There are many analytics firms out there which are ready to give you insights or have the applications that can get you the data you are looking for. The basics of all the analytics and insights is, so that you can make a decisions for the product, for your team and for the company.
But even after loads of information you are still confused on what to decide, sometimes you do catch the act of serendipity, but in most cases we happen to make some wrong or sometimes even silly decisions.
Sobesoft wants to help you to stop making the errors in decision making by comparing your decision with the crowd’s decisions.
That’s something unique, how many analytic firms help you do that? think about it.
And having meetings inside conference rooms and cool cafeterias, thinking, that you got a cool idea, wouldn’t it be better to listen to the people and then decide.
We had an opportunity to talk to K.E. Hall from SobeSoft, Dallas, Texas and know more about the decision analytics and their product.
What is Decision Analytics? Please explain the entire philosophy and methodology behind crowd sourced decision making.
A few years ago, a group of friends and very accomplished corporate employees (with backgrounds from Bank of America, HP, Verizon, etc.) got together to socialize and to talk about business. One person in the group asked the question, what is the number one problem in business today? After a very lively discussion over several hours, the consensus of the group was that the number one problem in business today was bad decision making. It was concluded during this discussion that bad decisions were being made in all types of businesses; from the largest of large corporations to the smallest of small businesses throughout the world on a daily basis. These bad decisions have costs corporations trillions of dollars, resulted in widespread layoffs and have severely impacted economies throughout the world. These bad decisions have also put countless numbers of small businesses and startups out of business. These small businesses and startups could have provided jobs to millions of people and provided valuable products and services to consumers and businesses throughout the world. From the business clarity discovered among friends during this discussion, Sobesoft was born.
How is this decision analytics software crowd sourced? Where are the crowd inputs taken, and how are they used to arrive at decisions? Also, when I look at some sample reports – there is a Comparable Score for each section. How is that derived?
Users have an option to voluntarily submit their decision reports to Sobesoft for historical comparison purposes. These user submitted reports are tabulated and included in the database that generates comparable critical success factor scores.
When is the startup launched? How has been the response so far?
Sobesoft was launched in February 2013 and the response has been tremendous. After the financial collapse and slow economic recovery, businesses are realizing that making smart decisions is key to their long-term survival.
Tell us about the founders and their background.
Robert Greene has an MBA in finance and is President of the company.
Carol Jonas has an MBA in Marketing and is our Chief Marketing Officer.
Sean Patel has a Masters in Computer Science and is our Chief Technology Officer.
What kind of decisions does the software help us with? If a particular decision involves only people, will the software still help?
Sobesoft was designed to take human biases out of the business decision making process. Studies have shown that 50% or more of the decisions businesses make are the wrong decisions. These bad decisions cost the world economy trillions of dollars.
What are the hurdles you faced while coming up with custom decision analytics software? And how did you overcome them?
The hardest part of the software development process was to come up with an algorithm based on common questions that was not too long, but generated enough data to screen out the biases in business decision making.
These days, every software released is hosted on cloud. Any particular reason why Sobesoft Decision Analytics software are distributed as standalone applications?
We plan on providing an option for the cloud in the future. However, we didn’t want to launch our software using subscription pricing because we were worried it would slow our adaption. In order to really impact the economy, Decision Analytics needs to be adapted as fast as possible.
Please tell us your future plans.
In addition to adding a cloud options, we plan on developing decision models for specific vertical markets such as retail stores, restaurants, software developers, etc. These new products will be hyper-focused on helping businesses make the best decisions for specific industries. However, our overall mission will still be to help improve the world economy by systematically helping business make better decisions.