Decision support system: how to make the right business decisions quickly


    Digital transformation is a process that no company, not even small and medium-sized enterprises, can now avoid. To be able to manage every business in the best possible way, decisions have to be made quickly and consciously, using decision support system (DSS) software, which, thanks to artificial intelligence and machine learning, analyses large amounts of data and provides the key information that CEOs and directors of different business areas need to make the right decisions for the company.

    The best decision support systems are virtual agents, i.e. the artificial intelligence software that supports and helps the company in its day-to-day work. Virtual agents analyse data rapidly, providing predictive analysis on any area: company performance, return on investment, commodity prices and market forecasts. Relying on a virtual agent that functions as a decision support system means having an advisor at your side at all times who, data in hand, will help you to avoid making mistakes in your decisions, thus avoiding both loss of time and money.

    What is a decision support system and what is it for?

    Decision support systems are software designed to process large amounts of data in an “intelligent” way. Using complex artificial intelligence algorithms and state-of-the-art machine learning techniques, they allow information to be extracted efficiently and quickly. Depending on the type of business sector, the decision support system will be built and configured to the needs of the company.

    This is because each sector has different parameters and data on which to base their models and then feed into the decision-making process, supporting and helping company managers to make the best decisions. Systems must therefore have three fundamental characteristics: allow the management of large amounts of data from different sources, guarantee access to different platforms using a single, intuitive interface, and guarantee that the results can be consulted by several users, perhaps with different permissions, as well as allow the management of historical data and integrate them with current data at any time.

    A good decision support system must be flexible software, able to respond to different business needs, but above all it must be effective, so that it always provides information aligning historical data and predictive analysis. Finally, it must ensure efficiency: enabling the company to achieve the best results using a minimum number of resources, so that costs and expenses can be cut and profits maximised.

    Virtual agents: how to use them in the decision support system

    A virtual agent is the best decision support system your company could have, provided you understand how best to use it to save money. This is artificial intelligence-based software that offers maximum flexibility because it allows constant monitoring of your business, providing an up-to-date overview of business performance, both in terms of historical trends and future forecasts.

    By providing simulations of future scenarios, virtual agents support the CEO in making decisions, helping them to assess step by step what the possible outcomes of each corporate strategy and budget allocation are, so as to accompany the company in achieving its goals without waste. And if the scenario shows that the set target is not attainable, it helps you to define new targets that are a real revenue opportunity for your business. 

    Virtual agents are a flexible, effective and, above all, efficient decision support system that accompanies the CEO in day-to-day decisions, guiding and helping them to make the right choices for the good of the company.