Moving from decision making to action
Forward-thinking CEOs have embraced business intelligence tools and big data, and many are considering how they can utilize artificial intelligence (AI) and predictive analytics. But analysis alone doesn’t always go far enough. To catch up to industry leaders like Amazon, Netflix, Google and others, I believe executives need to think beyond analytics and move toward the automation of decisions and resulting actions. This part of the Analytics Spectrum is what Gartner calls decision automation. As the CEO of a pricing decision software company, I know decision automation isn’t for every company — but if you have large quantities of clean data and intensive business processes that involve repetitive, predictable tasks, it may be for you.