Machine Learning and Artificial Intelligence are fast becoming a disruptor that now can help a business achieve efficiency like never before. A lot of case studies here can help you know more about what AI & ML can do for your business.
The early age MIS (Management Information System) graduated to analytics and now to machine learning, artificial intelligence and the deep learning. By unlocking the value of data, the world is transforming faster than it could have done otherwise. The future of every company will depend on how effectively they unlock value from the data they have and generate.
While it took about two decades to evolve, the pace of change is accelerating every day. Innovative companies like Google and Amazon have taken the lead in demonstrating to the world, how to effectively unlock the value in their data for business productivity. Amazon’s dynamic pricing that uses algorithms to change the pricing based on the demand and competition almost in real time has kept them in the leadership position since long. Their recommendation engine that suggests buying other products based on their previous buying patterns and those of similar buyers has been a huge differentiator. Google’s AdWord has been another such success story that has opened the gates of digital marketing.
While the world is moving ahead with a more advanced way to using their data like machine learning, artificial intelligence and now deep learning, most of the companies are still struggling with the basics. Data analytics today remains the foundation of every business success, big or small. More than 65% of global enterprises still struggle with basics of data management and continue to lose the untapped value of their data.
Making use of data for the benefit of business is essential for not only profits and growth, but for basic survival of any organization. Our engagements are becoming more complex with passing time, in such a situation, getting hold of data that gets generated and analyzing them for business use is becoming even more important. Without a proper foundation, companies will struggle to move towards the next stage of their business growth and may end up compromising on their cost and quality advantage.
The good news for companies is that fact that most of the tools required for data analytics are available in open source in abundance, effectively bringing down the cost of setting a right data management framework that ensures that all the information is channelized and put in a standard repository irrespective of its form. With Big Data, it is no more about structured data, but any unstructured data including images, videos and plain texts getting analyzed quickly by powerful tools available. The big challenge is, however, the availability of talent who can do this for you. FuturXLabs brings proven frameworks, the expertise of tools that cost you nothing and talent pool that can bring immense value to your business.
KPIX (Key Performance Indicator accelerator) is a product developed by FuturXLabs team to provide a platform where all your KPIs can be configured, and businesses can have access to their performance through KPI on the run.
FuturXLabs has focussed on the need for trapping, analyzing and creating business outcomes from the data through advanced methods in analytics. Even those companies that had little understanding or even trapped repository of any meaningful data, the results can be great.
The following case studies will through some insight how others are benefitting from FACT- Data Maturity Framework, making use of artificial intelligence and data models for their business benefits.