The applications of decision intelligence and AI offer businesses a structure for decision-making
Decision intelligence is a trending field that contains a range of decision-making methods to design, model, align, execute, and track decision models and processes. The implementation offers a structure for organizational decision-making and processes with the integration of machine learning algorithms. The main idea is that decisions are based on our perception of how actions lead to outcomes. Here are top applications of decision intelligence and AI in business.
In traditional decision-making processes, the unpredictability and complexity of global organizations were not considered. There is exponential growth potential, and these old models become unsustainable. Decision intelligence helps your organization evolve with decision-making using advanced technologies like ML, AI, Natural language queries, intelligent apps, and more to create comprehensive platforms.
Here are the top 7 applications of decision intelligence and AI in business-
A More Progressive Decisions
Decision Intelligence combines a variety of decision-making techniques with artificial intelligence, automation, business intelligence, and forward-thinking decision-makers to drive meaningful impact on your organization and achieve a higher return on your data and advanced technology investments, giving you the opportunity to gather actionable intelligence that powers more progressive decisions.
Identification of Risks and Specific Recommendations
Decision Intelligence systems can help companies look ahead with greater ease and confidence. DI platforms can identify risks and make specific recommendations for taking action to avoid damaging business impacts. And if a dynamic event disrupts your supply chain, DI can be used to take action to successfully address the situation immediately.
Management of Stock
By using Decision Intelligence, you can manage your stock with more predictable success. DI technology is excellent at predicting when products are about to become hot or cold, when your margin has or hasn’t reached a point where changing your stock makes sense, and otherwise syncing up your supply with consumer demand.
Unbiased and Accurate Insights
Decision Intelligence eliminates the need for long conversations. With a DI platform, you have a nexus of truth that everyone on your team can refer to and trust. You know that the collected insights generated are unbiased, accurate, and reliable. This allows you to act faster and reduces conflict within your team.
Improving Sales and Marketing
Artificial Intelligence solutions like machine learning can perform algorithms at the customer’s data gathered in the form of datasets. It identifies the ideal customer profile and matches it with the third-party data to create a target list of prospects for the marketing team. The strategy helps identify specific customer preferences and complements their needs.
Enhancing Supply Chain
An AI application can analyze the company’s ERP data, including current suppliers, POs, invoices, payables, etc. It compares the company’s information with third-party data to give you insight into your supplier ecosystem. The application ranks suppliers and figures out where you can negotiate better discounts. It creates models to help your company optimize procurement processes.
Deploying Digital Assistants or Chatbots
Conversational AI is one of the trending improvements that business organizations adopt to fast-track their growth. It is well known that people hate waiting on the phone line for a long time before an employee could pick the call and hear out the queries. Digital assistants and chatbots fill the waiting time and give quick solutions by engaging directly with the consumers.