AI & Big Data helping customer analytics & business intelligence
The present era is known as the era of big data engineering. It is difficult to estimate when big data engineering came into existence. This is because the scientific domain was entrenched in big data with the onset of the digital revolution.
Big data is not just about mining and analytics of data. It is about developing our future capabilities in such a manner that we can handle the upcoming data waves in the future. For this, various training institutions are coming up in various parts of the country. For instance, an ecosystem of training institutions is coming up and providing big data training in Bangalore, Delhi, and Noida. This ecosystem comprises tech-savvy professionals, data training institutions, and other tech giants.
The juxtaposition between Big Data and AI
The scope of Big Data Analytics is being expanded by the tools and techniques of artificial intelligence. Artificial intelligence algorithms are playing a greater role in processing large data sets and deriving precise insights from them. On the other hand, the power of big data is being harnessed to improve our AI and machine learning capabilities.
Both artificial intelligence and Big Data Analytics are supplementing each other and the benefit of this is being reaped by a large number of sectors. Some of these sectors include business intelligence, e-commerce, logistics, retail, financial services, and the like.
AI in the aid of big data
The world has been immersed in the internet to the extent that consumer habits, personal recommendations as well as preferences are being dictated by the search engines and the processes running behind them. Data is being collected from social media accounts, online profiles, and other online activities to construct a customer profile which can then be used for commercial purposes. For instance, the browsing history, as well as the cookies, enable us to store information regarding customer choices. When we generate data of this type from millions of customers worldwide, we get a repository of data that is popularly called big data. For its analytics, we required the power of artificial intelligence, machine learning, and advanced algorithms so that powerful insights can be derived. For instance, with the help of advanced algorithms, detection of outliers in the data sets is possible. Consequently, we can segregate important data sets from less important ones.
Customer analytics has reached a new level with the help of juxtaposition between artificial intelligence and Big Data Analytics. Consider a startup that wants to make a mark in the e-commerce sector. However, the e-commerce sector is already dominated by tech giants that are equipped with state-of-the-art analytics capabilities. If the new startup is equipped with powerful analytical capabilities, it can identify the type of products as well as the nature of customers that it needs to cater to. It can start by targeting specific areas where it can provide speedy delivery of products to its customers. All this information, planning, and progress are only possible if two important prerequisites are met. The first is Big Data Analytics and the second is artificial intelligence capabilities. We may conclude that the juxtaposition between Big Data Analytics and artificial intelligence is a lifeline for new businesses and all those startups that want to compete in the age of industry 4.0.
As per a report by Statista, we can automate about 75% of the physical processes, 68% of processing tasks, and 60% of data mining processes if we adopt the tools and techniques of Artificial Intelligence and Big Data Analytics. This means that the businesses that develop capabilities related to artificial intelligence and Big Data Analytics will have an edge over other businesses in the future. Such businesses would prosper by improving their real-time analytics capabilities as well as business operations. The tools and techniques related to AI and big data would aid in effective decision-making for businesses. This would have a positive impact on business prospects and lead to long-term business growth.
The way ahead
There is not the slightest doubt in the fact that both AI and big data would help in improving business capabilities. However, a report by Statista points out that less than 50% of the system engineers have the expertise to negotiate with new generation technologies of artificial intelligence, machine learning, and Big Data Analytics. So, the need of the hour is to invest in the training and professional development of our engineers so that there is a smooth technological transition in the times to come. The best solution that is available for business organizations is to conceive small incubation centers that can aid in the professional development of engineers and prepare them for the future technological era.
Customer analytics has reached a new level with the help of juxtaposition between artificial intelligence and Big Data Analytics. Consider a startup that wants to make a mark in the e-commerce sector. However, the e-commerce sector is already dominated by tech giants that are equipped with state-of-the-art analytics capabilities.
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