Decision making is one of the most important aspects of any business, if not the most important aspect. However, even decision making is no longer reliant on human decisions and thinking skills. As it is happening all over the world, automation is taking over situations where human error, however minuscule, can exist. Computers can now do anything, from identification to distribution to detection. In short, they are surely going to affect your lives more and more. It is here the decision making aspect comes in.
Algorithms have brains
Human brain is perhaps the fruitful part of the body and it is the brain that can surely affect scenarios and change them permanently. However, with computers, algorithms can do what brain does only by tracing the pattern of the thought process. So, if you are to select a specific thing or plan a certain strategy, then human brain surely is left miles behind by algorithms because they are automated.
Precision goes to a new level
Precision is the essence of all decision making and it is here computers and algorithms are forging new paths. For example, in an interview pool, the decision to take the best candidate is often a difficult one because you can often not decide between a few candidates. However, an algorithm can tell you if you have already taken the best candidate or not. Of course, these are conditional, but their accuracy is stunning.
Choosing the best
Not merely interviews, but choosing the best solution out of many is also a headache. However, computer eliminates that too for you by working on specific scenarios. For example, do you know that you can automate gambling results and win millions overnight? Of course, the software is hardly sold, but the potential is surely overwhelming. In fact, if you have a set of options with nearly similar weightage, it is imperative to an algorithm to figure out the best.
From measurement to judgment
Of course, the most important part in any decision making is not measurement of objects but judgment of ideas. A business idea can change the world, but obviously one has to have the judgment to realize the genius. Hence, to formulate a framework where computers can provide judgment seems to be the most challenging task as of now. Computers are trying to pull out some rabbit out of the bag, but surely this will take some time.