Today, the world is entering into a Data-Driven environment where Data is becoming the oxygen for organizations and individuals. In this new era, ruled by Data, AI & Big Data are gradually emerging as the Vital part of Day-to-day Business activities and Business Intelligence Decision taking.
Due to the advances in intellective computing, Big Data and AI, Companies can now use knowledgeable algorithms to know about consumer behaviour, Use the real-time Insights to make informed decisions that take them one step ahead of their competitors.
AI is an Innovative technology which is using the Machine Intelligence to achieve human Goals and Big Data is a giant bucket full of Data which serves different purposes.
Application of AI in Business
Artificial Intelligence helps to make our business easier. It can serve Different department of an Organization, whether it may be marketing, sales, customer support, and even recruitment also. Automation is the biggest achievement of AI in the IT industry. Following are some of the major applications of AI in business :
1. Reducing Manpower investment.
The evolution of Automation is helping in reducing manpower cost and optimise the use of capitals, which is being a big Blessings for startups & medium-sized enterprises.
2. Image recognition (computer vision)
AI is frequently being used in industries such as advertising, insurance, and travel and leisure for Image Recognition Purposes.
3. Natural Language Processing
AI enables machines to analyse customer conversations and extract insights on customer behaviour.
4. Business Intelligence
There are several software applications based on AI such as SAP, Domo etc. which are a must have importance in Business intelligence.
5. Monitoring Purposes
In industries with Giant and Heavy machines, artificial intelligence acts as a helping hand in the monitoring of machines, identifying problems and tracking their repairs.
Using Big Data in your Company
As stated Earlier, today is the era of Data-Driven Marketing. Every organization whether Big or small needs insight of the market and the Precious Data. Big data is the giant bucket full of precious data which can be used as an Asset for the growth of a company. We are Discussing some of the following areas where Big Data can give you an edge over your competitor:
1. Market Research
Big Data plays crucial roles in understanding the behaviour of the customer and their Demographics. It also helps in requirement analysis of any product or services.
2. Data safety
Data is more precious than Golds these days and hence Data safety is a major concern for companies. Using Big Data makes the awareness about the internal threats to the databases, and this early awareness makes data safer.
Analysing risk before launching any new product or service is a big issue of concern for Startups & running Companies, and Big Data is becoming a key player in risk analysis in a scientific way utilising the available data and insights
It is now a well-known fact that AI & Big Data is emerging as the Backbone of industries, however, it is not so simple process for companies to incorporate AI & Big Data into their existing Business Intelligence System. So, organizations should adopt the relevant skills to employ these technologies in their Business to Boost their Growth.