning to refine strategies.

Next, DI takes any media (audio, photo, text, video, etc) and fuses this into assigned groups based on the defined objectives. Once these groups are defined, machine learning tools are used to find patterns and similarities within the data. These results can be used to collaborate among teams. For example, these insights are vital in creating reports and personalizing campaigns. Finally, these results provide actionable insights to make strategic decisions. 

Challenges Facing DI 
Data Prepping: Consolidating large volumes of data that come from different sources is a complex process. It involves cleaning, transforming, and integrating data to ensure quality and consistency. This process can be time consuming and resource intensive. 

Data Fusion: the process of combining data from multiple sources to extract meaningful insights—poses its own set of challenges. Ensuring data accuracy, resolving inconsistencies, and managing data redundancy are just a few hurdles organizations must overcome. Despite advancements in data integration technologies, achieving seamless data fusion remains a complex endeavor for many organizations.

Privacy: Another challenge facing DI are concerns on the collection and use of personal data. Ensuring compliance with data protection regulations, protecting personal information, and respecting privacy rights are essential in the development of DI solutions. Additionally, organizations must bear responsibility for ethical implications. Finding the right balance between data-driven insights and privacy protection is a crucial aspect of DI implementation. 

Key Components of Decision Intelligence
AI: Decision intelligence leverages AI tools to automate decision making processes, extract intelligence from media, and define insights. AI is a helpful tool that empowers companies to enhance insights, and create more informed decisions.

Machine-Learning (ML) Analytics: Decision intelligence platforms utilize machine learning platforms as they provide the data needed by data science teams. ML analytics also simplifies the data collection experience so that non technical users can analyze the data and find insights. 

Data ingestion: Decision intelligence platforms use data ingestion technology to collect data sets and combine them into uniform data sets that can be quickly analyzed. Through the process of entity resolution, data points are grouped together based on similarities. This is similar to assembling a puzzle. Each data point represents a piece of the puzzle, and when put together, there is a clear picture that shows the relationship between each piece (or data point).

Key Capabilities: 

• Fusion of all data
• Management of large data volumes
• Creation of profiles for all entities of data
• Automated analytical insights 
• Improved collaboration between teams and organizations

Want to make the process of data prepping easier? Dive into SCUBA today and unlock the power of a trusted collaborative decision intelligence platform fueled by sophisticated simplicity. Speak with an expert now