6 Ways Of Improving Business Value With Analytics And AI-Based Solutions

Marketing Team
Published on December 22, 2020

Artificial Intelligence and Analytics For Generating Actionable Insights

Digital tools with powerful AI and analytics capabilities make it easier to draw greater value from the data available with a company and resultantly, automate the complex, time-taking processes.

With the right set of AI-based business intelligence tools, the process of predicting future market trends and complying with it becomes much easier. Today, it is a widely accepted fact that for companies to be successful in the market despite the cut-throat competition, they must turn to data analytics. Its capabilities of gathering high-quality data from authentic online sources, sorting and analysing them to generate meaningful insights undoubtedly simplify decision-making. Analytics and AI can automatically complete iterative operations thereby, rendering users with enough opportunities to capitalize on the “inspect-and-adapt” approach and agile business models meant to design, execute and deliver projects way ahead of their deadlines.

Empower the Workforce With Relevant and High-Quality Data

Analytics and AI models are useful for uncovering hidden trends from large volumes of data and empowering users with valuable information necessary for formulating profitable decisions.

When your team is provided with a set of actionable insights derived from historical data and successful deals from the past, the scope of biases and guesswork is completely ruled out. The right digital transformation partner will also help you collaboratively map all your problems related to a certain project on the same platform and outline separate analytics and artificial intelligence solutions for them. Any project, regardless of the sector it belongs to, starts small and develops gradually with clients’ visions and objectives. Therefore, to ensure that the venture is heading towards the right direction, tracking and gauging every step, measuring the returns and evaluating the defined metrics from time to time is imperative.

Accelerated Development With Innovative Solutions

Microsoft’s robust business intelligence tools allow companies to ramp up their capabilities and fulfil various targets by making use of their end-to-end capabilities tailored to perfectly align with customers’ analytics journeys.

The thing about Microsoft’s AI and analytics tools is that they are accessible to everyone and can be used by any organization despite the industry it belongs to. The tools are packed with machine learning and cognitive capabilities which is why monitoring performance and reporting is absolutely hassle-free. The data is stored in cloud which implies that they can be accessed, updated and tracked from anywhere and anytime. Additionally, the scalable solutions are a perfect fit for companies that constantly strive towards improving the quality of their existing services and customer support. With such full-proof assistance, companies can re-evaluate their business models and incorporate advanced AI and analytics without any additional costs or technical expertise.

Improve Predictive Maintenance and Demand Forecasting

AI and analytics tools leverage cloud solutions and data science to aid organizations to gain greater control over business operations and manage their outcomes along with asset health monitoring, predictive maintenance and demand forecasting.

By collecting information from multiple online sources and comparing them with the data associated with the current ventures, analytics can spot concealed anomalies and alert the employees before they start growing in size. This approach of benefitting from the information that is already in store is crucial for companies to cut down extra costs, improve service uptime and shift to proactive maintenance. AI automates the procedures of extracting, identifying and analysing the terms and conditions, important dates and the entities involved in a contract. Following this, predictive analytics takes over and picks out the customers whose subscriptions or contracts are on the verge of ending for the sales team to follow up and get them to renew them.

Improve Customer Support And Engagement

Automated customer support tools like chatbots are becoming increasingly popular with companies that have large groups of audiences with variable queries to cater to.

In the recent times, companies are building chatbots based on powerful analytics that are capable of answering customer queries outside business hours. There is a set of most-asked questions that companies bank on for reference from time to time. Once updated with the appropriate algorithms, the analytics tools can understand and respond to common consumer questions and even resolve them without any human interference. With each passing day, these conversational tools are being programmed with the type of language that doesn’t sound too mechanical. This means AI and analytics can relieve the human workforce from investing their time and energy in areas that are repetitive and tedious.

Identify Real Data Threats And False Alarms

IT teams of several enterprises are employing AI and analytics to differentiate between false alarms and genuine data threats to save both time and resources.

Failing to separate actual cyber security threats from false alarms could cost companies a lot of time and cause a lot of distraction. Other than spotting the potential threats in your network, AI and analytics tools can locate software abnormalities that could let criminals in easily and discover software programs that have already been installed. These pieces of cyber information are constantly made available to the IT team through real-time dashboards so that they can tackle the issues proactively and save resources from getting drained unnecessarily.

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