Last Updated: June 22, 2018
Twice a month, we bring you headlines from around the industry to keep you informed of the latest trends and conversations. Whether you are in IT, finance, sales or marketing, we are your go-to source for how the intersection of predictive analytics, machine learning and AI is transforming business planning.
Data-driven operations are the new normal
In today’s extremely interconnected business environment, technology like IoT, artificial intelligence and advanced analytics applications are changing the lives of consumers, retailers and manufacturers alike. As this trend continues, and technology advances with it, smarter, analytics-driven operations will be the new standard across almost every industry, especially manufacturing.
In light of this, should data scientists should be the new factory workers?
Yes, according to this article. Increased automation, driven by data science and fed with high-quality data, could increase productivity dramatically and help regions with high labor costs stay competitive. Read more.
Artificial intelligence is here to stay, but consumer trust is a must for AI in business
Predictive analytics has proven itself as one of the most useful applications of artificial intelligence, and sales teams are starting to take notice.
While this technology can be a key tool for sales teams to collect and analyze data about their customers, they must be vigilant in preventing AI from replacing the human touch in the sales process, as 41.5% of consumers could not cite a single example of AI that they fully trust. This is especially true in industries that traditionally require high touch like financial planning, hiring services, medical services, etc.
This Forbes article has more on how consumer trust is more important than ever for companies betting big on AI.
Predictive marketing: Taking the guesswork out of adverts
In the marketing realm, knowing where your customers will be and what they want next has historically been more art than science. However, technology like artificial intelligence, machine learning and predictive analytics have changed the face of modern marketing.
How so? This advancement in technology has given birth to predictive marketing, allowing brands to deliver cross-device, always-on, always-relevant experiences to a near-infinite number of people, instead of being limited by segments. This creates more accurate and detailed customer personas and provides actionable, data-driven insight for marketers to take advantage of.
This Information Age article details the advantages of predictive marketing and some of the insights that can be gained when implemented properly. Read it here.
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