All the businesses are working seriously to be intelligent. They try to gain advantage over their competitors by acquiring business intelligence. Business Intelligence is all about data and data analytics. We are living in the era of data. BI helps in analyzing the performance of business by taking the data driven insights into consideration. Organizations are not content with their current situation. They always desire for more and have started exploring new technologies to enable their transformation. In such an exploration, they came across AI, which appeared to them as the master-stroke.
Businesses started integrating AI tools to their BI platform. This integration has sent a wave of transformation in the industry and many companies have been inquisitive to follow this most advantageous trend. In the light of this, the role of AI in business intelligence is augmenting slowly but surely with its power to redefine the entire business spectrum and consequently, its rise has resulted in one of the significant business opportunities today.
The developments of AI are helping companies to use the latest algorithms to understand the behaviour of customers, identify the trends to visualize possibilities and make appropriate decisions which give them competitive advantage. Traditional BI depends on human input for data processing. The explosion of new Big Data sources indicates that business no longer wishes to be backward. The analytics help to generate more actionable and real-time insights by constantly monitoring various attributes. In the process of analytics, past behaviour is analysed to predict future behaviour and it is used to prescribe diverse possible actions and viable solutions.
The rapid development in this area indicates that the businesses are really looking for core data driven solutions. The modern business landscape is very complex. Almost all the enterprises are adopting technology to hone their business potential. This is the time to understand how AI is influencing BI.
AI is influencing modern decision-making. Before the advent of AI, companies had to depend on incomplete and inconsistent data. The situation is totally different today with the emergence of Big Data. AI can make use of Big Data to deliver actionable insights that enable decision making. As there is a great rise in the amount of data generated by the businesses, the analytical capacity of AI will influence the decision-making power and profitability.
The most significant task of BI systems is to simplify the complexity of data. When there is huge amount of data, there is a need for such simplification which can deliver instant insights. AI has brought incredible changes in the business landscape. It has become mandatory for businesses to adopt AI based tools to stay advanced in the business race.