#19 Dr. Lorien Pratt: Decision Intelligence Defined

In this episode, Dr. Lorien Pratt discusses the concept of Decision Intelligence (DI), its importance in bridging the gap between data and decision-making, and how it evolves from decision engineering. She emphasizes the need for stakeholder alignment, the role of data in decision-making, and the importance of understanding the context of decisions. The conversation also touches on the integration of various technologies and the future of DI in a rapidly changing world.Chapters0:00 - Preview 0:28 - Meet Dr. Lorien Pratt1:43 - Defining Decision Intelligence2:28 - The Gap Between Data and Decision-Making5:05 - The Evolution from Decision Engineering to Decision Intelligence9:28 - Integrating Operations Research with Decision Intelligence14:14 - Pricing optimization, diffuse objectives & cross-silo interactions16:44 - Two Meanings of “Decision”18:55 - Incorporating Uncertainty in Decision-Making20:54 - The Dangers of Over-Engineering Models25:25 - Lack of a Shared Blueprint & The Need for Alignment33:20 - Learn about Quantellia 33:55 - The Inflection Point40:55 - Resources: DIHandbook.com & GettingStartedWithDI.comFollow the showApple: ⁠https://podcasts.apple.com/in/podcast/the-decision-intelligence-lab/id1811085064⁠Spotify: ⁠https://open.spotify.com/show/0lFoAVKqJHTYSZNpeN61ou?si=0ae973aab0174b3b⁠Connect with the guestDr. Lorien Pratt: ⁠https://www.linkedin.com/in/lorienpratt/Connect with hostsProf. Vijay Mehrotra (University of San Francisco): ⁠https://www.linkedin.com/in/vijay-mehrotra-ba9498/⁠Prof. Michael Watson (Northwestern University): ⁠https://www.linkedin.com/in/michael-watson-07600a1⁠About the podcastThe Decision Intelligence Lab podcast delivers real-world insights for data professionals, business leaders, and anyone seeking to leverage data & AI for smarter decision-making & successful business outcomes.For business inquiries, email at ⁠[email protected]⁠