We are proud to announce that CRN has named Diwo to its “10 Hottest AI Startups of 2021” list, the only bootstrapped startup to make the list. CRN, a top media publication for solution providers and technology integrators, recognized enterprise AI company Diwo for our decision intelligence solution, which “automates the business insights process and provides executives a central space for predicting growth opportunities and quantifying the effect of individual decisions on revenue, along with other measures.”
IDC forecasts worldwide revenues for AI software, hardware and services to reach $327.5 billion in 2021, a year-over-year growth of 16.4 percent. By 2024, the market should break $500 billion. It couldn’t be a more exciting time to be a part of this industry.
“This recognition from CRN further validates that Fortune 1000 companies are seeking business value from their data and analytics investments,” said Diwo CEO Krishna Kallakuri. “By adding AI to business intelligence, we’re moving beyond dashboards and providing validated recommendations that lead to immediate decisions and quicker business value. This removes the cognitive burden on business decision-makers.”
Let’s dig into how decision intelligence technology like Diwo can help drive real business outcomes through AI-powered analytics.
The power of decision intelligence
Many organizations rely on the insights within dashboards and traditional business intelligence (BI) tools to make decisions. While these tools are good at helping visualize data, and even examining some trends, it’s hard to ask a question about data and get an answer. Advanced BI solutions that embed predictive AI models can provide a bit more of a glimpse into the future, yet only indicate possibilities of what may happen.
How do you know what impact your decision will have on the business? For example, if a big-box retailer knows it will be a hot summer based on a predictive model and stocks up on gardening equipment, how will that decision impact margins? Decision intelligence solutions like Diwo respond to users’ natural-language queries with both insights and specific recommendations including business impact. Diwo’s patented AI technology applies business context to all insights in order to provide a series of validated recommendations.
The user can evaluate these recommendations in real time by adding various constraints and running scenarios within the natural language interface. Diwo slices through the data and insights to provide immediate and clear advice, with direct positive results for the business’ performance. On the other hand, BI tools only provide representations of data, and still rely heavily on manual analysis to come to a meaningful conclusion.
AI for retail, financial services and more
As AI for retail, financial services and other industries matures, solutions like Diwo can maximize the value in existing machine learning engineering investments. Instead of using predictive machine learning models within BI tools to make low-level (or single-step) operational decisions, a decision intelligence solution can translate that value to higher-level tactical decisions. For example, the retailer above could understand how excess gardening equipment stock can impact margins, or a credit card company could zero in on the right personalized offers for each of its user segments.
These solutions work by interrogating multiple AI models and synthesizing data from many sources to make a decision. Over time, the system “learns” from analysts’ input, adding system- driven business context and continually increasing the quality of recommendations processed via the organization’s existing AI models.
Move from insights to guided decision-making
Insights from a dashboard still require a significant amount of human intervention to determine the next course of action. That is why Gartner has found that the majority decisions are made on gut instinct, in spite of billions being spent on data and analytics. With Diwo, the user is consistently guided through the discussion until an AI-powered recommendation is delivered and validated. The end goal is reaching the best possible data-driven business outcome in the shortest time possible, and reducing the dependence on human interpretation of insights and dashboards.
Want to see Diwo in action delivering recommendations, instead of relying on dashboards? Request a Demo