Business intelligence is in itself a very powerful tool that helps and guides companies in the decision-making process; it is possible to analyze all historical data and view them through infographics to obtain a photograph of your company in an easy and intuitive way. However, there is some hidden information that is not so immediate even to analysts and the number of future scenarios that can be imagined by the human mind alone is limited. In this article we will talk about a strong ally that optimizes and brings business intelligence to the next level: machine learning.
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 to manipulate and return it in the form of simple indicators – commonly called KPI (key performance indicators) – or of intuitive and easily readable graphs thanks to data visualization. This way, the analyst in charge can identify the main trends on the basis of the needed factors, typically following a linear data analysis process. If this is already driving companies towards optimized and data driven decisions, try to imagine what happens when a BI tool is associated with artificial intelligence.
Even though machine learning is based on the analysis of historical data too, it does not limit to simplifying the decision-making process on the basis of classic trends. At the same time, it hypothesizes all possible scenarios by making the best use of both the obvious evidence and all the hidden information, reaching 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; this is precisely what makes machine learning special. It could be frightening but artificial intelligence, in addition to capturing invisible details, is able to consider what we struggle to imagine such as future scenarios.
Machine learning can be considered a branch of artificial intelligence: these are automatic learning systems capable of guiding machines (computers) towards decisions not established in advance by the programmer but based on autonomous learning and according to logics not set.
In other words, machine learning 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 be mainly of three types:
- Supervised; together with an input dataset, the system is also supplied with its relative outputs 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 union and coexistence between ML and BI optimizes and completes the data-driven decision-making process: the process is speeded up, the data is automatically cleaned and errors are easily identified, the Insights are discovered, and the information now no longer hides secrets. You can predict future trends and set business strategies that will allow your business to take off. This combination does not only further simplify the analytical operations of your team, but also offers a special magnifying glass with which you are able to grasp and evaluate every single 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 forward, into the future!
With agrEGG we have focused on evolution. It is not just a common tool for business intelligence, but thanks to the work of our data scientists, you will also have access to the full potential of artificial intelligence.
The ML and AI modules can be easily extended and customized to meet 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.
Make the most of your data and choose a complete tool with dedicated and customizable ML modules, choose agrEGG.