Decision intelligence provides you the superpower to make judgments having significant commercial impact
The term “Decision Intelligence” refers to the use of Artificial Intelligence (AI) to make decisions that are more intelligent to advance your company’s growth in the fields of sales and marketing, supply chain management, and demand planning, among others. It employs currently organized or unstructured data in conjunction with algorithms to create new data that is believable. Decisions can be based on information from the past and predictions for the future. Machine Learning (ML) teaches via examples, as opposed to the conventional method where direct instructions are given to the computer. The choice is improved in this way by making it more descriptive and predictive.
Enterprises are employing decision intelligence solutions to help streamline and expedite decision-making across a wide range of sectors and use cases, even though adoption is still in its early stages. Discover how businesses across a variety of industries are utilizing decision intelligence tools to become more data-driven, robust, flexible, optimized, and cost-effective.
- Banking & Finance-Financial service companies use decision intelligence to process credit applications for loans like mortgages and auto loans. Powered by AI, it can use a customer’s credit score, income, or other data to determine their eligibility for a certain service. Morgan Stanley is one eminent financial institution that helps its clients make smarter investment decisions by utilizing in-house financial advisors and cutting-edge decision-making tools. Decision Intelligence is the technology behind their wealth management system.
- Commerce- The capacity to predict better pricing for particular categories of goods based on external data such as client demand, trends, supply chains, and moods is one of several straightforward yet very important decision intelligence application cases for shopkeepers and merchants. Remi AI, for instance, is software that helps retailers make better pricing decisions by adjusting their pricing structures to the liquidity and expectations of their customers. As a result, their supply chains are optimized, and revenue amounts become more dependable.
- Energy Sector- Athena AI software is noteworthy in terms of decision intelligence application cases in the power sector. By automating decisions about energy consumption and expenditure, this technology helps customers and clients better manage their energy resources. Additionally, it predicts solar energy production and modifies the capacity of batteries accordingly. Bring up an interesting case study. One of the largest power distribution firms in Sweden, Ellevio, hired Infopulse to create artificial intelligence decision-making software. Ellevio’s thinking machine helps them produce better-informed reports, organize and analyze company data from seven different sources, and make more informed decisions.
- Environmental Sector- Although they are global problems, ecological problems, environmental deterioration, and the natural disasters they cause also present major risks to businesses on a smaller scale. One benefit of decision intelligence is its capacity to recognize potential risks based on historical and current data and to provide response, mitigation, and risk management solutions utilizing AI. A source of worry is the artificial intelligence (AI) decision-making platform, which enables organizations to research and stay up to date on the potential risks of environmental disasters. Based on the examination of the final climatic data, they can also make better business decisions.
- Healthcare- Data analysis and decision-making are widely used in the healthcare industry to help clinicians diagnose, evaluate, and work with patients. It is feasible to improve medical outcomes via decision intelligence. Medical personnel can evaluate medical imaging data more rapidly, suggest diagnoses, and help doctors prioritize patients to improve medical outcomes thanks to decision intelligence technology.
Businesses may choose more effectively and quickly when it comes to crucial business tasks by utilizing AI-powered business intelligence solutions. Thus, businesses may not only reap the full rewards of having a data-driven employee but also take into account the broadest possible range of pertinent information when deciding the best course of action.