Do Not Puzzle Business Intelligence Along With Genuine Information Scientific Research

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Do Not Puzzle Business Intelligence Along With Genuine Information Scientific Research – Curious about what the psychology of avoiding lions on the savannah has in common with responsible AI leadership and data warehouse design challenges? Welcome to Intelligence for Decision Making!

Decision intelligence is a new academic discipline dealing with all aspects of choosing between options. It brings together the best of applied data science, social science, and management science into a single field that helps people use data to improve their lives, their businesses, and the world around them. It is a vital science for the AI ​​era, covering the skills needed to responsibly lead AI projects and design goals, metrics and safety nets for automation at scale.

Do Not Puzzle Business Intelligence Along With Genuine Information Scientific Research

Let’s take a tour of its basic terminology and concepts. The sections are designed to be skim-friendly (and also ski-read, which is where you skip the boring parts… and sometimes skip the act of reading entirely).

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Data is beautiful, but decisions are important. Through our decisions – our actions – we affect the world around us.

To mean any choice between options from any entity, so the conversation is broader than MBA-style dilemmas (like whether to open a branch of your business in London).

In this terminology, adding a cat vs. non-cat tag to a user’s photo is a decision executed by a computer system, while figuring out whether to run that system is a decision carefully made by the human leader (I hope!) in the project’s charge .

In our parlance, the “decision maker” is not that stakeholder or investor who swoops in to veto the project team’s machinations, but rather the person responsible for the solution architecture and context framework . In other words, a creator of well-articulated goals, as opposed to a destroyer of them.

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Resource allocation is done. While you can change your mind for free, no decision has been made yet.

One way to approach the study of decision intelligence is to divide it along traditional lines into its quantitative aspects (largely overlapping with applied data science) and qualitative aspects (developed primarily by researchers in the social and management sciences ).

The disciplines that make up the qualitative side are traditionally called decision sciences – which is what I’d like the whole thing to be called (alas, we can’t always have what we want).

This is just a small taste… there is much more! This is also far from the complete list of disciplines included. Think of the decision science side as dealing with setting decisions and processing information in its more fuzzy storage form (the human brain) rather than the kind that is neatly recorded in semi-permanent storage (on paper or on electronic path), which we call data.

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In the last century it was fashionable to praise anyone who stuffed a fat wad of mathematics into some unsuspecting human endeavor. Taking a quantitative approach is usually better than reckless chaos, but there is a way to do even better.

Strategies based on pure mathematical rationality without a qualitative understanding of decision-making and human behavior can be quite naïve and underperform compared to those based on joint mastery of quantitative

Quality sides. (Expect blog posts on the history of rationality in the social sciences, as well as examples from behavioral game theory where psychology trumps math.)

. (It’s also a concept that was shocking enough to the arrogance of our species—a slap in the face of rational man, godlike and blameless—that it deserved a Nobel Prize.)

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Aristotle considered the brain to be a glorified air conditioner for the heart. I guess the brain looks less impressive when it’s on the outside… Image: SOURCE

In reality, all of us humans use cognitive heuristics to save time and effort. This is often a good thing; devising the perfect running path to escape a lion in the savanna will eat us up before we’ve even begun the calculation. Contentment also reduces the cost of living in calories, which is just as well, since our brains are ridiculously energy-hungry devices, absorbing about a fifth of our energy expenditure, despite weighing approx.

Now that most of us don’t spend our days running from lions, some of the corners we cut lead to predictable rubbish. Our brains are not exactly optimized for the modern environment. Understanding how our species turns information into action allows you to use your decision-making processes to protect yourself from the shortcomings of your own brain (as well as those who deliberately prey on your instincts). It also helps you build tools that increase your efficiency and adapt your environment to your brain if the poor thing is extremely slow to catch up

By the way, if you think AI is removing the human from the equation, think again! All technology is a reflection of its creators, and systems that operate at scale can amplify human failings, which is one reason why developing decision-making skills is so necessary for responsible AI leadership. Learn more here.

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Sometimes, carefully considering your decision criteria makes you realize that there is no fact in the world that can change your mind – you have already chosen your course of action and now you are just looking for a way to feel better about it. It’s a useful realization – it stops you from wasting more time and helps you redirect your emotional discomfort while doing what you’re meant to be doing anyway, data be damned.

Unless you take different actions in response to different as-yet-unknown facts, there is no solution here… although sometimes learning decision analysis helps you see these situations more clearly.

Fact sensitive and you can click your fingers to see the factual information you need to execute your decision. What do you need data science for? Nothing, that’s what.

There’s never anything better than a fact – something you know for sure (yes, I’m aware there’s a gaping relativist rabbit hole here, let’s move on) – so we always prefer to make decisions based on facts, if we have them. Therefore, the first job should be to understand how we would like to deal with the facts. For which of the following purposes would you like to use your ideal information?

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With training in the decision sciences, you learn to reduce the effort required to make hard, fact-based decisions, meaning that the same amount of work now gets you higher-quality decision-making all around. This is a very valuable skill, but it takes a lot of work to perfect it. For example, students of behavioral economics form the habit of determining decision criteria before information. Those of us who have taken a beating from sufficiently demanding decision science training programs can’t help but ask, for example, what is the maximum we would pay for a ticket BEFORE we see the price.

If we had the facts, we would already be ready. Alas, we live in the real world and often have to work for our information. Data engineering is a complex discipline focused on delivering reliable information at scale. In the same way that going to the grocery store for a pint of ice cream is easy, data engineering is easy when all available relevant information fits into a spreadsheet.

Things get tricky when you start asking about shipping 2 million tons of ice cream… where it’s not allowed to melt! Things get even more difficult if you have to design, set up and maintain a huge warehouse and you don’t even know what the future will have you storing next – maybe a few tons of fish, maybe plutonium… good luck!

It’s hard to create a warehouse when you don’t even know what you’ll be asked to store next week – maybe a few tons of fish, maybe plutonium… good luck!

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While data engineering is a distinct sister discipline and key contributor to decision intelligence, decision sciences include a strong tradition of expertise involved in advising design and curating fact-gathering.

When you’ve formulated your decision and looked up all the facts you need using a search engine or analyzer (acting as a human search engine for you), all that’s left is to execute your decision. You are done! No fancy data science required.

What if, after all that work and engineering jiu-jitsu, the facts provided aren’t the facts you ideally need for your decision? What if they are only partial facts? Maybe you want tomorrow’s facts, but you only have the past to inform you. (It’s so annoying when we can’t remember the future.) Maybe you want to know what all your potential customers think about your product, but you can only ask a hundred of them. Then you are dealing with uncertainty! What you know is not what you want to know. Enter data science!

Data science gets interesting when you are forced to make leaps beyond the data… but be careful to avoid an Icarus streak!

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Naturally, you should expect your approach to change when the facts you have are not the facts you need. Maybe they are one piece of the puzzle

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