Decisions have an indelible impact on our lives. Whether making business or consumer decisions, sometimes we only get one chance to get it right.
However, obvious contrasts among choices are rare. Decisions can get mired in those areas of nuance that compete for prioritization. Choosing a place to live based on weather means you’re probably overlooking other important factors like job opportunities, the cost of living, walkability or proximity to outdoor activities.
These are tradeoffs, and balancing tradeoffs in the decision-making process is critical to reach the best possible outcome. The Decision Cloud platform, a system based on the principles of Decision Intelligence, is built to help enterprises and consumers clarify and balance each factor affecting even the most complex decision. The platform’s tradeoff process illuminates the natural intuition and cognitive aspects of human decision making. By visualizing each criterion, the decision-maker is presented with a more clear reflection of the tradeoffs that might otherwise be clouded by a sole reliance on gut instinct.
Think of it this way. The Decision Intelligence-based Decision Cloud mimics the way the human brain filters choices and criteria — by making tradeoffs. For instance, rather than requiring a business decision-maker to choose to search within a specific price range, among a certain set of locations, or within a defined group of vendors, DI allows her to prioritize a wide array of criteria on a sliding scale, resulting in a nuanced approach to uncovering the best decision.
Consider these scenarios:
- Picking the best location for a new office is a difficult task for any executive, but Decision Intelligence can assist in site selection by weighing the options and calculating tradeoffs among factors such as ideal square footage or the presence of complementary businesses.
- A purchasing manager evaluating proposals from air conditioner manufacturers can balance a variety of factors that standard business intelligence systems requiring filtering by eliminating options simply can’t handle. A DI-based system, on the other hand, enables balanced prioritization of criteria such as warranty life, price, potential maintenance costs, analysis of quality and durability, even affinity for particular brands.
- If a student is trying to choose a college, he might consider tuition costs a higher priority than proximity to a vibrant economy. Meanwhile, choosing a university that ranks higher for a field of study might be more important than the cost of living.
The Decision Cloud facilitates these choices by empowering users to set the relative importance of various search criteria. The platform makes sense of the connective elements of each decision by recognizing not only the significance of each factor, but over time gauging the decision-making behaviors and perceived biases of individual users.
The DI-based Decision Cloud can help enterprises and individual consumers achieve greater confidence in their decisions by transforming how they think about every element of the process, ultimately leading to smarter and more enduring decisions.