August 8, 2022

Artificial Intelligence Usage in Analytics: Methods

Your marketing program and business intelligence efforts are powered by analytics, but how much value are you getting from your data?

Artificial intelligence can assist.

AI is a group of technologies that excel at extracting patterns and insights from large amounts of data and then making predictions based on that data.

This includes data from Google Analytics, automation platforms, content management systems, customer relationship management systems, and other sources.

What Is Artificial Intelligence?

Your smartphone has a slew of AI-enabled features. These include facial recognition, which allows you to unlock your phone simply by looking at it (AI that sees). Voice assistants are also included (AI that hears and speaks in natural language). Don’t forget about predictive text (AI that writes in natural language).

Your smartphone has a slew of AI-enabled features. These include facial recognition, which allows you to unlock your phone simply by looking at it (AI that sees). Voice assistants are also included (AI that hears and speaks in natural language). Don’t forget about predictive text (AI that writes in natural language).

In fact, no matter where you work or what you do, you almost certainly use artificial intelligence on a daily basis.

All of this is in stark contrast to traditional software.

Non-AI systems, such as accounting software, rely on human input to function. People have hard-coded rules into the system. Then, to assist you with your taxes, it adheres to those rules to the letter. Human programmers are the only ones who can improve the system.

However, tools that use a machine learning algorithm (or several) can improve on their own. This improvement is the result of a machine evaluating its own performance as well as new data.

Imagine this power being applied to any data analytics-based marketing technology. AI has the potential to make everything smarter, from ads to analytics to content.

How Is AI Used in Analytics?

Before we get into AI use cases in analytics, let’s clear up some common misunderstandings about AI and advanced analytics solutions.

To begin, you’ll frequently hear people discuss predictive analytics, which is when a machine uses historical data to forecast the future. Many sophisticated predictive analytics solutions are powered by AI, so you may be looking at AI when you see the term.

The nature of the solution’s predictive model is the key here. The predictive model must learn and improve from its predictions in order to be considered true AI. So, when looking at predictive analytics solutions, inquire about how the machine learns.

Just a few of the top use cases are here for AI analytics today.

1. Search new tortious insights from your analytics.

Artificial intelligence is particularly good at detecting patterns and insights in large datasets that humans are unable to see. It also does so at a large scale and at a fast rate.

Today, artificial intelligence (AI) technology exists to answer your questions about website data analytics. (Think of it this way: “Which channel had the best conversion rate?”) An artificial intelligence analytics tool can also make suggestions based on what it sees in your data.

2. Predict outcomes using analytics.

AI analytics-based systems exist to assist you in predicting outcomes and successful courses of action.

AI-powered systems can sift through data from hundreds of sources and predict what works and what doesn’t. It can also delve into your customers’ data analytics and make predictions about their preferences, product development, and marketing channels.

3. Unify customer data and analytics

Artificial intelligence is also used to bring data from different platforms together. This includes combining all of your customer data into a single, unified view using AI’s speed and scale. Artificial intelligence can also combine data from a variety of sources, including those that are difficult to track, such as call data.

How to Get On track with AI in Analytics

If you’re a marketer who uses analytics, business intelligence tools, or an analytics platform, AI may be able to assist you in increasing revenue and lowering costs. That means, regardless of your skill or comfort level with AI, now is the time to contact with the best computer vision companies.