#64: Why Decision Intelligence Is The Most Important Data Analytics Trend Of This Decade
#64: Why Decision Intelligence Is The Most Important Data Analytics Trend Of This Decade
Hello,
This newsletter will take you about 4 minutes to read.
I. Spotlight: Why Decision Intelligence Is The Most Important Data Analytics Trend Of This Decade
In every organization, thousands of decisions are being made every single day. These are orchestrated across enterprise functions, geographies, and at the strategic and tactical levels. Surprisingly, research results reveal that the vast majority of these decisions turn out to be poor, ill-informed choices.
For example, a survey found that a typical Fortune 500 company wastes about 530,000 days of managers’ time every year due to poor decision-making. For enterprises, this translates to $250 million wasted in annual wages. In other words, an average employee loses 47 days annually due to ineffective decisions leading to rework, poor time to market, and lost business opportunities.
Data-Driven Decisioning
To improve the quality and impact of decision-making, business leaders are looking to build repeatable capabilities and institutionalize them across the organization. The discipline of decision intelligence (DI) is the solution they need.
Fundamentally, Decision Intelligence is the use of actionable data insights to deliver effective, impactful, and timely decisions across the organization at scale. DI is rapidly emerging as a key enabler of business performance by bringing together modern data and analytics platforms, a scalable model for decision-making, and a culture that fosters the actioning of data-driven decisions.
Gartner rates DI as a Top Strategic Technology Trend for 2022 and predicts that this discipline will be a game changer for the data and analytics industry in this decade.
What makes a decision good?
First, let’s define the three elements of every good decision. It is effective and addresses the underlying challenge. It is made on a timely basis.
II. Industry Roundup:
1. Article: The Next Frontier For Large Language Models Is Biology
14 minutes | Forbes | Rob Toews
Large language models (LLMs) like GPT-4 have an astonishing command of human language. But, the biggest opportunity could be with an entirely different language: the "language of life" — biology. DNA and proteins are complex, yet programmable systems, much like digital code. While tools like AlphaFold have used AI to solve long-standing problems like protein folding, they're just the tip of the iceberg. Language models can go further, rapidly predicting protein structures and even inventing new proteins for medical and industrial applications, says the author.
2. Article: What cybersecurity threats does generative AI expose us to?
04 minutes | World Economic Forum | Tarek Abudawood
Generative AI is transforming industries with its content creation capabilities. While promising, it also poses major cybersecurity threats. Bad actors can use it for their agenda. For example, GPT-4 can produce sophisticated malware, deepfakes can spearhead phishing attacks, and AI tools can bypass CAPTCHAs. As AI's influence grows, balancing its potential with ethical considerations and cybersecurity is imperative to safeguard our digital ecosystem.
III. From my Desk:
1. Video: My latest Speaker Reel 2023 | Captivating Talks & Keynote Highlights
05 min | YouTube
If there's one thing I'm passionate about, it's the power of AI and data storytelling to transform business decisions. Over the past decade, I've helped hundreds of global executives and organizational leaders deliver value from data and analytics. Here’s my speaker reel, which offers a snapshot of what your audience can expect, a summary of my approach, and reactions from clients and leaders. Are you looking for an inspiring speaker for your next event? Drop me a note!
2. Award: 2023 Insight250 Award Recognition
01 min | Insight250
I’m happy to share that I've been recognized as a 2023 Insight250 Global Innovator & Leader. Helping organizations make better decisions with data & analytics has been my priority for over a decade. From co-founding Gramener & Innovation Titan, contributing to Forbes, speaking at TEDx, and helping leaders make better decisions with data & analytics, this journey has been incredible thus far.
Thank you for subscribing and reading the newsletter. I appreciate your attention,
Ganes.
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My Website | LinkedIn | Twitter | YouTube
I’m Ganes Kesari. I publish ‘Data-Driven Future’ to help understand how data shapes our world, explore key trends, and explain what they mean for you today. I speak and write to demystify data science for decision-makers and organizations.
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