Gartner included decision intelligence as one of its top strategic technology trends for 2022, predicting that more than one third of large organizations will be practicing the discipline by 2023. The technology provides an automated way to make decisions, enabling companies to better meet market demands and obtain and keep competitive advantage.

If that sounds good to you, read on for some tips for getting started, courtesy of a recent CIO article:

Start with Low-hanging Fruit 

A good starting point is to find a process that is extremely well defined, low risk, and has a large collection of examples. Even if a company has already automated all of the processes that fit this description, adding more factors to the decision engine can improve accuracy. For example, consider how a risk-scoring decision could be enhanced by including the user’s location or the time of day. 

Don’t Forget About New Data 

As a process is repeated, the results will become clearer, meaning that companies will have more opportunities to improve both the process and the resulting intelligence. For example, if a credit card company flags a suspicious transaction and it is later confirmed as fraudulent activity, it can incorporate this new data into ongoing training to increase its ability to detect fraud. 

Tweak Your Algorithms 

In addition to incorporating new data into any decision intelligence strategy, companies must also periodically tweak the underlying algorithms. 

Separate the Good from the Lucky 

When working with smaller data sets, it can be difficult to determine whether a good decision led to a bad outcome, simply because of luck—or vice versa. To solve the issue, organizations should formalize a decision-making process prior to implementing technology to support that process. Consider a marketing department that regularly conducts A-B testing or a human resources (HR) organization that measures the impact of employees’ performance. By following a similar process, businesses can better measure the outcomes of complicated decisions.

Monitor for Biased Data 

As we’ve discussed previously at the APEX of Innovation, decisions are only as good as the data fueling them. Adding to this challenge is the fact that people are inherently biased and will often seek out data points that support their preconceived ideas and opinions. When implementing decision intelligence, companies need to be mindful of bias and provide guardrails to ensure decisions are not unduly influenced.

For more on these and other tips, head over to CIO.