It’s nice to see Decision Intelligence making waves. The subject of what we like to call DI here at Element Data was top of mind last week at the AI Decision Making Summit event held by Prowler.io in Palo Alto. There some of the top minds driving the sector spoke about issues including computational neuroscience, probabilistic modeling and AI simulations for regulatory decision-making.
We were especially pleased to see Lorien Pratt, PH.D. and chief data scientist at machine learning and Decision Intelligence firm Quantellia discuss DI in her presentation. Pratt, like Element Data, is a big proponent of DI, and called on attendees and people in this burgeoning field to “reduce the friction between tech and decisions.”
Pratt also referenced the conversation we’re starting here in the Element Data blog about why intelligent data-support decisions need the human touch. As we’ve noted, while most technologies geared toward using data and analytics to improve on human capabilities remove the human element entirely, they should incorporate human intuition into the decision support process. This way, these systems can complement the human approach to decisioning rather than making business or consumer decisions for us.
Indeed, for us, this humanistic hybrid approach is Decision Intelligence in a nutshell.
What’s fascinating is to see the variety of ways companies are interpreting and applying DI while still playing in the same sandbox so-to-speak. One of the DI applications Pratt’s firm is focused on is understanding the future outcomes of decisions. Here’s how they put it on their site:
“But when it comes to making decisions, data is only part of the picture. Once you make a decision and execute on it, this creates a cascade of events within your organization. Understanding how the decision leads to an impact…and another…and another…until you’ve reached your objective (or not) may sound like a daunting proposition. But here’s the rub: you’re doing it already, in your head, every time you think through the consequences of a decision.”
It’s exciting to see the Decision Intelligence sector taking shape, and we agree with Pratt that education and collaboration are key to advancing this important work.
— Team Element Data