Do you know Dividev as a software development company?
Technology and software development has become a primary necessity for business and everyday life.
Could you conceive of your company’s processes without email communication, computers, inventory management tools, location mapping, or data storage in the cloud? The answer is most likely no.
We entrust activities to technology tools because they complement human labor, free us from many small (but essential) responsibilities, and allow us to focus on other more transcendental activities, such as business strategies.
Just as you cannot conceive your business without commercial software tools, when you get to know the benefits of a customized tool developed by a software development company like Dividev, you will be amazed by the results you can obtain. Read on and discover them.
About Dividev as a software development company:
We are a digitally company that helps organizations that want to innovate and achieve their technological transformation.
Innovation: It is an essential pillar in our software company, which is all about capturing our customers’ ideas, taking them to their full potential, and effectively transforming it in cost-effective and scalable solutions.
Digitally native: We are a company that offers technology teams or highly skilled professionals under the nearshore modality. We have 25 years of experience supporting digitally USA & World Class clients through Development Centers in the Americas.
Technological transformation: Our focus is on growing our customers through software solutions based on artificial intelligence, data science, machine learning, and other intelligent and robust technologies.
Learn about our value proposition as a software company
We use agile frameworks of innovation and software development to guarantee you tailor-made solutions that are timely and exceed your expectations.
Use artificial intelligence, robust technology stacks, and high-level professionals to achieve the best possible result in each of the implementations and solutions we develop.
The best possible cost-benefit ratio. We work with the nearshore modality because it allows us to access high-level professionals in Latin America, so they share similar cultures, same time zone, and language (English) with you.
Why is it important to know Data Science courses and workshops? The most valuable asset of the present and the future is information. We generate data through our searches, consumption, locations, interactions, and other actions that we all have daily on the Internet.
Information has revolutionized the world since the arrival of search engines like Google and social networks. That is why whoever wants to capitalize on a market must collect data about their customers, but it is necessary to know what to do with it too.
This is how data science became one of the most decisive disciplines for the commercial area of all industries in the world. Its mix of technology and software development makes the discipline challenges.
We created a compendium of top Data Science courses and workshops that we consider valuable for anyone interested in data science because of:
✅Have a digital business
✅Plans to have one
✅Is a digital freelancer
✅IT or Marketing Manager
✅The leader within a company
✅Participate in decision making
✅Or even want a promotion, making the company you are part of more and more PRODUCTIVE.
But first, let’s talk about what is data science?
It is an artificial intelligence technique where large volumes of information are collected and analyzed and then is determined the best way to handle and interpret it.
Discover trends, predict the future, and anticipate it with strategic decisions.
This discipline combines software development techniques, computation, probabilities, management, and even new technologies such as machine learning.
It is presumed that specialists in this field will be the most demanded in a few years, along with software developers and marketers.
Suppose you do not want to be one of them, but you are part of a company. In that case, you must know about data science to take advantage of its potential or hire the right person who will take the productivity of your business to stratospheric levels with the help of the data management of your customers.
As we are clear about the importance of knowledge, we continue to move forward with the proposals you can get today in the data science training market. ⬇️
Top 5 Data Science Courses and Workshops this 2022
There are ten introductory courses to data science as a discipline.
You will learn:
The entire data science process, from acquisition to publication.
You will learn about the Github repository to manage data science projects. And perform regression analysis, least squares, and inference using regression models.
You will learn basic concepts, the right questions to ask to drive the process, and the necessary tools. And you will develop a final project to apply all the skills learned by building a data product using real-world data.
In the end, you will be able to use this first project as a portfolio.
Although this course is introductory, it requires participants to have basic knowledge of Python and be familiar with the basic concepts of statistics and linear algebra, such as mean, median, mode, standard deviation, correlation, and the difference between a vector and a matrix.
This is a Bootcamp where you will learn the basics of data science, the leading technologies, the principles of machine learning, and even have a simple but practical coding experience.
It is designed for six weeks and is 100% online.
Like the previous one, you will develop a final project, which you can use as a portfolio.
This introductory course is part of the university’s Data Science Professional Certification Program. In it, you will learn popular machine learning algorithms, principal component analysis, and regularization by building a movie recommendation system.
Its focus is on machine learning under the same logical scheme that data solutions are built.
You will learn about training data and how to use a dataset to discover potentially predictive relationships.
You will also learn about overtraining and techniques to avoid it, such as cross-validation.
As we mentioned in the previous course, machine learning principles are related to data science. In fact, it is advisable to learn both together to understand the processes better.
Therefore, we did not want to overlook a course on this discipline in our list of recommendations.
You will learn the complete data research process through a machine learning lens. You will be able to extract and identify useful features that better represent your data, some of the essential machine learning algorithms, and how to evaluate the performance of your machine learning algorithms.
This is a free, 10-week beginner course sponsored by UDACITY.
We could not leave out our Workshop on Data Science, Machine learning, and AI, all fundamental concepts related to the predictive analysis of data and a company’s success.
Our specialists prepared ten videos in which you can learn basic concepts of these disciplines. Application models, technologies, and many valuable tools to start your career as an analyst and data scientist, or even make the right decision about the team you will have in your company.
As we commented before, it is not depreciable knowledge because it represents the present and future productivity of many companies.
To be able to predict your customers’ behavior to offer them solutions. Anticipate some changes in the industry to make strategic decisions that will help you be more efficient in your processes.
These are just some of the advantages we want you to take advantage of with our Workshop.
Data science applies to all industries without exception.
Imagine being able to predict another pandemic and, this time, being prepared? That’s the power of data science and another concept we’ll look at another time: big data.
We invite you to get trained in the subject with any courses and workshops on data science that we recommend. Once you know about it, you can learn about our offerings and consider them based on your knowledge. We are at your service to support you in this area.
Imagine that you can know all the critical data about your ideal client, their interests, pain points, desires, emotional states, searches, etc. Then you interpret this information, and you can predict their response because you build a travel offer according to their current state.
This guarantees a purchase and, more than that, loyalty because you hit the nail on the head with what they were expecting.
Although this premise seems to be taken out of a science fiction movie, it is possible thanks to artificial intelligence and data analysis as a solution within this intelligent world of technologies.
In the tourism industry, affected by the effects of the pandemic, this could mean the difference between recovering in the short or long term. Read on to learn more about how you can turn your business around by applying an innovative data analytics solution.
How can data analytics drive the travel industry and potentially your company?
1. Analyze the GDP, which sectors have contributed to the industry, and to what extent.
2. Analyze the critical actions performed by your competitors (market analysis).
3. Analyze your actions and strategies vs. the results obtained to optimize efforts.
4. Your consumers’ behavior in social networks and search engines.
5. Find more easily the actions taken by governments, tourism offices, and entities involved in your industry that may favor your commercial development or harm you.
6. Statistically analyze your growth or loss
7. Make future projections about the behavior of your market based on past information (it happens from the moment you implement an intelligent data analysis solution).
8. Identify which actions are good (to reinforce them) and which are not (to improve them).
9. Discover new routes, destinations, or travel intentions (users are constantly changing).
10. Identify new services that you can include in your commercial value proposition.
11. If you wish, even forecast data on future pandemics or disruptions in the global status quo to make provisions for them.
Data analysis as a technological solution can provide many answers that even our human mind cannot understand, and it would not be the first time this has happened. All artificial intelligence algorithms are developed to improve themselves as they obtain more information and suggest new trends or discover things we never imagined without us explaining it because it self-manage their intelligence from the data it collects. Sounds interesting, doesn’t it?
You can develop a data analysis solution for your tourism business with our team. Please find out how we can help you.
Success stories of data analytics application in the tourism industry
KAYAK integrated with ALEXA skills
This company currently offers its users the possibility to perform a voice search with simple parameters such as:
Alexa, ask KAYAK where can I go on vacation in October for $1,000?”
In response, that person will be able to track flights, book hotels, search for destinations, and take into account the data that Alexa itself collects about him. That’s the promise of KAYAK.
By providing access to information to your customer, you increase the chances of purchase and get valuable information that you can then use to your advantage.
Airlines such as United Airlines and even airports, such as Amsterdam’s Schiphol Airport, use big data and data analysis to detect fraud and errors in flight allocation, analyze customer behavior and even measure customer satisfaction through the data generated every time they use their services.
This may sound invasive, but it is the opportunity to improve your users’ experience through personalization, which seems to be the critical factor for future success.
Do you want to know how we apply AI and data analytics solutions with our partners?
Let us schedule a no-obligation exploratory meeting if you feel attracted by the results you can enjoy. And if not, you can also contact us to know the scope and even the profit you could generate from implementing an intelligent data analysis solution in your tourism company.
Analyzing and strengthening the cybersecurity of a business system today is beyond human capabilities. There are more and more advances in automated and bot-borne cyber-attacks! How to respond? With a similar strategy as a customized artificial intelligence solution to strengthen your company’s cybersecurity. Read on if you are interested. ⬇️
Why artificial intelligence and machine learning have become essential for enterprise cybersecurity?
Thanks to data coverage, artificial intelligence solutions focused on a company’s cybersecurity can identify many types of threats, from malware that exploits zero-day vulnerabilities to identifying risky behavior of human teams that could lead to a phishing attack. Artificial intelligence sees and analyzes everything, and you can leverage this to your company’s advantage.
Other benefits of artificial intelligence for cybersecurity
You can perform predictive analysis of attacks based on language processing and curation of content entering the company’s communication channels—for example, articles, news, studies, etc.
Perform obsolescence analysis of the company’s systems and even schedule updates on time.
If you have a remote team, an artificial intelligence solution could extend protection even to those endpoints, representing the weak link in the chain, not because they are in skills, but because they work from a network that you cannot control (in theory).
Application of AI in cybersecurity
Remember that AI is ultra-complex algorithms developed to solve incognitas or problems. This same principle is applied to cybersecurity.
Some specific applications of this technology within your organization are the following:
Perform periodic inventories of IT assets, i.e., all devices, users, and applications with access to sensitive information sources.
Provide knowledge and updated analysis of the latest attack technologies (even automated).
Adequate cybersecurity point controls, i.e., understanding the strengths and vulnerabilities of your systems and even your team members, to make them less prone to cyber-attacks.
Incident response. In case of attacks, you can have an artificial intelligence tool to counteract the effects. In other words, an “intelligent” defense protocol.
Some examples (early adopters) of artificial intelligence for cybersecurity
Google: specifically with Gmail, using for years automatic learning protocols to understand your habits, language, preferred contacts, as well as dubious, possibly malicious emails, etc.
IBM: with its Watson platform, they use cognitive learning for threat detection.
Balbix Security Cloud is a platform that performs observations and analysis to provide continuous and real-time risk predictions, risk-based vulnerability management, and control of security breaches in systems.
These are just three commercial solutions, but the alternative of developing a customized tool is always on the table. In the end, it is an option tailored to your company’s needs.
Do we believe that artificial intelligence will completely dominate the enterprise cybersecurity landscape?
We think so because it complements and facilitates security teams’ work and has a real-time and even predictive coverage of cyberattacks, superior to the human one.
Intelligent cybersecurity solutions are becoming more and more popular, and we aim for this 100%.
We have a team trained in the field to support you with this task. Contact us if you want to start planning your artificial intelligence solution for your company’s cybersecurity today.
Do I Need an Artificial Intelligence Solution for My Business?
The answer: 57% of 1843 companies worldwide use and leverage artificial intelligence in their operational and marketing processes after the impact of the pandemic, and all claim a company grew and more productivity at least 5% after its implementation.
What Can an Artificial Intelligence Solution Do for Your Business?
Artificial intelligence is an algorithm developed to assimilate human activities, such as problem-solving, learning, creativity, planning, and reasoning, among others.
It is intelligent software development. Sometimes, these algorithms are implemented in machines or robots, focused on learning (machine learning), or incorporate hardware and software interconnected thanks to the internet (IoT).
No matter which AI solution you apply in your business, you will be able to enjoy in general:
✅Automation of processes (repetitive ones)
✅Decreasement in the margin of error
✅Reduction of operating costs
✅Improved customer service
✅More efficient information management
✅Real-time monitoring of your operations from anywhere in the world
✅Greater efficiency and effectiveness in your processes.
Specific benefits of AI for businesses
1. Why does AI in my business increase efficiency and productivity?
Technology tools can manage tasks on a scale that humans cannot.
They can work indefinitely, more accurately handle the completion of repetitive operations, and automate previously manual tasks.
Putting these qualities into a human-driven production process makes the result more efficient and effective.
This does not mean that artificial intelligence solutions replace human labor. Instead, they complement it and make it less error-prone.
2. AI speeds up all activities, including ROI
Making the work more efficient reduces the time from step 1 to the commercial phase.
If you produce and sell faster, your return on investment will also come sooner.
By having shorter production and commercial cycles, your customers will be more satisfied. Immediacy is the most outstanding quality of the new era of consumption.
Users want everything right now. Do you feel ready to take on that challenge? If the answer is no, an artificial intelligence solution can help you be.
3. AI provides efficient information management and opens up business opportunities
One of the most exciting aspects of artificial intelligence solutions is the ability to store, access, and, above all, interpret process data.
This quality allows you to access at any time and to have performance statistics to reinforce critical aspects and know the development of your operational and commercial processes with greater detail and precision.
It also allows you to analyze where are new sources of revenue for your company.
For example: if you are a tourism company, with the help of artificial intelligence, you could perform predictive analysis of your customers’ purchases and segment them by destinations/seasons of the year, among other aspects that may be escaping your and your team’s sight.
This way, you can make strategic decisions that allow you to create new packages or offers according to your consumers’ behavior.
Implementing an artificial intelligence software solution is a win-win strategy.
4. Artificial intelligence in my business can improve customer service
The difference between a productive and well-positioned company, and one that is not, usually falls in customer service.
How can artificial intelligence support you with this work?
You can develop a tool to load all the data you have about your customer, including their profiles, interests, etc., and get new solutions from it.
Another idea is the generation of chatbots to attend to customers’ requests on time. Or create a tool with which your customer can track their order/shipment, and so on.
There are many other possibilities to develop and improve your consumers’ experience with your brand. Artificial intelligence facilitates this path and digitally transforms your company to increase customer satisfaction.
5. Supervision and follow-up of activities is a piece of cake
The best thing about artificial intelligence as a technology solution for businesses is its ability to collect and process massive amounts of data in real-time, allowing you to track that data.
With an AI software tool, you can detect problems with machines, bottlenecks in your process, when equipment maintenance is needed, the cybersecurity status of your infrastructure, and the options are almost endless.
You can access this information quickly and easily, and sometimes even from your mobile phone. Sounds good, doesn’t it?
6. Algorithms make fewer mistakes than people
Some repetitive and detailed tasks are prone to errors, for example, administration and accounting operations.
With an artificial intelligence tool integrated into a solution such as RPA (robotic process automation), it is possible to speed up these processes and reduce the margin of human error.
In this way, we achieve that the human team takes care of the most complex tasks, while these tools can deploy the repetitive ones.
7. Artificial intelligence facilitates and improves the experience and management of human capital
This idea is closely related to the previous one. Suppose we use artificial intelligence tools in those tasks that underutilize human skills.
In that case, it is possible to expand the allocation of human talent to complex and essential activities that require human judgment.
Artificial intelligence solutions are even used to measure employee feelings, identify and retain high performers, and determine fair compensation.
What do you think about these 7 reasons to invest in an artificial intelligence solution for your company? If you have already decided to implement it, we invite you to contact us and make a consultation with our specialists. Dividev is a digital company that helps organizations that want to innovate and achieve their technological transformation, including artificial intelligence for businesses. Do you dare to take advantage of its benefits?
You don’t need to keep asking yourself the question Do I need artificial intelligence for my business?
Dividev works with databases enhancement for several verticals, enriching and adding data by getting information from external sources coming up with thousands relevant data points. This data is used later for many purposes creating a high and accurate segmentation, and the creation of an ongoing enrichment process and the “Dividev Centrifuge“.
The Dividev’s Centrifuge process includes data science for data preparation, exploratory data analysis of existing and new data (in order to make data more consistent), tidying up the data lake, and creating an automated work plan based on a completeness and consistency score of the listings.
All these techniques and actions help companies to have larger and richer data sets, for many purposes including customer analysis, demand & supply projections, launching more personalized and targeted marketing campaigns, etc. Also all this information could be enhanced with the integration of a larger data set and business partners, creating synergies and enriching each particular media channel, and use artificial intelligence techniques whenever possible.
Dividato is playing a key role in the waves of exponential tech advancements, as Peter Diamandis identifies as current metatrends. For example the disruption of advertising.
“As artificial intelligence becomes increasingly embedded in everyday life, your custom artificial intelligence will soon understand what you want better than you do. In turn, we will begin to both trust and rely upon our AIs to make most of our buying decisions, turning over shopping to AI-enabled personal assistants. Your AI might make purchases or influence your customers based upon past desires, current shortages, conversations allowed by the AI system to listen to, or by tracking where your pupils focus on a virtual interface (i.e., what catches your attention). As a result, the advertising industry—which normally competes for your attention (whether at the Superbowl or through search engines)—will have a hard time influencing your AI“.
Diamandis adds that this metatrend is driven by the convergence of machine learning, sensors, augmented reality, and 5G/networks. And Dividato Centrifuge is ready to work on that.
Case Study:For the tourism & travel industry, Dividato has worked for a media & events company in the New York area, where enriched and added data by getting information from more than 20 automated external sources, including names, email addresses, physical addresses of all stakeholders belonging to selected origins. Dividato’s team worked during a short period of time to come up with thousands relevant data points. This data was used later for promotional activities creating a high and accurate segmentation, and the creation of an ongoing enrichment process and the “Dividev Centrifuge”
While other organizations may have retreated to mass marketing, those that upgrade their modeling can be far more effective in generating revenue. Here’s what they need to do.
Tap new (and better) data
Precision marketing is only as good as the data behind it. New models with old data are still likely to provide inaccurate results. To hone their insights, leaders in the new normal will take a wide-angle approach to data collection by gathering not only behavioral trends and location-based insights but also third-party analytics on their business, customers, and competitors to complement their in-house customer data. Companies starting this journey are finding the most value in incorporating epidemiological data from government sources and customer-mobility and sales data from third-party providers into their models. Companies that extend their data gathering in these ways can identify upticks in demand and where new customers are coming from, as well as assess which customers in their existing base have increased spending and where lapsed customers have gone.
Before it updated its modeling approach, for example, a retail chain could only tell how many customers it was gaining or losing. The company then decided to pull in cell-phone data to scan changes in their competitors’ net traffic. That analysis showed that many of the customers they were gaining during the pandemic were coming from more expensive, specialty players, while those they were losing were heading to cheaper, larger-format players. On the basis of this information, the retailer transformed its onboard and churn-prevention campaigns. They sent emails advertising higher-end offerings to customers transitioning from specialty stores while touting bargain-oriented products to value-oriented customers at risk of churn.
Robust data can also allow companies to generate better competitor insights.
By comparing third-party assortment, sales, and promotional data to their own figures, for instance, marketers can evaluate the strength of different value propositions and see which elements resonate with different groups of customers. They can then provide these groups with tailored messaging, content, and offers.
Invest in tech that learns at scale
The increased uncertainty in the new normal requires marketers to get better at testing and faster at reacting. A more agile operating model is a key element in this, but it is also increasingly necessary to work with technology that learns at scale. This requires developing technology capabilities that can read and interpret signals of consumer intent and consumer responses to marketing messages and then feed them back into the marketing engine so it can learn what works and what doesn’t.
Marketers who really push the limits are using artificial intelligence (AI) to monitor campaigns and interrogate responses at a detailed level, to learn not only what works and what doesn’t but for which segments, at what times, and over which channels—and then to adjust their strategy based on those insights. Deriving those specific insights using standard analytics might take the average marketing organization several days. But AI-enabled monitoring can do this in minutes, sometimes seconds.
For example, a consumer services company launched consumer-retention campaigns as communities came out of lockdown. Their customary analytics, which could only assess campaigns in the aggregate, was only marginally effective. However, the organization piloted a new AI engine that could look deeply enough to evaluate responses at the core base statistical area (CBSA), which showed that the campaign was highly effective in specific niches with similar economic and epidemiological profiles. This AI engine will identify how the campaign’s performance patterns evolve, allowing marketers to configure the system so that nightly AI-driven analytics feed directly into the campaign’s targeting logic. This and similar campaigns are a crucial element in a broader data-driven marketing program that has helped the company increase its rate of testing more than fivefold.
Two keys to success: Investing savings and being agile
In order to derive value from these upgraded models, two actions are crucial.
Generate savings to invest in tech
While some companies are simply cutting budgets and retrenching across the board, others are finding it can be more beneficial to reduce spend in unproductive areas and reallocate the savings—as much as 10 to 20 percent of the overall budget, in some cases—into analytics. This requires a thorough but fast reevaluation of all marketing spend to see how the COVID-19 environment has affected ROI. Event sponsorships, traditional TV advertising, and programmatic display based on outdated terms are just a few areas where marketing performance is likely to have shifted significantly. One apparel retailer, for instance, found that the effectiveness of paid search has diminished sharply during the crisis, while social-media activity has been far more productive. Marketing leaders can free additional investment by also reusing and repurposing existing assets. The savings can then be redeployed to fund data-driven growth programs.
Deploy agile marketing in a remote setting
Agile practices are effective in allowing marketing teams to test consumer behaviors and react quickly to changes. While traditionally, agile teams were thought to perform best when working in the same place, the exigencies of the pandemic have required this approach to be rewired for remote work. Leading companies are converting physical war rooms into virtual ones, creating additional points of contact to support adherence to agile protocols (such as sprint check-ins by video, for example) and the use of collaboration tools. The best companies have gone a step further by integrating some of their vendor teams into their remote practices, including working with IT to create shared tools and compatibility guidelines to account for vendors’ different technologies.
Budgeting and operating practices need to be continually reviewed to support this remote agile model. Instead of quarterly or semi-annual planning sessions, marketing leaders should assess performance monthly to ensure that funding and resources are aligned with the biggest opportunities.
Organizations that prioritize their precision-marketing efforts can turn the COVID-19 crisis into a time of transformation. By capturing new data, searching for new behavioral relationships, and enabling rapid experimentation, marketers can seize granular growth opportunities and enter the recovery with significantly greater ROI and resilience.
Artificial intelligence can help with more than just security. The power and promise of AI for businesses keeps growing, and many of them can look towards artificial intelligence for inspiration and solutions to the most common problems they have. Artificial intelligence is already a part of your everyday lives, from social media feeds, song and movie recommendations, driving directions, and even the voice on your phone assistant are all examples of how artificial intelligence already has a role in our daily lives.
1. Improve Customer Services
With AI slowly getting into everyday use, it can help with major business improvements. By using a virtual assistant program, businesses can get real-time support to users and significantly improve their customer support.
With their usual workload, sales and customer support teams have a lot to work on. But, AI has made a lot of changes and improvements to helping people by tackling manual and tedious tasks. The automation of these tasks will allow people to focus on more important projects and lighten the workload.
Customer support representatives can be sure that their clients get all the necessary information they want and need with the help of AI. Artificial intelligence can maximize the use of a product or service a business offers. And artificial intelligence can also help with follow-ups by automatically scheduling any follow-up email that can help companies be sure that there are no leads that have not been contacted.
Apart from these tasks, AI can help businesses customize their websites based on how customers engage and behave online. Buyers want to see tailored experiences for any interaction they have with a business. And because of that, it is important to tailor your website towards potential customers. And you can do that with the help of AI tools that can automatically update website messaging based on the users that view the page.
2. Automate and Optimize Workload
With the help of machine learning, retails and other businesses can help with better inventory management. Machine learning can help automate any refilling requests and even optimize the supply chain with a breeze.
Artificial Intelligence can help with improving the maintenance and safety of the equipment a business has. It can improve the maintenance schedules that will offer better control of the manufacturing and transportation sectors.
By collecting and analyzing data, with the help of machine learning algorithms, businesses can categorize work, optimize logistics, automatically route service requests and improve the execution of manual tasks for any industry.
3. Predict Performance
The application of artificial intelligence in business can help predict performance and user behavior. Specific AI tools can help identify patterns that can potentially disrupt your business, like IT outages. There are tools that can also help determine when you can reach certain goals you set. You can watch and predict when you can reach a certain response time to help desk calls.
And with the help of different ML algorithms, a business can analyze patterns of online behavior and use this data to serve tailored product offers or target appropriate adverts. AI can even help a business forecast the revenue it will generate, which can help companies understand what will help them meet their quarterly and yearly goals.
4. Analyze Data
With many improvements in network and storage technology, it’s easy to collect data. However, just data is nothing without analyzing it. With high amounts of data, it can be very time-consuming to analyze big amounts of data one by one. That’s where AI can help. Machine and deep learning algorithms can help analyze any large amounts of data and interpret it.
So far, AI-powered systems have been used to analyze data from hundreds of sources to offer predictions and information about what works and what doesn’t. And it has helped unify data across platforms to put all customer data together into a single place.
5. Improve Marketing and Advertising
Businesses can use artificial intelligence to improve their marketing and advertising efforts. By adding automation to the marketing processes, a business can increase its presence and land more sales. A business can customize marketing and sales informationand allow AI-based applications to handle routine tasks to allow a better experience for consumers.
By using AI-based applications, businesses can start handling routine tasks. It can automate any routine marketing task and save time to focus on other things. And artificial intelligence can effectively track any user behavior on websites or social media. It can also deep dive into data about customers and clients to give predictions about product development, consumer preferences, and marketing channels.
With the help of machine learning, a business can get help with price-optimization for various markets. There are platforms that can leverage data about competitors, consumers, and suppliers, and use that data to automatically create different pricing models for individual market segments. This AI-based approach can contribute to and optimize the profit margins of a business.
Make Use of AI Technologies For Your Business
There are a lot of ways artificial intelligence can help businesses improve different aspects of their business and tasks that need to be done. Artificial intelligence will allow businesses and people to focus on important tasks, while AI takes care of their routine and time-consuming tasks.
The ecosystem of business has turned out to be extremely complicated, which makes the sustenance difficult on a competitive landscape for the retailers. Retailers need to keep developing, innovating, and diversifying. It can help them in understanding the customer demands better and fulfill their expectations, while providing them an elevated customer experience. It makes the operations of retail extremely difficult for their survival, as well as stops attracting new customers.
Nevertheless, disturbing trends related to the retailers and the customers have resulted in a massive explosion of data, which, when processed and evaluated, can help the retailers with a sizeable opportunity to gather valuable insights.
Understanding customer behavior can help the retailers to leverage that information in better decision-making.
On the other hand, processing such a large set of data has become a great challenge for companies now.
As per Gartner, data volume is ready to rise by 800 percent in the coming years, having 80 percent of unstructured data within it. In order to make sense of the capital of big data, retailers need to have a robust data management solution that can lend a hand in retrieving and processing data from multiple places. It will help the retailers need to have a robust data management solution that can lend a hand in retrieving and processing data from multiple places.
It will help the retailers to draw real-time insights for quick decision-making, as well as, generate the actual business value. Predictive analytics has evolved as a clear solution for every data faced by businesses. By predicting the customer requirement based on post-interaction, historical, and real time analysis of big data, it can be satisfied quickly and efficiently.
The blend of machine learning and artificial intelligence with predictive analytics helps in bringing better accuracy and insightful data. Leveraging a predictive analytics solution can help businesses to make their sales and marketing teams more practical by allowing them to access data such in a precise way. It can enable the marketing and sales teams to resolve, as well as determine a customer’s potential lifetime value.
Furthermore, predictive analytics is beneficial when it comes to identifying issues and trends that have a significant impact on business operations. It can help the retailers to predict when and why the customers might leave the brand behind. Such information will allow the businesses to take necessary actions to improve customer experience and flawlessly serve their expectations.
Did you know that big data can impact your bank account, and in more ways than one? Here’s what to know about the role big data is playing in finance and within your local bank.
Nowadays, terms like ‘Data Analytics,’ ‘Data Visualization,’ and ‘Big Data’ have become quite popular. These terms are fundamentally tied predominantly to matters involving digital transformation as well as growth in companies. In this modern age, each business entity is driven by data. Data analytics are now very crucial whenever there is a decision-making process involved.
Through this tool, gaining better insight has become much easier now. It doesn’t matter whether the decision being considered has huge or minimal impact; businesses have to ensure they can access the right data to move forward. Typically, this approach is essential, especially for the banking and finance sector in today’s world.
Financial institutions such as banks have to adhere to such a practice, especially when laying the foundation for back-test trading strategies. They have to utilize Big Data to its full potential to stay in line with their specific security protocols and requirements. Banking institutions actively use the data within their reach in a bid to keep their customers happy. By doing so, these institutions can limit fraud cases and prevent any complications in the future.
Some prominent banking institutions have gone the extra mile and introduced software to analyze every document while recording any crucial information that these documents may carry. Right now, Big Data tools are continuously being incorporated in the finance and banking sector.
Big data has numerous perks relating to the financial and banking industries. With the ever-changing nature of digital tech, information has become crucial, and these sectors are working diligently to take up and adjust to this transformation. There is significant competition in the industry, and emerging tactics and strategies must be accepted to survive the market competition.
Using big data, firms can boost the quality and standards of their services.
Analytics and big data play a critical role when it comes to the financial industry. Firms are currently developing efficient strategies that can woo and retain clients. Financial and banking corporations are learning how to balance Big Data with their services to boost profits and sales. Banks have improved their current data trends and automated routine tasks. Here are a few of the advantages of Big Data in the banking and financial industry:
Big Data can efficiently enhance the ways firms utilize predictive models in the risk management discipline. It improves the response timeline in the system and consequently boosts efficiency. Big Data provides financial and banking organizations with better risk coverage. Thanks to automation, the process has become more efficient.Through Big Data, groups concerned with risk management offer accurate intelligence insights linked to risk management.
Among the most significant perks of Big Data in banking firms is worker engagement. The working experience in the organization is considerably better. Nonetheless, companies and banks that handle financial services need to realize that Big Data must be appropriately implemented. It can come in handy when tracking, analyzing, and sharing metrics connected with employee performance. Big Data aids financial and banking service firms in identifying the top performers in the corporation.
Companies can find out more regarding their clients through Big Data. Excellent customer service implies outstanding employee performance. Aside from designing numerous tech solutions, data professionals will assist the firm set performance indicators in a project. It will aid in injective analytic expertise in multiple organizational areas. Whenever there is a better process, the work processes are streamlined. The banking and financial firms can leverage improved insights and knowledge of customer service and operational needs.