We already rely on decision analytics – people routinely use GPS and maps to get directions. The next frontier is to transform business decision-making.
Decision analytics builds upon earlier transformations of the lower stages. (1) Information digitization is widespread and increasing, data now flows in from business systems, social media and distributed computers. (2) Data analytics has been transformed too: exponentially larger data of different types can be processed rapidly. Big data analytics and business intelligence platforms proliferate.
Decision analytics is used to drive results from data in a continual and adaptive cycle. Data analytics generates insights needed for the decision analytics.