Data science + AI + insight = decision intelligence.
Gartner identified decision intelligence as a top strategic technology trend for 2022.
Imagine a world where data is democratised. With decision intelligence, that world’s a reality.
Decision intelligence helps move key levers, including profit, costs, conversion and loyalty.
What is decision intelligence?
Decision intelligence is the commercial application of data science and artificial intelligence. It enables joined up, customer-centric decision making across multiple business areas.
In the world of retail, decision intelligence impacts product range, pricing and promotion, marketing and media, eCommerce and supply chain decisions. Decision intelligence helps retailers and brands compete – and succeed.
How will decision intelligence revolutionise retail?
Commercial success lies in great decision making.
Currently, retailers are struggling to create value from an explosion of data. There’s a chronic global shortage of data scientists and AI specialists, so hiring people to make sense of that data is tough. This is compounded by outdated and inaccessible data science platforms, plus a historical over-reliance on expensive point-in-time analytics.
Decision intelligence puts insights into the hands of business users. It democratises data and breaks down siloes.
From a retail perspective, it helps automate business intelligence and associated actions. Crucially, though, it augments human decision-making – rather than taking over the process.
Gartner anticipate more than a third of large businesses will be employing decision intelligence within the next two years.
How does decision intelligence apply to retailers and brands?
Success in retail relies on consistently making great commercial decisions across five key areas: product assortment, pricing, marketing, merchandising and supply chain.
Decisions in these areas are interlinked. For example, if you change your range, it impacts price perception. If you change your marketing, it impacts availability.
Decision intelligence embeds real-time analytics throughout the decision-making process. It impacts commercial results – including profit, operating costs, conversion, and loyalty.
What data is needed to get started?
Decision intelligence is ideal for industries collecting lots of data – like retail. It uses customer, product and click data to join the dots and create valuable insight for businesses.
Chances are, you already have reams and reams of this kind of data. Perhaps it’s owned by your data science team. Or perhaps it’s spread across your business – in marketing, sales, finance or leadership teams.
Our decision intelligence platform can connect to data warehouses, databases, cloud storage or Google Analytics.