Decision Intelligence News
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Decision Intelligence News
AI/BI/CI/DI: Decision intelligence (DI) solves the world's most complex problems by connecting actions to outcomes.  It connects collaborating human decision makers to knowledge and also to technologies like machine learning, AI, deep learning, visual decision modeling, complex systems modeling, big data, predictive analytics, UX design, statistical analysis, business intelligence, business process management, causal reasoning, evidence-based analysis, and more. See https://en.wikipedia.org/wiki/Decision_Intelligence. For an overview, see the webinar at http://youtu.be/XRTJt3bVCaE, http://www.lorienpratt.com, and the Decision Intelligence group: http://www.linkedin.com/groups?gid=205078.   Also, my company offers DI and machine learning consulting services.  See http://bit.ly/1X8O2zF to learn more.  Don't miss the latest DI news! Sign up at subscribe.decisionintelligencenews.com.
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Scooped by Lorien Pratt
December 16, 2022 4:24 PM
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Decisions Without Blinders

Decisions Without Blinders | Decision Intelligence News | Scoop.it

"In this article, we’ll examine the phenomenon of bounded awareness—when cognitive blinders prevent a person from seeing, seeking, using, or sharing highly relevant, easily accessible, and readily perceivable information during the decision-making process. 'The information that life serves is not necessarily the information that one would order from the menu,' notes Dan Gilbert of Harvard University’s psychology department, 'but like polite dinner guests and other victims of circumstance, people generally seem to accept what is offered rather than banging their flatware and demanding carrots.'...

It’s important to note that bounded awareness differs from information overload, or having to make decisions with too much information and too little time. Even when spared a deluge of information and given sufficient time to make decisions, most individuals still fail to bring the right information into their conscious awareness at the right time."

Lorien Pratt's insight:

This article provides an in-depth exploration of bounded awareness and its detrimental effects on decision making. It provides a number of techniques to break out of the limitations of bounded awareness thinking,  including “unpacking” a situation, sharing unique information, broadening focus, and asking "Why Not?" DI provides a methodology and framework for employing these and other techniques to remove blinders from decision makers.

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Scooped by Lorien Pratt
November 8, 2021 4:53 PM
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DI: A Competitive Differentiator for Banking

DI: A Competitive Differentiator for Banking | Decision Intelligence News | Scoop.it

"Gartner’s report also highlights ‘decision intelligence’ as a key area of focus for banks in 2022, predicting that by 2023, more than a third of large organizations will have analysts practicing decision intelligence, including decision modeling. It states: 'Decisions can be influenced by a multitude of experiences and biases, but in a world of rapid change, organizations must make better decisions, faster. Decision intelligence improves organizational decision making by modeling decisions through a framework. Fusion teams can manage, evaluate and improve decisions based on learnings and feedback. Integrating data, analytics and AI allows the creation of decision intelligence platforms to support, augment and automate decisions.'”

Lorien Pratt's insight:

We've seen an increased interest in DI from financial institutions in recent years, and now consider it an early adopter market for this important technology.

For banking in particular, DI strengthens the connection between the technology stack and bank executives, traders, and clients. It creates repeatable, reusable, shared mental models for understanding and effectively using technology, from the users’ point of view.

 

Learn more >>

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