In a digital age, the world has become centered around technology, so much so that you can no longer escape it. Technology has enabled humanity to accomplish incredible tasks: making our lives easier and more efficient, it provides us with a higher quality of life than ever before. The technological capabilities that have aided us in these ways have quickly permeated our workplaces as well, such as the topic for this blog series – data science.
AI, Machine Learning and Data Science
AI (Artificial Intelligence), automation, and data science are some of the most significant technological advances in history. They enable us to reduce human influence, occasionally even to the point where no human input is required at all.
Whilst in the past many small and medium sized business owners would have assumed such technological advancements to be a luxury for those larger corporations. However, should they choose to invest the time to learn more about such technology, they will discover that it can in fact be far more relevant to their day-to-day activities than they might first think.
AI (Artificial Intelligence)
Defined as the ability for computers to perform tasks and solve problems in ways that mimic human cognitive abilities, AI systems can now execute decisions with varying degrees of autonomy. An example of this might come through the typical word processing software that you use, as AI is now used to suggest changes to text improve readability.
Machine Learning
Machine learning, a subset of AI, refers to algorithms’ ability to make accurate predictions by “learning” from historical data sets. Machine learning algorithms are “subjected” to data sets over time, and each time they assess the data intelligently, looking for common themes and variances. Similarly, to how humans learn languages through exposure, uses each successive data set to make more accurate future predictions, just as a language learner uses mistakes to learn and improve. Machine Learning is being used in a variety of settings, an example of this in the real world is image recognition as it learns to identify an object as a digital images based on the sharpness of the pixels in color or black & white photos.
Data Science
Whilst it may seem a daunting term for many small/medium sized businesses, deep and relevant data analysis tools are more widely available than ever, and can be affordably used by even the smallest organisations.
Large data sets are frequently subjected to artificial intelligence and machine learning algorithms in data science in an effort to uncover hidden or abstract trends, connections and derive meaningful conclusions.
How can it be a benefit to my business?
Understandably, many business owners are apprehensive at the thought of placing such high responsibility in technology, because surely human are still the preferred solution?
While we previously had no other choice, humans are no longer always the best option for doing certain activities. The advantages of technology playing an important part in your organization are obvious – 100% effort 100% of the time, with no room for sick days or annual leave.
AI, Machine Learning, and Data Science will have a significant influence on how your organization operates as it improves the experience your consumers have with your organization and the way you communicate with others in the industry.
While it may be scary to make such a drastic shift, ignoring the potential of technology when everyone else in your industry has it and you don’t will have long-term consequences for you and your firm. Its capabilities will guide your business to a much more efficient and prosperous future, where completing tasks at a much faster rate will be standard practice, and you will be able to guarantee to your customers that they will receive the same brilliant service every single time, without fail.
We hope that very soon this new technology can become a part of every business in the world, driving developments between you and your competitors.
In the next article, we will look more closely at the some of the practical uses of data analytics and how it can be effectively applied to small/medium sized businesses to further build your customer base.
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.
