Big Data, Business and the Future

The ability to identify and understand hidden patterns and correlations in large volumes of data and use them to make business decisions is becoming a strategic competition for companies for the future.

Thursday, December 12, 2019

Machine learning and statistical analysis are some of the most popular techniques used today in artificial intelligence (AI) applications. Automatic learning is the AI technique for identifying hidden patterns and correlations in a large amount of data that humans cannot identify on their own, explains Brian Ka Chan, technology strategist and researcher at Smart City.

An article published by Medium.com states that "... the data will be the basis for the development of artificial intelligence. According to research, 85% of business leaders believe that artificial intelligence is a strategic competition in today's businesses ... the better the fuel used in a car, the better the chances of winning the race in the long run."

You may be interested in "Business: Big Data and Subscription Models"

In order to apply AI techniques, as a method to extract values from your most important assets and manage the strategy properly, it is essential to organize the data so that its management is done safely and integrally.

Also see "No Decision Made Without First Analyzing Big Data"

Only with reliable and accurate data can appropriate business strategies be adopted, because for Ka Chan "... the most important ingredient of automatic learning is not the power of computer equipment, because while more processing power can train the machine faster, it will not change the quality of the results."

See full article.



More on this topic

Data Governance and Business Costs

January 2020

To effectively apply data analysis tools on a large scale, the proper structuring of the information is essential, otherwise the cost that the company will have to incur to reverse the errors will be very high.

Data governance, which encompasses the set of processes, functions, policies, standards and measurements that ensure the effective and efficient use of information, becomes relevant to enterprises, which increasingly benefit from the use of machine learning tools and statistical analysis.

AI and Sales Strategies

January 2020

For companies, it is increasingly essential to support their strategies with artificial intelligence (AI) and "machine learning" tools, since these systems have the ability to suggest the best combinations of offers to ensure sales success.

For sales software used by companies, artificial intelligence (AI) and machine learning have become essential, because only in this way is it possible to successfully analyze the large volumes of information generated from information systems that record customer data.

Internet Searches and Consumer Preferences

June 2019

The information deriving from the searches made by people in a social network or a website can be analyzed through Big Data techniques, allowing the identification of consumer habits and their potential for growth.

Every time consumers enter the Internet and conduct searches, their transactional historical information, including geographic location data, customer behavior across digital channels, financial options, tastes and interests, and even their propensity to leave brands, among others, can be collected and leveraged by businesses.

Big Data and Business Growth

April 2019

Having the required resources to manage the data needed to make decisions is crucial to the success of businesses in today's environment.

Today's data savvy organizations, those with a top-down approach to decision making, do a better job of extracting value from the data, explains a Coursera publication.

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