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Decision Making 2.0, Powered By Generative AI

Feb 14, 2024 - forbes.com
The article discusses the evolution of analytics dashboards and the impact of generative AI on decision-making processes. It highlights the limitations of traditional dashboards, such as their inability to adapt quickly to evolving data and processes, and the time-consuming task of adjusting metrics. The author introduces the concept of Decision Making 2.0, where generative AI and machine learning capabilities transform static dashboards into dynamic, intelligent platforms. These platforms can identify trends, uncover insights, and provide answers to predefined questions, enabling swift, data-driven decision-making.

The article also emphasizes the benefits of integrating generative AI into enterprise dashboards. These include a reduction in the number of dashboards needed, substantial cost savings related to dashboard maintenance, and a more efficient decision-making process. However, the author notes that using generative AI requires a robust semantic layer for data representation and significant investment in prompt engineering to ensure the accuracy and reliability of the generated insights.

Key takeaways:

  • Generative AI has significantly transformed the analytics world, ushering in a new era of Decision Making 2.0 where smart insights proactively arise to the forefront.
  • Analytics dashboards have evolved beyond static representations of data to dynamic, intelligent platforms endowed with cognitive prescriptive capabilities.
  • Embedding generative AI capabilities into intelligent dashboards reduces the need for an abundance of information, simplifies the data landscape, and results in substantial cost savings related to dashboard maintenance and overhead.
  • Generative AI-powered 'intelligent' dashboards have enormous potential for organizations to achieve their data-driven objectives with fewer resources and a faster data-driven decision-making process.
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