What is a decision support tool?
A Decision Support Tool is a software developed to support analysts and decision makers in making better decisions, faster. Regardless of your industry, the technical, economic, human, and even social factors that a business may face each brings its own unique costs, values and feasibilities. Making the right decision and choosing the proper course of action can be challenging, especially if the decision makers don’t have all the possible data available at their disposal. This issue can still be complex even when decision makers have some insights, but without software that can make connections between the data, it’s difficult to see the full picture. Decision support tools that merge deep analysis with powerful prediction capabilities can help companies improve the way they approach information, insights and the contexts that surrounds them.
The advantages of using decision support tools based on AI
A decision support tools based on Artificial Intelligence algorithms such as those provided by expert.ai, can extract insights from multiple sources in different languages and analyze each piece of information at a deep level and with great speed. At this level, it would be impossible for a single analyst, or even a team of analysts, to compete.
expert.ai makes this possible through a unique ability to understand content like a human. expert.ai can discover the knowledge hidden within data, highlighting facts, people, entities and all the relations between the data to create insight useful for decision making.
Today, managing information requires accuracy and more speed than ever before. Achieving such speed would not be possible without a modern system like a Decision Support Tool. What’s more, it’s a competitive advantage. The structure and the data involved are unique for every company, and therefore require tools that can help you address each topic with the proper approach.
expert.ai can easily switch from one topic to another thanks to its unique knowledge graph that already comprehends millions of terms, concepts and meanings, understanding and analyzing every piece of content like a real expert. A decision support tool like expert.ai helps companies enhance the efficiency of their decision making, contributing useful insights to create the base that your decision making requires.
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Originally published January 2018, updated January 2020