How does AI help organisations take data driven decisions?

How would AI change decision-making for businesses?

According to several researches, it is said that 98% of the world’s data is generated since the year 2012. This is mainly due to the influx of the smartphone and digital era. With huge data records available and with AI, companies are now having interest to identify patterns in the data with data analytics. This pattern will help them strategize the future steps for their company.

Obvious to say, for humans to scan through the entire data will be an impossible task, let alone identifying patterns. Companies have achieved the same with help of AI tools like machine learning and data analysis tools. The machine helps cluster the huge data-sets into smaller, similar looking cluster patterns making it easier to monitor. The AI tool scans through the clustered data-set for any possible pattern and give meaningful insight to the company.

These insights would then give companies enough opportunities to sustain their core competencies and work upon the potential opportunities. These decisions taken based on the clustered data by the AI machine will surely give better accuracy. One can take examples from the online music apps and websites. Based on song preference patterns of millions of users, the AI tool can predict the next recommendation based on the song that you are currently listening to and possibly have heard in the past as well.

Moreover, these AI machines can retain the learning from historical data and apply it to the future incoming data sets. This will help in faster turnaround and easier identification of unfamiliar patterns. With the help of Artificial Intelligence, over a period of time, the company can maintain its AI database learning and strategies the next decision using the real-time data.

Ultimately, having the first mover advantage in the most desired potential market is what businesses across the world strive to do!

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