Integrating Artificial Intelligence with Analytics Can Increase the Relevance of Analytics!
Among the many uses for artificial intelligence (AI), analytics holds a particularly interesting position. While there is still a ways to go before the use of AI is generally accepted as being dependable, the use of AI in analytics can be very beneficial today, with the promise of even more benefits in the future.
Forbes states that, ‘AI/ML tools, approaches and algorithms can contribute to finding new business opportunities, market optimization and more effective marketing and sales.’
‘Integrate artificial intelligence (AI) and machine learning within your analytical environment, and leverage sophisticated analytics in an easy-to-use user interface to improve performance and user adoption.’
AI in analytics can include:
Real Time Insights: Integrating data and using AI and machine learning to search for and identify patterns and predict outcomes is crucial to capitalizing on opportunities and resolving potential issues quickly.
Relationships and Correlation: AI can leverage metrics and complex analytics to present information that identifies the relationships among variables, tasks and processes and, even more importantly, it can avoid focusing on issues that are not relevant to outcomes.
If your business is considering the use of artificial intelligence (AI) in analytics, you can expect to achieve the following benefits:
Customer Satisfaction: Artificial Intelligence and machine learning can enable meaningful insight into customer behavior so the business can better understand how and why customers engage and when and how they will decide to buy products and services. It can identify the best way to market and advertise to attract the target audience, and can create simple, personalized approaches to each demographic.
Reducing Costs: Refine your customer approach, your resources and your expenses to focus on what works and predict where you will need to alter your investments.
Competitive Positioning: AI can analyze and assess positioning, competitive products and services and look for opportunities to fill the gaps in service and product offerings.
Resource Optimization: Using AI in analytics can improve productivity for your team, allowing them to quickly gain insight and predict outcomes without spending an inordinate amount of time in manual analysis or working with data scientists, etc.
User-Friendly Results: AI can analyze data and produce results in a way that will help users to quickly understand results and use those results to take action.
‘The use of AI in analytics can be very beneficial today, with the promise of even more benefits in the future.’
Find out how Smarten Augmented Analytics Products can help your team and your organization. Integrate artificial intelligence (AI) and machine learning within your analytical environment, and leverage sophisticated analytics in an easy-to-use user interface to improve performance and user adoption.