- Posted by agrAdminEGG
- On June 2, 2020
Business intelligence is in itself a very powerful tool that helps and guides companies in the decision-making process. In fact, thanks to Business Intelligence, you can automize a number of tasks; you can analyze all historical data and view it through infographics to easily obtain an intuitive photograph of your company. However, this tool has a considerable potential which does not end here. In fact, some crucial information is hidden even to the most expert analysts. Human can foresee a limited number of future scenarios and this is where machines come into play. In this article we will talk about a strong ally that optimizes and brings business intelligence to the next level: machine learning.
How Machine Learning Enhances Business Intelligence
Business Intelligence (BI) and Machine Learning (ML) both feed on a great deal of data.
The BI process starts from the collection of all internal and external information. This data is then manipulated to obtain simple indicators – commonly called KPIs (key performance indicators) – or intuitive and easily readable graphs. This way, the analyst in charge can identify the main trends on the basis of the needed factors. This process allows companies to make optimized and data-driven decisions. Now, try to imagine what would happen if you combined this tool with artificial intelligence.
Even though ML is based on the analysis of historical data too, it goes way beyond the classic trends of shaping decision-making processes. In fact, it hypothesizes all possible scenarios using obvious evidence and the hidden information. Thanks to this approach, it is able to reach conclusions that would perhaps be unimaginable for the analyst alone. Human brains struggle with counter-trend reasoning, but great geniuses do just that. They look for the unthinkable and this is exactly what makes machine learning so special. It can be frightening, but artificial intelligence can foresee what we struggle to even imagine and capture invisible details.
How the “Machine” Learns
Machine Learning (ML) can be considered a branch of Artificial Intelligence (AI).
ML is an automatic learning system that can guide machines (computers) to take autonomous decisions. These are not based on a set logic established in advance by the programmer, but on autonomous learning. In other words, ML algorithms analyze large amounts of data to learn and gain experience from them in order to perform certain functions according to an autonomously developed logic.
The learning process can mainly be of three types:
- Supervised; together with an input dataset, the system is also supplied with its relative outputs. This is done in such a way that the software can identify a sort of mathematical function to be reused in carrying out similar problems.
- Not supervised; the input dataset is ‘without labels’ and the system is left with the task of identifying complex or logical patterns directly on the input data.
- Reinforcement; the system interfaces with a dynamic environment and it is acknowledged if the expected objectives have been achieved or if it is in error. This system is more complex, but allows the software to gradually optimize its results and ‘learn’ from its mistakes.
The benefits of Combining Machine Learning and Business Intelligence
The union and coexistence between Business Intelligence (BI) and Machine Learning (ML) optimizes and completes the data-driven decision-making process.
Ultimately, it leads to numerous benefits:
- speeding up the process;
- cleaning the data automatically;
- identifying errors easily;
- showing you the insights;
- allowing you to predict future trends and set business strategies that can make your business take off.
This combination further simplifies the analytical operations of your team. Moreover, thanks to this duo, you will be able to grasp and evaluate every detail or facet of your data. Your decisions will be mediated by new scenarios. You will not only look at the past, but you will have the opportunity to project yourself into the future!
When we developed AgrEGG, we focused on evolution. We are not just talking about a common tool for business intelligence. Thanks to the work of our data scientists, you will have access to the full potential of Artificial Intelligence.
Machine Learning and Artificial Intelligence modules can be easily extended and customized to meet your every need. You will have the right tool to guide your company towards new challenges and you will have an analysis system developed by experts in each sector without having your own dedicated team.