Written by Arpit Dhanjal
Businesses these days revolve around the data. AI and big data like technologies are evolving like a key player in transforming modern business operations. Businesses these days are making use of this technology in business intelligence decision-making, pattern analysis, predictions etc.
On applying big data analytics on stored data, businesses can collect useful information from them. And, the advanced AI algorithms are used to get useful insights from consumer behaviour to understand ongoing trends and stand tall among competitors. Let’s explore these benefits in detail:
Inventory management is tied up with the wide range of activities involved to accomplish a task. Activities like add or remove fields, update, stock maintenance and monitor all the warehouses or retail shops. With AI technology, businesses can apply predictive analysis on their inventory data. Thue, they will able to extract useful information from previous data and know the current and future demand in the market. Making your inventory smart will make you to clearly understand the clients. The business owner can understand the real-time and future demands for managing inventory accurately. Big data analysis helps organisations to predict the upcoming trends of the industry. Forecasting sales assist businesses to monitor inventory purchases.
A Gallup study says that around 70 percent of employees don’t work with a will. They are even not completely engaged to work and the only reason- they’re not happy. If you are a business owner, it’s your responsibility to achieve ergonomics in your company environment. You should understand what kind of obstacles are making your organisation toxic. Artificial intelligence has emerged as a powerful tool which helps in building this engagement. There are tools like Tangowork which allows the employee to voice out their concerns which they don’t discuss with HR. Thus, it creates an improved friendly environment.
The incredible predictive analysis feature of AI helps an organisation to understand the variable needs of their consumers. AI enabled programs such as GPU database keeps customer information and analyse this data to predict their behaviour. Organisations use this service to align their client preferences to enhance their experience.
Consumer behaviour is continuously changing. Understanding customer behaviour to multiple digital tools is not a simple task. Artificial intelligence in marketing help businesses to target appropriate audience for their advertising. This technology is very useful to get prospect customers- such as AI will recognize the best way to target a customer through messaging or other.
Big data is not something which can be directly applied to clients. Every organisation uses it in internal processes. They can use to monitor employees performance, designing accurate delivery models, predictive maintenance etc.
Few companies are using this technology to create a smart workplace. These quantified workplaces have interconnected sensors to monitor their employees. These sensors have the ability to track voice, stress, the health issue and many other factors.
There are people who have become fraudsters of the digital world. While businesses are using AI enabled tools to protect against the fraud schemes. Thanks to technologies like speech recognition, machine learning, NLL, video recognition etc for making effort to resolve such complex issue. If you want to explore these AI technological flow, you can join Artificial Intelligence Training accessible over the internet.
Huawei Technologies, a giant in networking services, leverages a technology called as translytical database. It helps them to detect transactional frauds in real-time. Every time a card is used, AI-powered algorithms identify the fraudulent behaviours based on the big data based on analysed historical data.
Click frauds (fraudster clicks on an advertisement) are also rising in figures. Advertisers need to monitor each click to observe such anomalies. For detecting such frauds they require a database which can classify large streams of traffic. This is the hidden power of big data and AI in detecting anomalies.
The digital world is full of competitions. Organisations are providing their full effort to grab the best talent from the market. According to the Forbes report, it has been estimated that the entire global recruitment market has reached $200 billion. AI has made this recruitment process easier for HRs. It has reduced the time and efforts they were putting on screening and researching candidates with the automated applications. They can perform these tasks in the just few seconds.
Thus, we can see how AI and big data are transforming the future of businesses with incredible tools and techniques. The upcoming business future is bright and clear with automation and real-time operations.