Data and AI: Gearing Towards a Data-Driven World
Data is the new oil, they say. Thanks to the emergence of data and artificial intelligence in the modern age, more extensive information and technologically-advanced movement and innovations are now at the forefront of decision makers.
With machine learning and artificial intelligence at its core, digital transformation has only been expanding and growing in recent years, at a phase only those agile companies can catch up with. These advancements have a significant impact especially to decision makers because they make huge amounts of senseful data available at their fingertips.
On Speed and Transparency
One of the biggest advantages of an automated and data-driven AI system is that it has the ability to respond to queries quickly and accurately, including strategic questions. Data and artificial intelligence are not only providing answers more quickly but also creating transparency around issues that have always been murky. For instance, instead of being paperwork-based, geolocation data and satellite imagery can now be used to track physical supply chains where real-time snapshots are utilized.
On Refining and Connecting Data
Data is abundant and can be often overwhelming and difficult to utilize unless organized and categorized in ways that are meaningful to the business. This is why firms that are specializing in refining varieties of complex and even messy raw sources to be fed to machine learning and AI-powered tools for analysis are beginning to be carved out. These firms are gathering, cleaning, and updating data on points of interest, building footprints, and foot traffic to make it quickly usable by apps and analytics teams.
On new tools that can get you in the race
Gearing towards a data-driven world can be both overwhelming because of the huge technical requirements and adjustments that it requires. The companies that have been able to remain agile are those that have access to data science and are able to utilize it well. But other organizations do not have to worry about getting left behind because there is now a growing range of tools available that can help them catch up. These new platforms and analytics tools are leveling the playing field—as is the vast array of data that is free, open, or available at relatively low cost.
Apart from these tools, there are also many agencies focused on helping every company or organization be at par in a data-driven world. Croyten is on the forefront and a leader in providing data analytics and AI based services that are driven by business models, strategic goals and most importantly data governance. We use best of breed software to achieve our client goals.
Data comes from a staggering number of scope: from satellites, sensors, web traffic, imagery, digital applications, and credit card transactions. However this ever-expanding amount of available data can be overwhelming for some decision makers and organizations. Therefore it is only natural that we discuss how the landscape of the digital world is changing to be able to know the strategies necessary to be taken to ensure that no organization is left behind.