Artificial Intelligence: Changing the Analytics game

The rise of the unstructured data source from varied avenues have on one side inundated the organizations with unrefined data but on the other hand, have given them fodder to decipher actionable insights from it. Due to the influx of “BIG DATA” it has become imperative to incorporate data analytics and AI tools into business operations, to make sense of the humongous data overload.

For instance, AI-powered predictive analytics capabilities are being utilized in every domain to determine customer responses and their purchasing decisions based on data models created using historical data. This not only benefits an organization in designing an influential marketing campaign but also help in formulating potentially profitable actions.

Analytics provides an opportunity for HR to predict the likely outcome instead of just describing it. The HR analytics provides metrics on staff performance, turnover, processes, and strategies, based on which the organization can channel their time and money on critical initiatives. All the firms nowadays are looking for candidates who exude an all-around personality apart from the necessary work-related skillset. AI-powered automated video interview analytical tool, rates the prospective employee’s body language, tone modulation, and facial contours to make an unbiased assessment.

AI analytics are triggering an acceleration in fast-tracking business decisions, by leveraging their data in optimizing their processes. For instance, in the healthcare sector, machine learning models use echocardiographic data to predict and improve mortality predictions. Companies have invested big time into AI-powered software which utilizes real-time online data to predict and continuously update data models to provide actionable insights into the latest trend.

The supply chain operations are mainly based on forecasting. The supply chains must ensure that the right products are made and in the right quantity and displayed in the right places to have the maximum prospect of a sale. AI’s predictive analytics feature provides a comprehensive overview of the stock requirement based on sales forecast across various distribution centers. It can also suggest the best transportation mode based on weather, congestion and even industrial action.

Takeaway

In today’s competitive landscape, in order to remain relevant, organizations cannot ignore the impact of artificial intelligence analytical capabilities. It’s inevitable and a matter of time when AI analytics will ensconce itself in every facet of business process lifecycle. The AI analytics has been a game changer in terms of throwing actionable perspective into unstructured data and driving data-driven decision making.