Getting started with Decision IntelligenceBy Jon Taylor on February 25, 2021
First things first, let’s talk about what we mean by Decision Intelligence. Decision Intelligence is the commercial application of artificial intelligence (AI) to drive profit and growth for businesses.
And, as you might have guessed, it’s what we do at Peak. It allows our customers to make faster, more accurate, more consistent decisions, all the time. And it does this by leveraging a business’ number one asset – its data – and unlocking the value within it, using AI.
Sounds fancy, right? It also maybe sounds a little bit complicated, too. But fear not – it’s a lot more straightforward than you might first think.
If you’re reading this article, it means that the idea of making quick and effective AI-powered, data-driven decisions with Decision Intelligence sounds at least a little bit appealing. But you’re probably now thinking about how it relates to your business, and how you’d actually be in a position to get started.
To help you out, we’ve pulled together a few high-level hints, tips and best practices that your business should pay attention to if you’re considering getting started with Decision Intelligence. Consider them handy steps to success…
What’s the endgame for your business?
Decision Intelligence sorts data and makes predictions from it, on a scale and at a pace that’s beyond human capability. You can use it to make better decisions and solve some of your most complex problems. However, as with any type of business transformation project, you need to have a clear idea of exactly what you want to achieve with Decision Intelligence before you dive straight in.
Do you want to improve marketing campaign effectiveness? Optimize stock at a store or branch level? Increase the efficiency of your logistics operations? These are all viable options with Decision Intelligence, but be sure to keep clear and measurable business outcomes at the top of your agenda – and know what you want to achieve with the technology in advance.
With Decision Intelligence, we believe we’re one step closer to creating a game-changing proposition for all of our customers.
Managing Director, AO
Trust your data
We hear this one a lot. Businesses know they need to be doing more with their data, like the sound of using AI, and understand the benefits of Decision Intelligence. However, years of working in siloed systems means that their data is messy and scattered around; leading many to believe that they’ll need to spend a lot of time getting it up to scratch before they can actually get going. But, 99% of the time, this isn’t the case. Don’t let fear over the state of your data be a barrier to getting started – it is good enough, we’ve done this before, and we know how to drive value from it.
Becoming Decision Intelligence-driven means that you can break down organizational and data silos – leveraging data from anywhere, regardless of the state it’s in, and eliminating all those troublesome silos between systems and functions within your business. From here, you can apply AI to your new and improved data to create a holistic, predictive view of your products, your customers, your supply chain – the whole shabang.
Using this intelligence, you can make faster, more consistent decisions over complex data, all the time – transforming decision making across your whole organization. Long story short: your data is good enough, so put your trust in it, and use it to power your strategic decision making.
Whoa there! Don’t rip and replace everything just yet…
Yes – let IT teams around the world rejoice! Providing you choose the right partner and the right platform, introducing Decision Intelligence into your business doesn’t mean having to scrap all of your existing business systems and building everything again from scratch.
A Decision Intelligence platform, like Peak’s, should have the capability of powering Decision Intelligence across your entire value chain, without replacing things like your existing marketing, ERP, CRM and logistics systems – the list goes on. You can find out more about our platform here, but in short, it’s a centralized platform that connects with other business systems, leverages standard data models and solutions that can be tailored to your needs, and powers outcomes across the whole business. It does this quickly, with a focus on immediate results and short time-to-value. No lengthy, arduous 12-month transformational IT project required. It’s very, very cool.
By harnessing Peak’s segmentation power, it’s enabling us to add new levels of efficiency into our digital marketing, with impressive outputs.
Head of Digital Marketing, PrettyLittleThing
“Isn’t it all a little complicated, though?”
Sometimes businesses will be a bit hesitant to introduce AI into their decision making because they don’t fully understand how the technology works and what it can do. Or, they may think that it’s perhaps too much of a black box to trust!
Decision Intelligence, though, has been created with explainability at its core, with a clear focus on keeping things straightforward and accessible to every business. You don’t need to be a tech giant to leverage the benefits of data-driven decision making. We’ve made sure that our offering combines technology, industry knowledge, and skills to make Decision Intelligence accessible for you.
Enjoy all that lovely free time
The more data you take into account in your decision making, the better the decision. For people, this takes time, but for Peak, it doesn’t. So, think about all that extra time you’ll now have to play with in your day-to-day; to focus on strategy, or to explore some more creative avenues. The choice is yours!
The whole point of Decision Intelligence is that it gives teams more time to work on the outcomes of a decision, rather than trawling through spreadsheets in a bid to make the best decision themselves in the first place. It’s a real game-changer in terms of giving back time to your teams.
Hopefully a quick read of this article has made getting started with Decision Intelligence seem a little more tangible, and sounds like something you’d be able to effectively introduce in your own business.
If you want to dig a little deeper, you can find some more hints, tips and tricks in our How to get started with Decision Intelligence guide. Download your copy here. ?
Further reading on Decision Intelligence
? Read Peak CEO Richard Potter’s exclusive interview with TechCrunch to learn more about Decision Intelligence
⬡ Discover Peak’s vision for Decision Intelligence as a new category of software
❓ So, what is Decision Intelligence, anyway? Find out in this blog by Peak’s Head of Product Marketing, Tom New