In the midst of transformation, the prospect of Artificial Intelligence (AI) has never been more real. Already experts in computing and artificial intelligence are taking positions in the corporate world. What is it about this breakthrough that companies need to pay attention to?
The Global Business Intelligence Task Force (GBITF) concluded that the industry needs a data analytics database that serves as a foundation for future data analytics.
This will help the business of today answer its customers’ questions. If data is input into the database, it will be able to provide answers as well as recommendations. However, this enterprise-wide task force found that a step in the right direction will be needed before AI can truly impact businesses.
AI Predictions For 2020
The global problem of data privacy is growing more pressing than ever. For organizations that rely on data and who value their employees, it is essential that information is handled securely. With high-tech workers increasingly monitored at work, employees need the same level of security.
Data breaches in the past few years have been nothing short of embarrassing. Companies are not sure what to do when a breach is discovered. Where is the line between trust and security? Data protection agencies work closely with the businesses they represent.
Another concern is ensuring a safety net of data protection. When an employee accidentally deletes important information, data protection agencies need to be sure that no harm comes to anyone else. It is a given that their job is to protect the business by acting as its backup. They can perform this function by blocking access to data once it is revealed and by educating employees to use encryption and authentication tools.
There is also a need to build the data set in a way that allows it to grow more rapidly. For companies that require more than one data set to meet their needs, a partnership with data analysis service providers can be a boon. This allows the employer to collect and analyze data from disparate sources, allowing them to look at the entire picture.
Statistical Analysis Of Raw Data
Data analysis is not only limited to statistical analysis of raw data. Social media and online search are other new opportunities for businesses. An employee’s LinkedIn profile can be a powerful source of information when it comes to searching for another employee. Also, an employee’s Twitter feed can be an important resource for finding a new job.
Perhaps the most likely possible solution for data analysis is software that will be available online. This software can automatically take in data and translate it into visual representations. For example, it can process graphics to generate charts and graphs of data. Most analysts already possess this kind of computer-aided-skills.
Data is a useful resource, and many businesses are benefiting from it. However, it may be best to take advantage of the data sources available to find new ways to utilize it. Much like being in a lead from a car, it can be helpful to look at more than one source of data to get an understanding of the situation. This will give the business advantage and help determine the right course of action.
While there are many opportunities for automation, many businesses recognize that technology advances at an ever-increasing rate. As technology advances, it will become more important for organizations to understand how it will impact the future. One of the best options to ensure data integrity is by working with a service provider.
Whether companies are operating in the direct-marketing, publishing, or advertising arena, organizations will need to consider data analysis in the years ahead. With modern technology and advanced analytical capabilities, AI predictions for 2020 will be key to successful business operations.