Company culture is a key criteria for being an asset to your startup. It can influence many aspects of your success from how effectively you build a product to how...
How do you prevent employee burnout? Improve hybrid team collaboration? Measure and benchmark employee deep work time?
The answer: Decision Intelligence
Over the years, business decision making has evolved into a continuous, comprehensive process, more recently this process is being improved with data-driven technology empowering companies to make faster and more accurate decisions.
In this article we will explore how decision intelligence and team productivity analytics go a long way to keeping your business in check and improving your bottom line.
Since Covid-19 first emerged, organisations have faced a barrage of new challenges. From hybrid workplace transformation to increasing levels of employee disengagement.
This begs the question: Can decision intelligence provide the solution?
Let’s find out...
WHAT IS Decision Intelligence?
Decision Intelligence is a data-driven process that enables businesses to make faster, more accurate and fact based decisions, rather than relying on intuition.
When the stakes are high – for example trying to scale a business in a competitive space, strategy alignment underpins success.
The world has evolved rapidly, data collection doesn’t require hiring armies of consultants analyzing data, the rise of artificial intelligence and machine learning now makes connecting multiple data sources scaleable and achieving decision intelligence a realistic possibility for every business.
While business intelligence has proved enormously valuable historically to blue chip enterprises, decision intelligence is fast becoming a wider used term with startups, scaleups and large corporates.
Put simply, decision intelligence is the strategic application of artificial intelligence (AI) or machine learning to make better business decisions.
The way we work has shifted dramatically in recent times, and as organisations struggle implement hybrid work strategies and collaborative cultures, the importance for decision intelligence grows.
Challenges With Hybrid Teams
For remote and hybrid workers, technology has become more important than ever. Share documents with colleagues, attending team meetings and communicating and collaborating with team members through collaboration and communication tools has increased 10 fold
It found that although 55% of business leaders said adopting the latest technology was key to an ideal employee experience, whereas only 43% of employees agreed.
In the same study, business leaders showed a greater concern around the practicalities of remote working than employees.
These above points show there is a disconnect in culture and trust, business leaders must overcome these challenges before throwing technology at a problem to solve it.
Where possible, organizations need to use decision intelligence to inform how to make a hybrid workplace successful, and this doesn’t mean constant new technology, it means connecting the technology you have and understanding what the data-driven intelligence is telling you.
The Changing Face of People Analytics
People analytics is a common term used to describe the way organizations identify, attract, develop, and retain talent. However, many organizations still make those decisions based on instinct and intuition.
Although people analytics to date has helped unlock some power of data—the real value creation is yet to be uncovered. When we combine people analytics with decision intelligence, we create ‘Connected Decision Intelligence’.
Traditional people analytics only examines the personal attributes and relationships between employees. We are entering an age, where a more holistic view of relationships between external and internal teams in required to create real organizational value.
As the new era of decision intelligence evolves we must also consider employee productivity, and how decision intelligence can increase organizational transparency and improve information flow between all individuals, teams, departments, clients and partners.
IMPROVING TEAM PRODUCTIVITY
Output divided by input has traditionally defined productivity. Sounds simple, right?
Although the definition isn’t wrong, it typically doesn’t take into consideration the quality of work being delivered.
Let’s look at it from two sides of the coin…
Your productivity metric tracks the amount calls your sales team is making. If caller A makes 22 calls and caller B makes 90 calls in the same workday you could assume caller B is more productive.
However caller A had a talk time of 10mins and generated 7 qualified leads, whereas caller B had a talk time under 2mins and generated 3 qualified leads.
Which caller is more productive?
Decision intelligence increases your productivity insights, and if you want to truly increase team productivity, you need to look beyond singular outputs and establish connected data sources that provide a complete single view on productivity.
Put bluntly, the lack of productivity among your team impacts your innovation and hiders growth. And while we all have good intentions and make small efforts to improve productivity, it's rarely measured effectively or used as a strategic metric in leadership team meeting and company KPIs.
By adopting decision intelligence to improve employee productivity you will in turn improve employee engagement, increase employee deep work time, improve collaboration among employees and reduce employee burnout.
THE BENEFITS OF Decision Intelligence
Before we delve into some of the benefits of decision intelligence, it is important to distill the hype. Decision intelligence won’t make every decision for your business automatically, it will have provide you with the right connected data to make better data-informed decision.
Yes the human factor will still be needed in business decision making.
Although the artificial intelligence or machine learning part of decision intelligence can quickly analyse large amounts data from multiple sources and without being prone to cognitive biases, to maximize the benefits of decision intelligence, human validation is still required.
Below are three core benefits of decision intelligence which businesses can expect.…
1. Improved Cross Functional Alignment
While 91% of companies believe that data-informed decision-making can boost their business growth exponentially, only 57% of businesses currently rely on data.
To gain competitive advantage, be faster to market, improve customer experience, you have to correctly align your team communication, collaboration and information flow.
Decision intelligence can take a deeper look at the multiple sources of data and find invisible patterns and possible anomalies which can significantly influence improved business performance.
2. Hybrid Culture Transformation
According to a recent McKinsey survey, only 20% of organizations are happy with their decision-making speed. Others admit they waste too much time on making the right decision, and ultimately that decision wasn’t the best decision.
Many organizations are embarking of culture transformation initiatives as they adopt more remote or hybrid ways working.
Decision intelligence is arguably the critical success factor in hybrid culture transformation, even in smaller organizations, the requirement to analyse data about employee productivity, team collaboration, employee sentiment and information silos is key to making better and faster decision which improve business performance.
3. Increased Team Efficiency and Effectiveness
In our recent article 3 strategies to improve team efficiency we explored how ‘Efficiency is doing things right’ and ‘Effectiveness is doing the right thing’.
Decision intelligence enables organisation to improve both employee efficiency and team effectiveness. If you can make better and faster decision about doing the right things, and empower your teams to do things right, then decision intelligence will have created enormous value for your business.
Are you ready to start utilizing Decision Intelligence?
When executed well, decision intelligence can start providing high-impact business performance in a matter of weeks.
Here at Flowtrace we can help you navigate the minefield and connect the dots between team productivity, cross functional collaboration and employee engagement.
For more information, why not check out more information about how we connect the dots? Alternatively, please feel free to contact us today and book a discovery call. We're more than happy to answer any questions you may have!