Why Algorithms Are the Future of Business Intelligence
Business algorithms are there to streamline your business by solving problems. From Apple Watch determining sleep patterns to Amazon's recommendation engine—algorithms are everywhere in modern life.
The world's most successful businesses use algorithms to rise to the top in their industry and build sustainable organizations that stand the test of time.
What Are Algorithms?
An algorithm is a step-by-step set of instructions used to automate a task or solve a specific problem. AI enables computer systems to behave and "think" like humans.
Machine Learning
The ability to accurately perform new tasks based on known properties learned from training or historical data.
Deep Learning
A newer subset of Machine Learning based on neural net technology that allows machines to discover new patterns.
Fully Scalable Products
Allows fully scalable products and services that can grow exponentially without proportional cost increases.
Leverage Connected Data
Leverage data from connected devices and sensors to make intelligent, data-driven decisions.
Lower Error Rates
Lower error rate due to biases in human cognition, which helps to stabilize growth and ensure compliance.
Easily Updated
Easily updated—often with little cost, allowing for continuous improvement and optimization.
Why Incorporating Algorithms is Important for Your Success
With advancements in Machine Learning and Deep Learning, virtually any process can be enhanced or completely automated:
- Allows fully scalable products and services
- Leverage data from connected devices and sensors
- Lower error rate due to biases in human cognition
- Easily updated—often with little cost
- Ensures compliance in highly regulated industries
- AI allows for intelligent, unbiased, fair and transparent decision making
If you look at the most successful organizations from the last few years—Google, Facebook, Amazon—all use algorithms to their advantage.