Augmented vs. AI Analytics: Enhance Your Decision-Making Strategies

Analytics is the practice of examining data sets to extract useful insights and trends. Think of it as a flashlight in a dark room—illuminating paths and options that were previously hidden. In various sectors such as healthcare, finance, and retail analytics help organisations make informed choices that can lead to better outcomes.?

What Are Augmented Analytics??

Augmented analytics is beyond the traditional analytics by adapting advanced technologies like machine learning and natural language processing. This combination helps analysts work faster and non-technical users can easily derive insights from data without training.??

How Augmented Analytics Are Adding Value to Enterprise Businesses?

1. Efficiency:

Repetitive tasks will be automated, so that team will focus on strategy.?

2. Accessibility:??

It simplifies the access of data for everyone in the organisation.???

3. Deeper Insights:??

It uncovers the hidden trends, which are very useful to get better decision making.?

How Augmented Analytics Be Used in Different Industries?

1. Healthcare:??

Augmented Analytics can process patient data quicky for treatment plans.?

2. Finance:??

In financial services, it helps to identify the fraud transactions.?

3. Retail:??

Retailers use these augmented analytics to know the customer behavior and personalized marketing efforts.?

4. Manufacturing?

In manufacturing, it aids in predictive maintenance, quality control, and supply chain optimization, reducing downtime and improving efficiency.?

5. Telecommunications?

Telecom companies use augmented analytics for network optimization, churn prediction, and better customer service, boosting quality and satisfaction.??

What are AI Analytics??

AI analytics is a technique that use artificial intelligence, like machine learning algorithms to predict future outcomes. It is a smart assistant which learns from past data patterns and helps in making predictions. This is more than reporting and includes recognising patterns that might be missed by human analysts.???

How Can AI Analytics Help Businesses???

1.Predictive Analysis:??

It predicts future trends and behaviours, giving businesses a competitive edge.?

2.Automation:??

Manual workload will be reduced, so teams can focus on strategy?

Applications Of AI Analytics Adding Value to Different Businesses? ?

1.Healthcare?

AI analytics enhances diagnostic accuracy, predicts patient outcomes, and personalizes treatment plans, improving overall patient care.?

2.Finance?

It optimizes investment strategies, detects fraud, and manages risk more effectively, leading to better financial performance and security.?

3.Retail?

AI analytics provides personalized recommendations, improves inventory management, and forecasts demand, enhancing customer experience and sales efficiency.?

4.Manufacturing?

It enables predictive maintenance, optimizes production processes, and ensures quality control, increasing operational efficiency and reducing costs.?

5.Transportation?

AI analytics improves route planning, predicts maintenance needs, and enhances safety measures, resulting in more efficient and reliable transportation services.?

What to choose? Augmented or AI Analytics??

Augmented and AI analytics both are data centric, aiming to improve decision making and efficiency. Their end goal is often aligned helping businesses extract meaningful insights from their data pools.?

How Are They Different From Each Other???

1.Augmented Analytics:??

It focuses more on improving human decision-making process by making data accessible and understandable.?

2.AI Analytics:??

It learns from data patterns to create predictions and automate tasks, often functioning effectively without human intervention.?

Factors to Consider While Choosing the Right Approach for Your Business?

1.Business size:??

Smaller businesses might benefit more from augmented analytics due to its user friendliness.?

2.Industry Needs:??

In highly dynamics environments, AI analytics can offer significant forecasting advantages.?

3.Decision making goals:??

For teams looking to become data driven with minimal training augmented analytics may provide immediate value.??

Wrapping up?

Choosing the correct analytics approach whether its augmented or AI can boost your decision-making strategies. DataINFA can help you understand what each offer and how they can complement one another to reach organization goals. Connect with our experts at [email protected] ?

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