Machine Learning and AI Shaping the Future of Business Intelligence
FREMONT, CA: Being one of the key aspects to a company’s growth, Business intelligence domain is witnessing large investments. However, business intelligence requires analysis of large amounts of data that takes up a lot of time. With the advent of machine learning and artificial intelligence (AI), business intelligence has become more simplified. By enabling AI and machine learning in business intelligence, data analysis is done at a faster pace.
When data analytics is done by AI and machine learning, the process is continuous and optimized since the results delivered by them have a greater accuracy that is impossible for humans to achieve. Most importantly time and cost can be reduced with the help of Machine learning and AI. They have been applied to various tasks including cleansing and combining data, discovering new data, and suggesting new combinations of data. Both Machine Learning and AI make Business Intelligence more accessible, understandable, and actionable for many non-technical business users.
Nonetheless, there are various challenges in trying to adopt such advanced technology. With the natural language processing capabilities of AI and ML, the business intelligence systems can analyze data in a more intuitive manner, allowing them to make real-time recommendations. However, these recommendations being accepted by a human is a different matter altogether. There have been cases where sales team members have followed up on weak leads despite them having low predictive scores. Thus the future depends upon implementing the technology as well as ensuring that it is utilized effectively in the business.