During one of the conferences I attended earlier regarding Big Data, I heard everything about its importance, and that how by the end of 2020, there would be about 40 Zettabytes (ZB’s) of data.
Furthermore, the question raised by me at that conference was:
How would we avoid sorting and filtering the data but instead directly scan through only relevant data and obtain what we require, so as to fasten the results and response time?
No one had any clue on this topic but all assumed by then a powerful technology would be created to accelerate the process.
Being an impatient nerd, I researched a bit on Google about:
How can Big Data be supported using AI? And Boom 💥 there it was…that’s the Future!
Navigating across various links and reading numerous books on Artificial Intelligence, I thought:
- How AI and BI can be brought together? and
- Why should they go hand-in-hand in the long run?
Some of the immediate after-thoughts were:
- Big Data overload
- Shortage of Experts
- Real-Time wholistic insights
- Dashboards don’t suffice
- Spending Money wisely
Cognitive Business Intelligence and Artificial Intelligence
Cognitive Business Intelligence (BI) is the next stage of Machine Learning to design and analyse unstructured data, video, images, and human languages.
Along with Cloud Computing, this has made remarkable progress, in the field of Computing.
The major concern here is:
We are generating a massive amount of data on a large scale. However, is this data being analysed efficiently, so as to obtain better insights and run businesses more effectively?
Using Business Intelligence can help in leveraging this better. Moreover, one can analyse various aspects of data with BI.
What it really means? What kind of data? Data Usage? and so on.
As per Forbes, less than 0.5% of the overall data is analysed and used globally. With the advent of Cognitive BI, data analysis and decision making have become more instantaneous.
“The BI tool“, Helical Insight not only provides features such as Email Scheduling, Multi-Tenant Environment and variety in Visualisation but also empowers end-users to add functionalities on-the-go, using their in-house resources.
To illustrate, there are various BI tools like Helical Insight, Tableau, Microsoft’s Power BI, etc.
Business users with zero technical knowledge can just type their questions & get immediate answers in the form of visually represented data, using such tools.
Today, there is an increased demand for Data Science experts who help generate reports using BI.
AI can easily replace Data Scientists, generating better and more insightful reports and visualisations.
Above all, AI-powered BI can transform Real-Time Data into written reports. Likewise, businesses can make informed decisions with the data, which is seconds old.
Quick Highlights:
- AI adoption is imminent, despite marketplace confusion – Over 50% of the survey groups are using AI technologies. On the contrary, another 20% plan to do so by the end of 2020.
- Predictive analytics is dominating the enterprise – Over 60% of respondents confirmed the use of the technology.
- Enterprise use of AI grew around 300% over the past 5.5 years – Gartner
- Estimated around 75% of organisations will be using Artificial Intelligence (AI) technologies by the end of 2020.
In conclusion, I would say:
Data will keep growing day after day, and AI is only going to make life simpler. Additionally, the integration of Big Data with such advanced, powerful BI tools will help us analyse structured data better, providing visual representation capabilities as well.
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Wow! Faster insights and better analysis of data. This seems to be really interesting!!