With the increasingly rapid development of Artificial Intelligence (AI) and Machine Learning (ML) technologies, it has become essential for many companies to integrate these technologies into their infrastructure and strategic business processes. In particular, by combining AI & ML strategies with traditional Business Intelligence platforms, companies can obtain added value from data and gain a competitive advantage. AI and ML systems, in fact, being able to mimic human cognitive thinking, open new doors for Business Intelligence.
Traditionally, Business Intelligence systems are used to collect, analyze and visualize data, generating in particular Reports and KPIs (Key Performance Indicators). However, the increase in the complexity and volume of data opens the door to more advanced technologies, capable of elevating BI from a descriptive to a predictive tool.
The natural evolution of Business Intelligence is achieved with the introduction of Artificial Intelligence, which allows companies to analyze large amounts of data, extract insights and significant indicators, calculate predictions on future trends, and even suggest business strategies
Advantages of AI-Powered Business Intelligence
Some of the advantages of AI-Powered Business Intelligence are:
Predictive Analytics
By analyzing patterns and trends in past data, ML models are able to make predictions about sales trends, customer churn, demand fluctuations, and much more. These predictions are an important factor in enabling a company to make informed decisions and mitigate risks.
Anomaly Detection
ML algorithms can analyze data to identify anomalies and possible suspicious transactions. The ability to identify non-standard patterns within databases allows users to further investigate and identify errors, raise alarms, and detect fraud.
Natural Language Processing (NLP)
One of the most important innovations in AI (and particularly in the field of Generative AI) is the ability to understand human language, particularly with the introduction of chatbots and other human-machine interfaces. The business user can ask questions and query the BI tool through simple questions and can get answers in the form of written text.
Real-Time Analytics & Insights
While traditional BI systems typically analyze historical data, thanks to the introduction of AI, they can gain the ability to analyze data in real-time, even when the amount of data becomes large. This is particularly important for industrial fields where the speed of decision-making must be high.
Personalized Recommendation
he ability of ML models to identify patterns and discover a logical/statistical structure within the data becomes very relevant for the creation of personalization systems. In fact, by analyzing the historical data of a user or a situation, AI can suggest optimal solutions or strategies for the specific case.
Artificial intelligence is now pervasive in all sectors of the modern world. To continuously improve business strategy and apply a “data-driven” approach, companies must update their BI tools as AI & ML systems evolve. The added value of AI-Powered BI tools is expressed on the one hand through an improvement in operational efficiency and a reduction in costs, and on the other hand in a push towards the future in business processes, using data as an engine towards new opportunities.
Leverage the power of AI to turn your data into a competitive advantage. Contact us to find out how AI-Powered Business Intelligence can optimize your decisions, predict future trends, and drive your company towards success.
We realize Business Intelligence & Advanced Analytics solutions to transform simple data into information of freat strategic value.
