There’s no two ways about it: data is 21st century gold. Fortunately for organisations, it’s also profoundly abundant. Today, we are generating more data than is comprehensible, enabling businesses everywhere to strike gold.
In turn, the real challenge becomes this: how can organisations make sure they are getting the most out of their data? It’s one thing to use it, but another thing to get the best possible value from it. Not only that, but with all businesses zeroing in on their data, it’s become increasingly competitive.
There are a number of solutions and technologies available today to hoist your data efforts. However, no combination is quite as powerful as that of artificial intelligence (AI) and data analytics.
Similarly to data, AI is a powerful asset for the enterprise. Increasingly, organisations are exploring AI-driven opportunities to drive revenue, growth, and their digital transformation. Not only that, but AI is simply a really cool asset to have in the workplace!
You can add AI to pretty much any business operation; new use cases are cropping up all the time. In very brief terms, the mixing of AI into your business processes results in the same process, but on steroids. Thus, when you incorporate AI into your data strategy, it drives your data capabilities to completely new lengths.
Artificial intelligence, real results
When we talk about AI in data analytics, often we are referring to its subset: machine learning. Machine learning algorithms enable the automation and optimisation of analytics, giving businesses a better return on their insights. In particular, it can identify things the human eye simply couldn’t. As a result, your widen your pool of exploration and drive your business further.
AI in data analytics offers new potential to businesses in any arena, but customer-facing organisations may find it particularly advantageous. This is because AI enables businesses to pull more insights from interactions and tailor their services in turn. For example, companies can assess their chatbot data to identify the most popular queries, and act accordingly. As a result, customers can enjoy an experience that, somewhat indirectly, has been shaped by them.
The best part is that AI delivers insights at speed and scale. Therefore, organisations can always be acting on findings rather than stopping to take the pulse. What’s more, AI is synonymous with automation, which is a popular avenue for exploration at the moment. In particular, automation frees employees from repetitive, and often manual, tasks. This enables them to redirect their efforts on higher value tasks and work smarter. As a result, the organisation will enjoy heightened productivity overall.
We never like to leave our readers empty-handed, so for those of you considering AI-driven data analytics solutions, we highly recommend the Guavus offering. With Guavus, you can reduce costs while increasing revenue. Using the AI capabilities, organisations can more accurate and actionable predictions.
Guavus has a team of dedicated scientists behind it who have developed complex, supervised, and unsupervised self-learning algorithms to invoke reasoning. In particular, it zeros in on putting data into context to help you make better decisions based on behavioural insights.
Next, check out our CxO of the Week, Rajesh Gopinathan at Tata Consultancy Services.