Transforming Data into Strategic Assets

By Melody Smith|July 26th, 2024|News|Comments Off

The integration of artificial intelligence (AI) into business intelligence (BI) is revolutionizing how organizations analyze, interpret and leverage data. By enhancing traditional BI with AI’s capabilities, businesses can now transform vast amounts of data into actionable insights more efficiently and accurately. This synergy is driving significant advancements in decision-making processes, operational efficiency and competitive strategy. Morningstar brought this topic to us in their article, “Narrative BI Launches AI Data Analyst: Simplifying Data Analysis with Generative BI and Natural Language Queries.“

AI algorithms, particularly those involving machine learning and deep learning, have significantly improved the ability to process and analyze large datasets. Traditional BI systems often struggled with the volume, velocity and variety of data. However, AI can quickly sift through complex data, identifying patterns and trends that might be missed by human analysts.

The ability to analyze data in real time is a game-changer for businesses. AI-powered BI systems can process streaming data from various sources, providing up-to-the-minute insights. This real-time capability is particularly valuable in industries where timely information is critical, such as finance, healthcare and retail.

While challenges remain, the potential benefits of AI in BI make it a crucial component of modern business strategy. As technology continues to evolve, the integration of AI into BI will undoubtedly bring even more innovative solutions and opportunities for businesses.

Everyone is looking at AI. Everyone is getting mixed results. The main issue is that data science has not changed, and scientific content is very complex and needs more attention to get the most out of the new AI engines. This is not new for Access Innovations.

Melody K. Smith

Sponsored by Access Innovations, the intelligence and the technology behind world-class explainable AI solutions.

About the Author: Melody Smith

Melody K. Smith has provided organizational, social media and digital communication services to a large non-profit for the past twenty years. Prior to that she championed employee engagement and communications in the healthcare field. She holds a Bachelors degree in Marketing. When not wrangling and writing TaxoDiary content for your reading pleasure, Melody writes fiction, rescues dogs and throws legendary dinner parties.

Comments are closed.

Transforming Data into Strategic Assets