siliconindia | | October 20219information over time, but it won't be capable to provide new insight into transforming data unless someone creates a dashboard that enables it to do so.Similarly, basic automation cannot respond to the general queries that pertain to diminishing performance and other factors. This typically needs hours' and worth of work by a data analyst, who is likely to still only sort a limited amount of data. On the other hand, a completely trained AI engine could provide results to multiple questions in a matter of few minutes.Possibly the ideal way to observe AI's contribution towards analytics is through one of the ancient analytical methods of all that is the cost-benefit model. On the cost side, it requires a fairly sizeable upfront investment, provided you are building the underlying foundation from the initial step. However, this charge would amortize periodically as output measures. On the brighter side, AI can chomp massive data than even a huge batch of analysts could, and it could draw data from an untold number of references to recognise problems or opportunities that would differently remain hidden.Conclusively, it would drive analytics capabilities into the hands of skilled workers who are the best fit from the insights customized to their unique difficulties, making the entire firm more valuable and prolific.The application of AI and the automation of activities could facilitate productivity growth and other gains not just for corporates, but also for the entire country's economies. At a macroeconomic level, we could estimate automation alone to raise prolific growth across the globe by 0.8 to 1.4 percent every year.For marketer working with analytics, business intelligence tools, or an analytics platform, the possibilities are that artificial intelligence could aid them to boost their revenue and cut down expenses. That means now is the chance to get initiate developing AI capabilities at their companies, irrespective of their skill or proficiency. This hints that they could build a conceivably unbeatable competitive edge. To slow down the process means you risk getting left behind.Data 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 models. The network effects of digital platforms are creating a winner-take-most dynamic in some markets. Although while the size of available data has increased exponentially in recent times, most organizations are attracting only a fraction of the potential value in terms of income and profit gains.
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