Historically, intelligence has typically been seen as a trait that humans possess, but as technology has advanced, artificial intelligence has also become top of mind when it comes to the concept of intelligence. To take it one step further, it’s also important to look at the idea of business intelligence (BI), which encompasses the technology and strategies that companies are using to collect and use data. Although it may seem obvious that companies would be leveraging business intelligence, surprisingly many businesses are not taking advantage of the tools that can take their business intelligence to the next level.
Take machine learning (ML) for example. If you combine ML with BI, not only can processes be improved within different company departments, but customer experience can also be enhanced through added personalization capabilities. The data insights machine learning provides helps companies understand more about each customer and prospect who is interacting with their brand.
When it comes to data, ML improves the ability to analyze large sets of data very quickly. This analysis can then be leveraged however the company needs depending on their BI strategy. ML can also help monitor data through regular quality checks, including anomaly detection. With ML, BI can include real-time data analysis and forecasts for the future, not to mention protection from cybercrime.
BI on its own is an important asset, but by leveraging machine learning as well, the tech solutions and strategies used to analyze, interpret, and utilize data will be significantly improved.
Want to learn more about how machine learning can transform your business intelligence? Check out this article.