About Decision Intelligence
Decision intelligence is a practical domain that encompasses a broad range of decision-making techniques, bringing together multiple traditional and advanced disciplines to design, model, align, execute, monitor, and tune decision models and processes. Decision management (including advanced nondeterministic techniques such as agent-based systems) and decision support are among these disciplines, as are techniques such as descriptive, diagnostic, and predictive analytics. Decision Intelligence (DI) is the commercial application of artificial intelligence (AI) to the decision-making process in all areas of a business. It is outcome-oriented and must meet commercial objectives. Decision Intelligence is being used by organizations to optimize every department and improve business performance. Decision Intelligence enables businesses to use AI and data to make quick, accurate, consistent decisions and address specific business needs and problems. It enables data to be collected and machine learning models to be used to predict accurate outcomes for optimal commercial decision-making.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The market has seen a massive technological advancement to grow automation and artificial intelligence which has driven the market growth. Massive investments and disruption of the digitization in industries by the E-commerce and other applications market have seen a majority of providers enter the intelligence and ML market to grab this opportunity and hold a better position. Whereas the big players have tried to develop by mergers and acquisitions and investments in developing better technology to keep up with the competition and hold a higher position in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Decision Intelligence market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), Aeye (United States), Busigence Technologies (United States), Aera Technolog (United States), Peak.in (United Kingdom), Tellius, Inc. (United States), PYRAMID ANALYTICS (Netherlands), Pegasystems Inc. (United States), Quantellia LLC. (United States) and Diwo (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Domo, Inc. (United States) and Datarobot Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Decision Intelligence market by , Application (BFSI, Healthcare, Energy, Media and Entertainment, Oil and Gas, Retail, Transportation and Others) and Region.
On the basis of geography, the market of Decision Intelligence has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment , the sub-segment i.e. Cloud will boost the Decision Intelligence market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Services, the sub-segment i.e. Demand Forecasting will boost the Decision Intelligence market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Analytics will boost the Decision Intelligence market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Modules, the sub-segment i.e. Human-based will boost the Decision Intelligence market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
Tellius, the AI-driven decision intelligence platform, is partnering with Databricks to give joint customers the ability to run Tellius natural language search queries and automated insights directly on the Databricks Lakehouse Platform, powered by Delta Lake, without the need to move any data. Now, any business users and technical users alike can use Tellius to engage directly with their data and models in Databricks.
Quantexa, a leading global provider of Contextual Decision Intelligence solutions, announced in June 2022the launch of its inaugural Partner Program, a global framework to better support the growth and success of its consulting, delivery, technology, and data partners. The new global program gives partners exclusive access to technology roadmap updates, in addition to training and certification, marketing, and co-selling opportunities. The co-innovation program offers customers an easier way to validate a partner's technical capabilities and identify the right partner(s) to help meet their industry-specific needs.
There is currently no legislation in place to govern the use of AI. Rather, AI systems are governed by existing regulations. These include laws governing data protection, consumer protection, and market competition. Bills have also been introduced to regulate specific AI systems. Companies in New York may soon be required to disclose when they use algorithms to select employees. Several cities in the United States have already prohibited the use of facial recognition technology. The planned Digital Services Act in the EU will have a significant impact on online platforms' use of content-moderation algorithms, which rank and moderate online content, predict our personal preferences, and ultimately decide what we read and watch.
Market Drivers
- Technological Development in AI Made is Convenient to Lower the Errors during Human Decision Making Capabilities Has Brought a Necessity to Adopt Decision Intelligence.
Opportunities
- Growing Digital Dependency of Consumers is developing the AI Technology.
Restraints
- High Initial Cost of Investment.
Challenges
- Lack of Technical Knowledge among Users.
Key Target Audience
Decision intelligence companies, Artificial intelligence companies, IT Consultancy companies, New Entrants and Investors, Legalized Cannabis Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.