Business Insight Powered by Artificial Intelligence

Two decades back, we used to hear lot of buzzwords around “businesses are entering into a new era ruled by data.” Now it is bit changed to “Business acumen entering into a new era ruled by informed decision”.

Artificial Intelligence, specifically, is gradually evolving into a key enabler that will shape Business Intelligence into smart Business decision-making process.

Often people asked ; "Is AI different than BI"? Not actually, AI is supplementing the gaps of Business Intelligence. BI is frequently used to answer what happened (Hindsight); if BI is mixed with ML, it can answer why and how something happened. On the other hand, AI can also be used to answer what will happen next.

Recent advances in artificial intelligence (AI) and cognitive computing are delivering algorithms that outperform humans in many types of analysis and these are also capable of making decisions and taking action unaided by mere people.

Let’s see, what AI enabled business intelligence can offer:

• Automation: As AI gets cleverer (off course using self-learning methods), more tasks can be automated and decisions that are more complex can be handled easily and quickly.
• Augmentation: AI can be exploited to extend the abilities of BI to offer statistical advice and optimal solutions to real-world problems instead of just showing data and data driven graphs.
•  Smart information Dissemination: Why it is only limited to traditional Dashboard and scorecard. Let’s application interact with us in your language and visuals (aka conversational BI interface)

As AI has gained momentum, prominent application providers will certainly be developing more holistic platforms and solutions that would have better automation for business intelligence and analytics processes. Some of niche players are:

• Avanade offers AI for Business Insights
• SAP Hana over the cloud – AI for Turning Databases into Useful Intel
• DOMO offers AI for Business Dashboards
• Apptus AI offer recommendations on actions that companies can take to boost their sales channel.

Future AI enable BI platforms is shaping into intelligent, Cognitive, deeply learned decision-making system. One of most relevant example is Viv. Viv is close cousin of SIRI, Amazon Echo or Google help but smarter than what its peers do.

Now think of building a solution (let’s call it “Anveshak”) by mixing AI platform like Viv with traditional BI systems. Through the power of advanced natural language processing skills, Anveshak can be able to understand complex, layered commands. Big business decision making typically requires the use of more than one app or service to analyze and execute. Anveshak can handle it seamlessly, diving into organizational data (any type, anywhere), check relevant information, perform quality check, Identify and apply ML algorithm and produce result in various output format e.g. answer in human voice or a video which will tell us our story in a meaningful way or simply as a voice & touch sensitive interactive dashboard. All this can be accomplished through what we can call it conversational BI: If you can convey, it can happen.

With touch of Artificial intelligence, BI can serve through descriptive, operational, diagnostic and predictive to prescriptive descriptive information, which is often used as benchmark to gauge organizational maturity in decision-making support.