Enzo Troncone at SMAU
Do you ever find yourself in boring meetings that drag on and on and then end with nothing being agreed? Enzo Troncone can help.
Enzo’s business Butterfly specialises in decision-making solutions that make those meetings around 30 per cent shorter through decision science.
Decision science fuses together economics, machine learning, statistical theory, operations research, forecasting, behavioural decision theory and cognitive psychology.
Butterfly is a decision-making software tool that produces and develops risk assessment algorithms to help teams and organisations make quicker and better decisions. The tool essentially optimises time management, a currency rising in value, for its collaborators.
Users are presented with custom-made virtual decision-making tables. These tables are created using a framework, which considers all possible elements necessary to reach their decision.
Once a decision-making table is launched, the user can assess the options and potentially propose alternatives. The AI algorithms within the system will in turn analyse their suggestions, and compare them with available data before providing a risk analysis and recommendation on next steps.
Enzo was recently invited to the SMAU exhibition in London, an annual event to encourage UK-based entrepreneurs to start or develop their business by drawing inspiration from top-performing Italian organisations.
“This represented a great honour,” Enzo said. “SMAU showcases Italian technological excellence to the world. It was a magnificent opportunity to network and learn from leading technological innovators.”
Now 40, Enzo’s academic journey has been action-packed and truly began to take shape at 16 when he left home to study at a military school.
Enzo said: “I was born in a beautiful village named Bovino in southern Italy. My parents always encouraged my seven siblings and I to travel, and since I left Bovino for Nunziatella Military School in Naples, I haven’t looked back.”
It was in 2017 though that his passions for education and travel sparked a new one - entrepreneurship.
Can scientific procedures affect decision-making processes?
Inspired by a scholar he met while working in Brazil, Enzo realised he could turn theory into practice.
“This professor was a luminary of logic, with whom I greatly improved my skills and vision of problem-solving, AI and decision-making processes,” said Enzo.
“I saw the huge impact that improving decision-making processes could have on the success and sustainability of an organisation, and knew I could make a difference in the world.
“I decided to turn my knowledge and understanding into a business, and thus Butterfly was formed. I saw a gap in the market in which I could apply scientific procedures to decision-making processes – bringing decision science to the boardroom.”
To support his new-found career as an entrepreneur, Enzo knew he needed to hone and consolidate his skills. He identified a Distance Learning MBA as the perfect vehicle to achieve this.
Enzo said: “I chose Warwick due to the quality of teaching, support for entrepreneurial activities, and access to an international network of students and alumni.
“The course helps you understand the fundamental and critical management processes of an organisation. The innovation module was fundamental for me to design my service offer for large companies.
“Since completing the course I am confident and equipped to critically and analytically assess the way in which I manage my business – and how I present it to potential customers and investors.”
Can decision science save your business?
It was these acquired skills that galvanised Butterfly into becoming what it is today.
The company’s growth was mirrored by the development of its reputation during the COVID-19 pandemic. This was a time in which most, if not all organisations, had to reassess the way in which they worked.
“Companies were struck with an unexpected and sudden need to remodel, amid similarly abrupt cuts to financial and human resources,” Enzo said. “Our decision-making optimisation proved life-saving for many organisations.
“One particular client springs to mind – a medium-sized pharmaceutical company. We had to urgently digitalise their processes and business strategy as they were rapidly losing revenue and falling behind their competitors.
“The following year they announced a 35 per cent increase in turnover and I received a personal invitation to a celebration ceremony with the CEO. Being pivotal to such transformations makes it all worth it.
"We hope to emulate, and perhaps even succeed, billion-dollar US company Palantir Technologies."
It’s success stories like this that earned Enzo a place at SMAU, and the opportunity to both learn from and teach other budding entrepreneurs.
“Launching a company is one of the most difficult, but best things you can do in life,” said Enzo. “Start small, experiment with your business model, and refine your knowledge of the market.
“The Distance Learning MBA is the perfect guiding light to accompany your budding new project, in terms of teaching quality, networking and flexibility.
“Remember, ideas are like butterflies – they evolve.”