The AI Solution to the Big Data Problem
Big data is everywhere. Even small businesses can generate masses of data very quickly these days. There’s just so much of it. How on earth can it all be handled, analysed and presented? It seems overwhelming. How can you get the data to the people who need it, with the minimum of fuss?
Thankfully, the AI revolution of the past couple of years has given us some great tools to cope with the problem.
Business data insights
If you’re not making full use of data to inform your business decisions, you’re missing out. Businesses that don’t monitor their internal business data, using it to plan and adapt, will rapidly fall behind the competition in today’s digital world. But business leaders don’t always have the time or the resources to analyse the data themselves.
That’s where AI comes in. AI in this context refers to the use of complex algorithms and machine learning to aid data analytics. Basically, the AI will learn how to extract the relevant and most useful data, highlight trends, generate valuable insights and present them in a way that makes it easy for people to take action.
For example, an e-commerce business may want to get internal data on their customer base. The AI can sift through the data, finding valuable insights such as purchasing frequency, numbers of new and repeat customers, inactive customers, etc. When combined with marketing data such as ROI of a specific campaign, it’s clear to see how powerful these insights can be.
And the best thing is: it requires little to no effort on your part. That’s the beauty of AI. You can set it up so that the relevant people automatically receive data updates on a given schedule.
Some business data may be useful or of interest to the customer. For instance, the time taken to issue a refund may be a good statistic to include on the FAQ page of a website. Read more about AI driven FAQtool.
AI can provide a convenient way to automatically gather, interpret and display this data. The potential of AI to provide customers with a great user experience is exciting. Some companies already use data AI to make product recommendations to users, which are highly personalised using cookie data, customer profiles, buying history, etc.
Advanced self-service systems rely on data to offer support to buyers. If people are experiencing difficulties online, e.g., dwelling on a certain part of the buying process, the AI can detect this and offer support or generate an insight for developers to address.
Advanced AI algorithms
At 10+ we believe in staying at the cutting-edge of AI technology. We invest heavily in making sure that our algorithms are delivering the best results for our clients. Our machine learning experts program our AI systems to find the most relevant and useful data for your business needs. The beauty of AI is that it will learn from experience which data is most relevant and important. It will save you the time and headache of handling and interpreting huge amounts of unwieldy data. Read our XING Case Study.
Stephen J. Wright
Digital Transformation Advisor