How Machine Learning Is Already Changing the Business World
The implementation of machine learning for business analytics has made it possible for companies of all sizes to fluidly deliver meaningful experiences.
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If something happened in your business, like a drop in daily transactions or a shift in customer demographics, how long would it take you to find out about it? Here’s another question: Once you discover the incongruity in your data, how long would it take you to decide on how to resolve it, if necessary?
We have finally reached the pinnacle where traditional marketing and data collection tapers, only to have discovered a mountain of potential insight far off in the distance. We now have the power to recognize, analyze, and solve complex business problems but to get to the next climb requires constructing a form of technology never explored before.
Taking that next step requires combining dynamic algorithms with widely available hardware and other technical elements that can continue to grow and expand as it is used. The result: A robust body with infinite memory and capacity to “think” that rivals the logic of the human brain and makes big data dreams a reality for businesses at every point of the IT spectrum. This is how it's done the Sisense way.
The Rise of the All-in-One Machines
No longer are computers simply machines that can send email, play music, and comb the internet searching for our every whim — at least, not from a big data perspective. From consumer preferences to shopping and browsing habits to intricate demographic information to the deepest human desires, nearly every iota of a person exists somewhere in the digital sphere, just waiting for someone — or something — to tap in and make sense of it all. Both actions can be completed simultaneously when machine learning and analytics converge.
To put the gravity of Sisense’s involvement in machine learning into perspective, let's take a few steps back and see how we got here.
Technology has come a long way from the one-trick solutions of olden days. People are not buying calculators, radios, and video cameras like they used to, primarily because those things have been replaced by a single device, like a smartphone. As technology advances, we expect more from it. We’re no longer satisfied with limitations. We want infinite options. We no longer accept mediocrity — we insist on cutting edge. We have learned from our mistakes of not adopting new technology when the time is right. Most notably, we demand everything fast.
Perhaps a combination of all the above has contributed to the rise of machine learning. Regardless, changing needs and markets delivered a clear mission for Sisense: Build a piece of technology capable of going beyond its initial programming to absorb and analyze new information, and then enable it to reformat that information into new sets of data. Add in instant notifications, anomaly detection, and business analytics, and out pours one powerful piece of AI. While that vision may sound like the hopes for a brighter future in big data, it’s actually happening right now at Sisense.
Machine Learning Is Revolutionizing Immediate Decision-Making
Small changes and discrepancies can easily go unnoticed by the human eye, and by the time you finally realize the error, it could be too late to undo the damage. This is only one small example of the growing need for technology to transition from single service to full-scale solutions, and that’s the purpose that Sisense embodies with Sisense Pulse.
Imagine knowing the moment some crucial piece of data pops onto your business radar, along with a full explanation of what that data means. Sisense Pulse is a beating heart in the decision-making process, empowering you with all the information you need to decide faster and more acutely so profits can grow uninhibited. This means no more guesswork, no more time-guzzling analyzing, and less wasted funds based on hunches or misinterpretation.
Using dynamic algorithms, Sisense Pulse’s built-in anomaly detection can recognize when new information does not align with previously collected data and alert you accordingly. If something seems off center, Sisense can send an instant alert directly to your email, mobile phone, or team collaboration app so you can take action immediately.
The Power of Business Intelligence Bots
For even greater instant decision-making power, Sisense functions as your personal data assistants that can deliver key information as quickly as you can ask the questions. Think of them as strongly reliable search engines for your own data: using your favorite messaging app, simply type your request, and Sisense Chatbots will deliver a clear, instant answer.
With concise, immediate answers readily available at a moment’s notice, what becomes of all that time you used to spend pouring over charts and data and trying to make sense of it all? You might use that time wisely crafting strategies to employ all that readily available, always current data.
How Smart Can One Machine Be?
Machine learning is already leaving a hefty digital footprint across the globe. Anytime a business can deliver a unique, seamless, user-driven experience, there is a smart machine standing behind the final product. These individualized experiences stem from multiple points, including real-time data collection on the user and constantly changing algorithms which are then transformed into distinctly separate insights about each user. The implementation of machine learning for business analytics has made it possible for companies of all sizes to fluidly deliver these types of experiences.
Think of machine learning as a student who receives class assignments but never forgets the information they learn. As they continue to build on the things they already know, the student can remember the information more quickly, having some basis of knowledge from previous assignments, or in this case, queries.
Just like humans, Sisense Pulse learns by doing. As users continue to contribute data, Sisense Pulse’s knowledge base expands, retaining more information, breaking chunks of information into bite-sized pieces of data, and delivering previously aggregated information faster. Here’s how this could look from a user’s perspective:
In addition to providing a flawless front-end experience, Sisense’s AI can improve back-end functionality, including everything from custom thresholds to third-party integrations to demographic shifts and more. You can tell Sisense what is important to you and Sisense keeps you up-to-speed on the things you want to know.
Perhaps the smartest feature of all is that we at Sisense have found a way to harness every facet of machine learning and position it to be available in its fullest capacity on regular hardware. No longer is artificial intelligence restricted to large-scale data and engineering teams; those who only know business can reap the full benefits of machine learning without a degree in computer programming. That’s not something you come across often.
What Lies Ahead
Crafting new technology as we have in decades’ past is no longer an option. In the technology boom of the past ten-plus years, we have seen how new solutions emerging on the market begin to fade quicker than people have time to adapt, and can almost start to predict its shelf life before something bigger, shinier, and more powerful replaces it.
Technology has become an expensive revolving door of ephemeral innovation after innovation, and the only solution that stands a chance of becoming more than yesterday’s news is one that will continue to grow and evolve in its purpose.
Published at DZone with permission of Gur Tirosh, DZone MVB. See the original article here.
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