How does Big Data & AI create a significant impact on an organization?

Many people are familiar with the terms big data and AI over the past year.

Today we will discuss more about what big data and AI are and why they are important to today’s business organizations.

What is Big Data? 

According to the article of Big Data Analytics: What it is and why it matters, from SaS, it refers to large, complex, and high-speed data sets. Big data can explore and analyze data and insights. Big data analytics is the use of processes and technologies, including AI and machine learning, to aggregate and analyze large datasets with the goal of identifying patterns and developing data insights. This can help a better, accurate, faster, and more data-driven approach to increase the efficiency of work, create value for a business, revenue, and profits.

What is AI? 

Artificial intelligence refers to a set of technologies that allow computers to simulate human intelligence. An example of AI is speech recognition, putting a virtual assistant like Alexa to work, image recognition for identification, and AI auto-driving. AI also makes analytics tools more efficient and accessible. It allows you to explore and analyze expansive and unstructured data to be clear and understand the factors that have a greater factor on your business by Yeung, J. (2020, February 23).

The Relationship between AI and Big Data 

In the article of What is Big Data and What Artificial Intelligence Can Do? By Yeung, J also mentions the relationship between AI and Big Data. Big data and artificial intelligence are interrelated. AI needs a lot of data to learn and improve decision-making processes and big data analytics leverage AI for better data analysis. By bringing these two technologies, we can take advantage of advanced analytics capabilities such as complementary or predictive analytics and display insights.

A good point in the article by Yeung, J. (2020, February 23) said that with Big Data AI-powered analytics, can grant your users with the tools and technology they need to extract high-value insights from their data, promote information across your organization while gaining the benefits of being a data-driven organization.

By bringing both big data and AI technology together, organizations can develop business efficiency by:

• Forecast and benefit on emerging industry and market trends.
• Consumer behavior analysis and automated segmentation.
• Customize and optimize digital marketing campaigns.
• Implementing intelligent decision support powered by big data, AI, and predictive analytics.
• AI big data analysis.

After getting a brief introduction to Big Data and AI, we can conclude that these can help to benefit the organization in many ways. AI can assist users in every step of the big data cycle or processes that involve collecting, storing, and retrieving several types of information from various sources. This includes data management, decision management, action management, and managing important goals.

Reference link :

• Big Data Analytics : What it is and why it matters
• What is Big Data and What Artificial Intelligence Can Do? 

Article by Thankamon Wongsuppapat