siliconindia | | October 20218DATA AND ANALYTICS HAVE BEEN SHIFTING THE BASIS OF COMPETITION IN THE YEARS FOR A LONG TIME NOW. LEADING FIRMS ARE USING THEIR POTENTIAL NOT ONLY TO UPGRADE THEIR CORE OPERATIONS BUT ALSO TO DRIVE ENTIRELY NEW BUSINESS MODELSIN FOCUSROLE OF AI IN RESHAPING NATURE OF ANALYTICSBy si Teamrowing digitization paves the way for innovation analytics is no exception the fast-paced technological advancement has indeed transformed the business landscape. Technological advancement has transformed several aspects in the business arena, however, it has also aced in decision making as well. Basically, artificial intelligence is an analytics tool that holds the value for the ability to analyse even the massive data devoid of human supervision. The AI could identify the patterns and anomalies that could be utilized later.However, as human-driven analytics have been in use for several centuries now, long predating the modern computer age, will the adaption of the new age of technology transform the game? Also, how could the companies be certain if their money's worth as this technology is pushed into production environments?AI BASED ON CONTEXTThe fundamental factor that AI offers to analytics is context. When it comes to traditional analytics, the analyst was seldom a specialist in the process or system that is being analyzed. The analyst knew analytics, not marketing or data networking or sales. Their last charges usually needed the context that could only come from complete knowledge and experience.In an AI-based framework, an algorithm could be trained to understand the information it is analyzing and could then consolidate far more data at a much swifter pace to produce highly contextualized results. Eventually, this is anticipated to push these supreme analytics tools to the people who need them so the analytics experts could devote their time to what they do best: crafting the models required to make AI analytics more active and more precise.This demand for context is completely illustrated when applied to a common enterprise function, like marketing. Arguably one of the most data-intensive systems in modern business, marketing is often controlled to competing interpretations of the truth depending on the context in which data is presented.AI excels at predictive analytics, the ability to spot future trends based on past and current data, according to Mike Kaput, a chief content officer at Marketing AI Institute. This capability, of course, is like gold to a marketing team. At the same time, AI delivers prescriptive analytics -- the ability to make recommendations based on predictive analyses. In both cases, today's AI engines are capable of sifting through massive amounts of data to ensure these results are being presented within the full context of all available information, and they also have the potential to refine their algorithms to enhance themselves using their own previous analyses.UNDERSTANDING THE RULE This capacity to receive is one of the key contrasts between regular automation and AI. An automated system may still be able to get a lot of data, however, it is structured properly and developed to address the particular requirement for which the system was developed. For example, a simple broadcasting tool could be used to update itself with new G
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