Data analysis is one of the important steps and trends in modern production and business activities. And if the business is not a professional data analyst (and even if the business is a professional data analyst), it still needs the right AI tools to support data analysis.
How does AI work in data analytics?
AI is becoming a more powerful, efficient, and accessible solution for data processing. Here are some modern uses of AI in data processing:
- Find details: AI can examine huge amounts of data and find new trends to help users find the information needed to improve sales and marketing processes, customer interactions, engagement levels…
- Streamline data analysis: By bringing all data into one solution, businesses can get a more complete overview of their data, while making it easy to understand and track.
- Predicted results: With predictive AI, businesses can develop forecasts and analyze potential scenarios to identify plans with a higher chance of success.
In fact, AI is the most efficient and high-quality data processing method that has no alternative.
AI data analysis applications in specific industries
AI analytics is not only valuable for a few industries like technology. It is also used in industries like finance, e-commerce, manufacturing, marketing… Below, Bellsystem24 Vietnam mentions some industries that AI is entering.
1. Financial and banking services
Financial services and banking process a lot of data to run their operations, which is why this industry has always prioritized AI analytics. Tasks that AI performs such as fraud detection, credit scoring, trading, and investing can use AI analytics to create better products for businesses and automate business processes.
Banks need to look at a lot of information to assess the creditworthiness of customers. Businesses can look at a customer’s entire credit and financial history, which would take a lot of time to do if done by employees. AI tools make bank underwriting simpler and help lenders execute contracts more efficiently, so borrowers can get their money faster.
AI can also help financial and banking businesses make business decisions with a high degree of accuracy. AI tools can analyze large amounts of market data, predict market trends and other economic factors to determine which investments are best and avoid problems that businesses cannot detect on their own.
2. E-commerce and retail
The e-commerce industry needs to stay up to date with the market and understand customer needs. Without the ability to collect and process that data, e-commerce companies will come up with business plans that are not very accurate.
AI systems support businesses to get necessary business information such as inventory management, monthly revenue management, potential customers, etc. Businesses need to know the appropriate amount of inventory to stock to avoid out-of-stock situations and loss of revenue, and what customers want to buy to meet their needs. AI can help businesses reduce inventory and meet customer needs.
Customer sentiment analysis is a valuable asset for retail stores. Using AI, stores can gauge consumer sentiment about their business and products, as well as identify negative feedback that needs to be addressed.
3. Production and supply chain
A lot goes into manufacturing – businesses need to manage equipment to keep it running and optimize supply chains to get products out of the factory on time. And to do all of this, they need to analyze a lot of data to figure out what’s going on.
Manufacturing equipment can wear out over time, but there’s not always a way to know the perfect time to look into it for problems. New predictive maintenance tools, like those offered by Augury, allow businesses to get real-time insight into the likelihood of equipment failure before it occurs.
AI tools in the supply chain can help businesses capture information, data, and how their supply chain is performing and optimize operations to handle inventory management and demand forecasting.
4. Marketing and customer understanding
Marketers need to understand customer emotions and desires, the websites customers frequently visit, customer price concerns… Traditional marketing tools provide a lot of customer data analysis capabilities, but can generate a lot of information that needs to be considered in larger business plans.
AI data processing can help businesses understand their market by providing insights into customer preferences, emerging trends, customer pain points, and market competition.
AI that enables businesses to understand customer preferences can help businesses display the right offers to the right customers who want to buy, avoiding wasting time and money on customers who are not interested in buying.
The Future of Data Analytics: Combining with AI
Investment in AI is growing stronger than ever, with total global investment in AI research and development expected to reach around $154 billion by 2023.
Google estimates that more than 3 billion people use Google's AI assistant to help humans write emails and use Google Workspace to integrate necessary information. ChatGPT alone (from OpenAI and Microsoft) has reached more than 100 million users.
Additionally, AI will become an important tool in data security as the amount of personal data stored by businesses increases. AI tools can identify suspicious behavior or situations and can indicate malicious activities, helping to protect user data from cybercriminals.
How to deploy AI effectively?
AI in data analysis will work with businesses to process data information, plan to analyze customer needs, and depending on the needs of each industry, AI can provide the necessary information to review past, present and future data to improve product and customer service quality in a competitive market.
If your business wants to use AI to exploit data to the maximum and wants intelligent, highly accurate analysis or can develop AI yourself to facilitate your business, look for the service. AI Trainer belong to Bellsystem24 Vietnam.
With many special skills, Bellsystem24 Vietnam's AI Trainer service will develop sustainably with businesses:
- Aggregate all raw, unfiltered data to build more understandable and logical datasets.
- Ensure data is annotated correctly according to specific guidelines.
- Show the AI program's training data sample and check the output to see if it is correct.
- Verify and validate data annotations to ensure that AI reads accurately.
- Re-annotate data when AI reads data incorrectly.
Besides Bellsystem24 Vietnam Providing data mining - processing - input services with 16 years of experience in implementation and deep understanding of business processes of enterprises. Developing good systems for mining, processing, and data input.
AI will increasingly play an indispensable role in human life, thereby leading to related careers and services. AI Trainerr is also increased. Businesses need to learn more about the service Ai Trainer, Bellsystem24 Vietnam will always be ready to accompany!
Please contact hotline 1900 1739 for free consultation.
