If you’re like most people, the term “augmented analytics” probably doesn’t mean much to you. But if you’re a business decision-maker, you need to know about it. Augmented analytics is a game-changing technology poised to revolutionize how businesses use data to make decisions
What is Augmented Analytics?
Augmented analytics is a data-driven approach that uses machine learning and artificial intelligence to automate the entire data life cycle. Augmented analytics can provide otherwise unavailable insights by automating the data life cycle. This approach can be used to improve customer acquisition, customer retention, and customer satisfaction. In addition, augmented analytics can help you identify new product and service opportunities by providing insights that would otherwise be unavailable.
By making data-driven decision-making easier and more accessible for everyone, augmented analytics is poised to revolutionize the business world. By automating the data preparation, analysis, and visualization processes, augmented analytics enables even non-technical users to quickly and easily gain insights from data. This democratization of data analytics empowers businesses of all sizes to make better, more informed decisions.
What Does It Mean for My Business?
Augmented analytics is an invaluable tool that can help you save time and money by automating the data discovery process. It can streamline the manual and labor-intensive task of data exploration and reduce the need for complicated coding and manual analysis to uncover insights. By automating the data discovery process, you can quickly find patterns and relationships in your data that may otherwise be overlooked. This can help you identify trends and opportunities that can be used to make informed decisions and maximize the potential of your business. Furthermore, augmented analytics helps to improve the accuracy of your models and predictions, allowing you to make more informed decisions.
Augmented analytics solutions can enable teams to analyze much larger and more comprehensive data sets than human analysts can and help you discover data faster and more efficiently. With augmented analytics, data discovery and analysis are automated, enabling data scientists to work on more critical projects with significant impact on the business. This is far more productive than time spent creating and recreating dashboards and reports for decision-makers and sales and marketing teams.
All in all, augmented analytics can be a great way to save time and money while uncovering valuable insights about your customers and business. This means you can be proactive instead of reactive when making decisions impacting your marketing and sales strategies. Having this kind of information at your fingertips gives you a competitive advantage and can help you make decisions that will improve your bottom line.
How Can I Get Started with Augmented Analytics?
Augmented analytics is a rapidly growing field, and there are now more tools than ever that make it easy to get started. These tools allow you to quickly and easily analyze data, create sophisticated visualizations, and gain valuable insights into customer behavior and trends. However, the availability of these tools also warrants a keen understanding of your current data, its accessibility and what decision-making processes you intend to augment. For example, if you’re trying to impact:
- For Customer Engagement, you will need to understand your existing customer’s shopping behaviors, preferences, frequency of visit/purchase and typical churn rate.
- For On-Shelf Availability, you will need to quickly understand trends and impact on sales by region and time period to anticipate better where and when products should be made available for the best possible impact on revenue growth.
- Supply Chain or logistics, you will need Predictive and prescriptive insights to maximize speed through a real-time view of performance to create better supply chain decisions
Augmented Analytics tools allow you to easily take your traditional Business Intelligence tools to the next level without requiring special coding or data science skills. Whether you’re a small business or a large enterprise, an augmented analytics tool will help you unlock the power of data and gain deeper insights into your customers.
By harnessing the power of augmented analytics, businesses can make informed decisions faster and stay ahead of the competition. Investing in AI-powered data analytics capabilities is a strategic decision that will help your business succeed in an increasingly digital world. With advanced insights into customer behavior, market trends and other key metrics, you can make better decisions that will lead to greater success over time.