In our last article, we looked at some of the most significant technological advances and how they have changed our lives in the world of today. We now look to explore some of it’s more practical applications and how you can apply it.
While no two businesses are similar, the following are some of the most common applications for data analytics:
Customer analytics – Promotions and discounts may be managed in real time using data science software. Additionally, it may aid in the sale of existing items or the creation of interest in new products.
Supply chain optimization – Optimization algorithms can decrease delivery times and choose the best route for vehicles, lowering operating costs and speeding up work.
Marketing analytics – Data science can indicate which prospects sales representatives should focus on and which prospects have the best chance of closing the deal.
Demand prediction – Optimization considers many factors that can have an impact on the entire process, such as shipping costs, weather, material availability, market scarcity, and many others.
The benefits of AI, Machine Learning and Data Science to small businesses
Improved recruitment process
Smaller businesses typically do not have their own HR staff because these responsibilities can be time consuming and stressful. With these new tools, you can now delegate HR to your technology’s strong shoulders. HR is a corporate segment that will profit the most from this new technology. You may create job searches and read CVs with the help of technology such as AI-enabled applicant monitoring systems to ensure you always hire the best candidate for the job.
Customer Service
Customer experience should be at the top of your operational concerns regardless of industry – whether you employ one, ten, or thousand people, it is still the most essential factor and the quickest road to success. AI, Machine Learning, and Data Science are changing the way we think about customer service since effectively reacting to your client base’s problems will be lot easier and to a much higher quality.
Accurate decision making
AI enables digital decision-making. Whatever the conditions, technology will make the best decision for your company, allowing you to put your trust in it more than ever before, whilst this may not always be the case with a human workforce.
Security
Concerns about cyber security have climbed to the top! Cyber criminals can use AI to cause difficulties, but you can use it to prevent fraud, and software and apps can even learn from circumstances to make your digital world a much safer place. AI will enable stronger defense strategies to be designed in the future. With advanced levels of security, you can pass on your confidence to your client base, and knowing that their data is secure will go a long way toward creating trust.
Leading IT Support
Since 2002, Echelon Technologies has been a leading provider of IT support and consulting, focusing on small and medium-sized businesses in the Greater Phoenix area. We have helped hundreds of companies, and thousands of users, to increase productivity and profitability by making IT a streamlined part of operations. Please don’t hesitate to get in contact and see what we can do for you.
