Artificial intelligence is playing an increasingly vital role in our daily lives. From building things to self-driving cars, AI is getting smarter and more effective in carrying out tasks that make the technology worth the investment. Of course, non-tech businesses and industries might scratch their head as to how AI could play a role in their operations.
SwissCognitive Guest Blogger: Juno Yates
No matter the market or field, AI-powered analytics stand to be one of the most influential resources of the next decade for businesses all over the world. With competition across numerous industries increasing, delivering superior services or goods to consumers must be a priority in 2021 and beyond.
If you’re still unsure of why AI analytic tools are going to be so useful, here are three things every business stands to gain if they invest in the technology today.
Artificial intelligence still has a reputation to many as being some futuristic, abstract supercomputer application. In reality, AI shows up in our daily lives in more ways than you might realize:
- Automated chatbots help guide us through our favorite websites
- AI helps us imagine what new furniture might look like in our living rooms or what clothes might look like on us, all while we shop from home
- Major utility plants utilize AI to track everything from routine maintenance checks to predicting when issues might occur
- Vehicle assembly lines now optimize the construction of modern cars from the recommendations artificial intelligence programs offer engineers
It’s astounding what AI can do, but AI-powered analytics can do much more. AI-based analytics programs collect data at a large-scale level and produce reports as well as predictions for future action. Three aspects of running a business gain major insights from the use of AI analytics.
Beyond a chatbot that fields visitor questions on your website, AI can help to identify what users who complete a purchase of your goods or services want to see. Data collected by your website that already exists can provide numerous insights on how to improve the customer service experience to boost sales.
Things like exit points of website visits, captivating content that drives traffic to your social media channels, and more metadata already collected by your digital platforms are going to waste without the technology within AI-powered analytics. All it takes is investing in the technology for your business to begin reaping the benefits.
Don’t be scared by the concept of automation; this is not the phasing out of human employees to let computers take over. Rather than serve as a replacement for human employees, AI actually stands to benefit workers and provide improvements to the workplace.
AI-powered analytics in particular help to provide meaningful insights to sales, marketing, and administrative teams on ways to optimize their roles. From harnessing the power of data to predict the busier periods of the year to offering recommendations on how to waste less time chasing customers and more time converting them, there is a lot to be learned by automating aspects of the job that lead to more targeted productivity among your workforce.
Marketing and Organizational Strategy
Last but certainly not least, every business needs a plan to not only grow in the short-term but the long-term as well. When data is on your side, perspectives shift from predictions to knowledge about what you need to accomplish to meet organizational goals.
Key elements of marketing and organizational strategy often come down to knowing what customers want in order to either introduce new buyers to your ecosystem or keep concurrent customers coming back. That all becomes much clearer when data guides you towards new strategies to better serve your audience.
Of course, the main takeaway here is that these three benefits to using AI-powered analytics aren’t the only things you stand to gain. The power of data in today’s business climate is far greater than experts predicted even 10 years ago. Take full advantage of what AI can offer your business and transform your approach to analytics today.
About the Author:
Juno is a staff writer for Big Human and enjoys everything tech, especially AI and VR technologies.