Decision Intelligence is the commercial application of AI to the decision making process and is outcome-focused to deliver on commercial objectives.
Decision Intelligence is tipped by Gartner as a key strategic trend for 2022 and the market is expected to grow to $17bn by 2027 (ReportLinker). It’s AI with a purpose, powering data-driven decisions across a company that lead to growth, profit, efficiency and sustainability.
Organizations are drowning in data and decision making is getting harder. To succeed, businesses need to be able to make sense of their data, find the right signals amongst the noise and cut through the complexity.
Peak is a platform for building Decision Intelligence apps, enabling the application of AI to commercial decision making. Here the company offers insight into the opportunities surrounding DI.
Decision Intelligence: the opportunity
As with any type of data or digital transformation project, you need to make sure you understand the full potential of what Decision Intelligence can offer before you dive straight in. Every decision matters. These could be marketing decisions, strategic decisions, supply chain decisions or inventory decisions. DI enables you to make the right call, every time, to optimise your growth, your efficiency and your sustainability. And not just in one team or one department, but everywhere – throughout your entire value chain. With DI, you can start to join up your whole business, break down silos, connect your existing systems and serve your customers in a whole new way. That said, don’t be overwhelmed; start small but always think big.
“By 2024, 75% of organizations will shift from piloting to operationalising AI.” Gartner
AI vs DI: What’s the difference? AI is the theory and development of algorithms that can perform certain tasks traditionally only humans could do, such as decision making, language processing or visual perception. Decision Intelligence is a practical application of AI specifically to the commercial decision making process – it provides recommended actions that address a specific business need. It’s always commercially focused and powers business decision making. For example, an AI might be an algorithm that predicts future demand for a set of products, but this only becomes DI once a merchandising team can use an interface to make buying decisions based on this prediction.
To fully benefit from DI, make sure you’re following these three steps to success: • Join up disparate data, bringing it together from across your organization to gain a unified, holistic data set that’s AI-ready (spoiler: we can help with this.) • The next step is to create intelligence on top of your data; your own AI, tailored to your business (because every business is different.) • Once you’ve created that intelligence, you need to be able to interface with it – making it accessible for everyone in your company to drive decisions. You’ll need a platform to make this a reality.
“Companies that haven’t made progress with Decision Intelligence will feel the same effects as those in businesses that were late to move online.” IDC
Build what you need to, and work how you want to – but always stay focused on delivering real commercial outcomes from Decision Intelligence. Peak is set up to cater for you no matter where you are on your AI journey. We’re here to help you deliver DI in a way that works for your team, from self-building your own solutions on the Peak platform to co-creating intelligence alongside our customer success and data science teams. If you’re not quite there on the journey just yet, you can immediately leverage our fully Peak deployed solutions; ready-to-go and configured to meet your business’ needs. And, as your internal DI capability develops, we can help with a smooth transition once you’re ready to roll on the platform independently. It’s a partnership, a journey to embark on with a trusted partner. One that, done right, will yield results for years to come.
“By 2023 a third of large organizations will have analysts focused on Decision Intelligence.” Gartner
