Why Decision Intelligence Platform and What are Its Must-have Capabilities?

A Decision Intelligence Platform aims to Empower Organizations to Manage, Execute, and Deploy Semi and Fully Automated Decisions of All Kinds.

Decision automation is generating a lot of buzz, especially with the emergence of various techniques and technologies that are carefully designed to help adapt AI seamlessly across multiple organizations and industries. However, still nearly 85% of AI projects have failed to meet business objectives.

Here is another fact, less than 10% of AI pilot projects will be productionized. In terms of investment, organizations spent a whopping 37.5 billion on AI projects in 2019. A close look at this reveals an investment of more than 33.7 billion dollars for projects that won’t bring any business value whatsoever. ?

These reports and stats clearly show the gap between business expectations from AI investment and expected ROI from AI-driven investment initiatives, particularly in decision automation projects.

Fortunately, organizations can change this narrative by adopting a decision intelligence platform. The main objective of a decision intelligence platform is to bridge the gap by providing businesses access to a unified and extensive platform that features all the unique requirements of decision automation, specifically to support full and semi-automated business decisions.

To have a robust decision intelligence platform, especially one that provides the next level of intelligent automation, the platform should be designed to allow organizations to seamlessly apply decision automation across different levels and various use cases.

To empower organizations to handle all possible decisioning situations, i.e., from semi-automated to fully automated, either for probabilistic or deterministic uses-cases, the decision intelligence platform must be designed in such a way that it carefully combines process automation, data and analytics, business rules, robotics and of course, machine learning technologies. More so, the decision intelligence platform must also provide an opportunity for human intervention when necessary, either for stateless or stateful decision-making processes.

Operational Decision

Regardless of the technology deployed for the automation of business decisions, there will be a need to have a thorough?understanding of how the new and existing operational decisions work and how they impact business operations. To this end, it is critical to ensure that both operational decisions and decision modeling are considered part of the decision intelligence platform.

Business Rules

When considering a decision intelligence platform, remember that modeling, understanding, and automating business rules are critically important. However, it is essential to note that business rules are an integral part of organizations, and to provide a robust solution to decision automation; it needs to be part of the decision automation projects. Please note, not only laws and regulations but even corporate internal and external policies and procedures are the basis for defining and managing the business rules as part of a cohesive decision automation model.?????

Data and Analytics

When talking about data and analytics, most people think of dashboards, gauges, and graphical user interfaces, essential for communication and display insights. But guess what? Data and analytics are more than just fancy dashboards, especially when it comes to decision intelligence platforms. Data and analytics is the ?????capability to collect, receive, and connect to a variety of data sources. Essentially, it should enable organizations to share the required structure from the collected raw data for decision-making.

Machine Learning

Machine learning provides us with a unique opportunity to learn from data, identify patterns, predict and categorize cases with certain?of accuracy. To this end, it’s easy to see why ML is an integral part of decision automation and decision intelligence platforms. By leveraging some of Machine learning techniques for rules mining organizations can change their approach from probabilistic to deterministic models????.

Decision Robotics

Part of decision automation requires close interaction with systems, applications, forms, and accessing data from within the very core of an organization's existing solutions and processes. Keep in mind that these requirements will involve introducing human manual touchpoints during decision automation when people need to interact with UI to gather data, or reflect results of decisions into systems.. Decision robotics will help to address this challenge by seamlessly automating the manual touch points as part of the overall solution by mimicking human interactions.

Business processes

Business processes will robustly orchestrate pre and post activities related to decision automation. It will also help coordinate different components interactions while enabling human intervention as part of the decision intelligence platform. Therefore, process orchestration is an essential aspect of the decision intelligence platform.

The DECISION-CENTRIC APPROACH?

Most of the things we have discussed regarding the decision intelligence platform’s point of view are closely related to technology and tooling. And for sure, that's not enough, and here is why. A decision intelligence platform will mostly combine multiple mindsets and techniques to deliver a project. However, a methodology ensures the alignment to business values, addresses what to make, how to make it, and what to deliver it is just as important as the tooling. And since the platform is about decision automation, it's no surprise to see the decision-centric approach helps organizations to close the gap between technology and business objectives/values.

Conclusion

To wrap things up, you must understand that neither of these is important if the solution cannot deliver the real business value. Here is what we mean: if the solution, for instance, doesn't change organizational behavior or shows little or no impact on business operations, then it will result in many questions like why are we doing this in the first place? This highlights the importance of the DECISION-CENTRIC APPROACH?.