Strategic Decision Making with Machine Learning (ML) (PowerPoint PPTX)

DESCRIPTION

Artificial Intelligence has come a long way from playing "chess" against a human. It has not only increased in breadth of applicability, but has also increased greatly in accessibility.

These days, there is an increasing trend in organizations to use Machine Learning (ML) to improve Executive Decision Making. Research by MIT Sloan Management Review in collaboration with Google—involving 4,700 executives and a number of key informant interviews—indicates that Machine Learning is gradually transforming the way enterprises build and analyze value.

First, what is Machine Learning?

The recent advances in Artificial Intelligence are attributed in part to applying Machine Learning to very large data sets. ML algorithms detect patterns and learn how to make predictions and recommendations by processing data and experiences, rather than by receiving explicit programming instruction. The algorithms also adapt and learn in response to new data and experiences to improve efficacy over time.

How does Machine Learning enable Strategic Decision Making?

Machine Learning offers various analytics abilities of increasing complexity for predictions and preparation, i.e., Descriptive, Predictive, and Prescriptive. Particularly related to its predictive and prescriptive capabilities, Machine Learning has a profound role in improving Operational Excellence and Decision Making. Machine Learning renders Key Performance Indicators (KPIs) more analytical and rigorous, which in turn allows executives to augment business processes by using strategic measures to guide ML algorithms.

This PowerPoint presentation on Strategic Decision Making with Machine Learning provides a detailed summary of the 3 best practices on the use of ML in enabling Strategic Decision Making in executives.

1. Employ KPIs to Enable an Integrated, Single View of Customers.
2. Analyze and Interpret Factors Driving KPIs.
3. Evaluate KPI Reports Carefully and Regularly

These 3 best practices are discussed in depth in this framework presentation.

The PowerPoint presentation includes some slide templates for you to use in your own business presentations, which convey concepts of the types of Machine Learning Analytics and Machine Learning best practices for Strategic Decision Making.

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Source: Best Practices in Decision Making, Machine Learning PowerPoint Slides: Strategic Decision Making with Machine Learning (ML) PowerPoint (PPTX) Presentation, Flevy