BI tools and teams that leverage AI will replace those that do not

When it comes to AI, popular opinion is woefully under-informed.  Many are concerned that their jobs hang in the balance, while they wait for a computer to undertake their everyday tasks. That time will almost certainly come, but not for a while yet, and it will likely take a different form to the one so many people expect.

If you are reading the blog of Baresquare it is probably safe to assume that you are pro-technology.  You are not going to argue that the invention of the wheel, the pen, the bar code, the mobile phone or the smartphone did not improve on most aspects of our lives.

The automated collection of data has resulted in Big Data.  Very Big Data.  Whilst visualization and dashboards have their place for some high-level monitoring, today we aggregate so many data sets that anomalies are averaged out to look like small bumps or troughs that appear small and meaningless. [Hint: almost everything looks small and meaningless amongst billions of rows of data].  If a team is expected to drive action based on data, this level of detail is not enough.  It’s not even nearly enough.

AI, in the context of website analytics, is the next frontier of an organizations competitive advantage.  For the moment it is a small industry with a handful of innovative companies that are building SaaS technologies to support the automation of your business insights (like Baresquare).  Bridging the gap between insight and action, faster than ever before.  But before the next decade is out, all organizations will rely on computing power rather than brain power to decipher their billions of rows of analytics data.  The data ‘gold’ that gives bigger RoI, better CX and hugely less mundane work for your data science team!

In Forrester’s report: The Executive Overview Of The Insights-Driven Business Playbook by Srividya Sridharan and Gene Leganza, January 2018, it says:

A New Kind Of Firm Is Stealing Your Customers. Insights driven firms are growing at an average of more than 30% annually and are on track to earn $1.8 trillion by 2021. These customer-obsessed firms systematically harness insights across their organization and implement them to create competitive advantage through software.

Whilst the insights driven AI software market is maturing, enterprise organizations have an opportunity to leap ahead of their competitors by significantly reducing the cost of their analytics operations while exponentially improving funnel conversion and online customer experience.

While AI won’t exactly take your job, it will support us in creating the insights-driven business of the future. Sign-up now to steal a march on your competitors.