In recent years, businesses across a wide range of industries are all facing a new element in their project structures: access to large amounts of data. However, with this sudden new wealth of information, many companies struggle to determine how to handle their data and how to use it in their best interests. As a response to this continuing growth of data, new technologies are starting to emerge. These technologies help make sense of company data and determine what customers want. One of these emerging technologies is, of course, Artificial Intelligence (AI). In addition, AI helps businesses make sense of all the data that is collected. Above all, AI is starting to reshape roles within companies, roles like marketers.
Marketers, in particular, are adopting new and collaborative ways of getting their jobs done. This includes becoming customer experience leaders within their organizations.
With increasing customer expectations for seamless, personalized customer experiences- a majority of businesses are turning to tools such as Business Intelligence and Augmented Analytics to provide value to their customers.
At Lumenore, we believe that Augmented Analytics provides marketers and businesses with the potential for improving the way they operate. Further enabling companies to adapt their processes based on consumer behavior. Similarly, in supply chains and manufacturing, this could lead to predictive maintenance of equipment, along with inventory optimization.
Augmented Analytics: Providing marketers with a deeper knowledge of consumers and prospective clients
A term recently coined by Gartner, ‘Augmented Analytics’ uses machine-learning automation to supplement human intelligence and contextual awareness across the entire data and analytics workflow. Further, it helps automate data preparation and important insights that is shareable with business users. Through the integration of natural language processing and automated data processing capabilities into Business Intelligence (BI) systems, augmented analytics provide augmented data discovery and machine learning. This automates the absorption of data into analytics systems ensuring data quality.
Do You Know?
Lumenore’s “Do you know” feature is an outcome of Augmented Analytics, which is the next upcoming wave in advance analytics. With “Do you know” you solve a variety of complex data issues including:
- Natural language processing: Understanding of unstructured data through sentiment analysis, text mining and text classification.
- Recommendations: After analysis of data, a list of probable actions is provided to prevent potential complications while encouraging the best possible outcome.
- Insight generation: Able to describe the data, identify key drivers, and explain what segments influence potential outcomes.
- Prediction: Able to easily forecast and predict trends, identify groups and similar values.
Augmented Analytics program such as Lumenore’s “Do You Know” is transforming analytics workflow. Also changing the way data analysts access data and work on insights. This is resulting in modern business intelligence analytics which works with automated insights and data preparation. Subsequently, these will be embedded in future conversational analytics and enterprise applications. In short, this trend will most likely continue to transform businesses significantly.
Interested in learning more about Lumenore? Contact one of our experts here.