Predictive Analytics & AI
The advancement of AI and predictive analytics has broader ramifications than just academic interest and can be said to now be one of the key drivers of a business or enterprises technological capabilities. AI and predictive analytics has helped drive both technological and process improvements from simple rule-based automation to something close to bordering on sentience.
Drive your company to the next level with the power of business intelligence and advanced analytics.
While many companies even now are still stuck to take advantage of data, analytics is key to predicting insights which can fuel business and process innovation leading to key competitive advantages. As of now many enterprises use descriptive analytics, applying Business Intelligence (BI) techniques to combine past data and get a quick review on what’s going on in the company, typically drawing data from either it’s Enterprise Resource Planning (ERP) system, Customer Relationship Management (CRM) system or other data sources to a data warehouse or data marts. This type of descriptive analytics is usually retrospective in nature and as such predictive analytics is more valuable in the sense it can be used to predict and model future outcomes of the business which will help to bring about process efficiencies which in turn will contribute to either increasing the top line or reduce costs.
AI and Analytics in tandem will help the decision makers within your organization to derive the maximum potential of the data lying within their information systems to better fuel growth and profit. However, there are some caveats that need to be noted when implementing AI and Analytics for your organization and that is where Cogniata can help you. For instance, it is necessary to capture the appropriate data in order for AI to derive meaningful outcomes. In addition, data privacy needs to be maintained because AI systems can accidentally misuse enterprise data in various ways the may damage the company’s brand and goodwill.