Data-Driven Finance: Leveraging Analytics in the Era of Digital Transformation

by Tyler Bodys | Oct 12, 2023 | DataAutomation, Digital Transformation, Learn

Data Driven Finance:

Leveraging Analytics in the Era of Digital Transformation

In the fast-evolving landscape of the financial services industry, a new era has dawned—one that revolves around data.

Data-driven finance is no longer a mere concept; it’s a fundamental shift that is reshaping the way financial institutions operate and make strategic decisions.

In this era of digital transformation, data has emerged as a potent currency, enabling financial organizations to gain insights that were previously unimaginable.

In this blog post, we delve into the world of data-driven finance, exploring its significance, benefits, challenges, and the promising future it holds.

The Role of Data in Financial Services

Traditionally, financial services have always relied on data and information to drive their operations. From analysing market trends to assessing customer creditworthiness, data has been the backbone of decision-making.

However, with the advent of digital transformation, the importance of data has surged to new heights.

Digital transformation is the process of adoption and implementation of digital technology by an organisation to create new or modify existing products, services and operations. The goal for its implementation is to increase value through innovation, invention, improved customer experience and efficiency.

As financial services become increasingly complex and competitive, the need for accurate, timely, and relevant data has intensified. In this data-centric era, financial institutions are not just making decisions; they are uncovering insights that can redefine the entire industry.

Key Benefits of Data-Driven Finance

By harnessing the power of data analytics, financial institutions can:

Gain deeper insights into customer behaviour
Enhance data collection
Market dynamics

Internal processes
Encourages data-driven culture (with improved collaboration
Increased profits
Increased agility

This newfound understanding enables:

more informed decision-making
leading to improved risk management
better customer experiences
enhanced operational efficiency

Consider companies like Monzo and Starling, which utilized data-driven approaches to tailor personalized financial solutions, ultimately setting them apart from their competitors.

Data Sources and Collection Methods

The array of data sources available to financial institutions today is astounding.

Customer transactions, market data, social media interactions, and even sensor data from Internet of Things (IoT) devices.

All of which contribute to the wealth of information at their disposal.

Modern data collection methods have expanded to include mobile apps, online platforms, and interconnected devices.

This data influx not only broadens the scope of analysis but also presents new challenges in terms of data quality, integration, and privacy.

Analytics Techniques in Financial Services

Data analytics techniques have evolved hand in hand with the digital transformation of finance.

Descriptive analytics offers insights into historical trends, while predictive analytics helps anticipate future outcomes.

Prescriptive analytics goes a step further, recommending optimal actions based on data insights.

Machine learning and artificial intelligence are driving breakthroughs in analysing vast datasets and uncovering patterns that were previously hidden.

These techniques enable financial institutions to make more accurate predictions, streamline processes, and discover untapped opportunities.

Use Cases of Data-Driven Finance

The impact of data-driven analytics is felt across various sectors within finance.

In banking, institutions leverage data to personalize services, detect fraud, and enhance risk assessment. Investment firms use data-driven insights to inform portfolio management and optimize investment strategies.

Insurance companies employ data to assess claims and tailor coverage plans. Lending institutions rely on data analytics to evaluate creditworthiness and streamline loan processing.

Each of these use cases showcases how data-driven finance is transforming traditional practices and opening new avenues for innovation.

Challenges and Considerations

While the benefits of data-driven finance are clear, challenges must also be acknowledged.

Data privacy concerns, security risks, and regulatory compliance are critical issues that financial institutions must navigate.

The ethical use of data is paramount, as biased algorithms can perpetuate inequalities. Addressing these challenges requires a balanced approach that prioritizes transparency, accountability, and adherence to regulatory standards.

Building a Data-Driven Culture

Embracing data-driven finance entails more than just adopting advanced technologies – it requires a cultural shift within financial institutions.

Leadership support, training programs, and cross-departmental collaboration are essential elements of building a data-driven mindset.

Organizations need to foster an environment where data is valued, and analytics is integrated into decision-making processes at all levels.

The Future of Data-Driven Finance

The journey of data-driven finance is an ongoing one, marked by continuous innovation and exploration.

As technology advances, new opportunities emerge and hold the potential to revolutionize data processing and analysis, while advanced analytics techniques like deep learning promise even deeper insights.

Data marketplaces may reshape how financial institutions access and exchange data, fostering collaboration and accelerating industry progress.

The rise of AI-generated financial insights and predictions could further amplify the capabilities of data-driven finance.

In conclusion, data-driven finance stands as a cornerstone of the digital transformation sweeping through the financial services industry.

By leveraging data analytics, institutions are navigating complexities, uncovering opportunities, and forging pathways toward greater efficiency and customer-centricity.

As this era continues to unfold, staying informed about evolving data trends and embracing data-driven strategies will be pivotal for both financial organizations and individuals seeking to thrive in this dynamic landscape.

Start your digital transformation before it’s too late and you lose out in the competitive marketplace and are left behind.

Fill out the form below and get in touch.

Navigating the Future: How Digital Transformation is Reshaping Financial Services

by Tyler Bodys | Sep 22, 2023 | DataAutomation, Digital Transformation, Learn

Navigating the Future:

How Digital Transformation is Reshaping Financial Services

The financial services landscape is undergoing a profound transformation—one driven by the relentless pace of technological advancement.

The concept of digital transformation has taken centre stage, revolutionised traditional practices and reshaping the way financial institutions operate.

As the digital era continues to unfold, the implications for financial services are vast and far-reaching.

In this blog post, we’ll explore the key ways in which digital transformation is reshaping the financial services sector and discuss the critical points that highlight its significance.

The Digital Disruption in Finance

The financial services industry, which has long been anchored in conventional practices, has experienced a seismic shift over the years. From manual ledgers and face-to-face transactions to the digital realm, the evolution has been nothing short of transformative.

However, this shift is not limited to the finance sector alone. Industries across the spectrum, from retail to healthcare, have undergone their own digital transformations.

As we delve into the digital disruption in finance, we’ll examine how these shifts have paved the way for innovation and evolution within the sector.

Digital Customer Experience

One of the most tangible impacts of digital transformation in financial services is the enhanced customer experience.

Gone are the days of waiting in line at brick-and-mortar banks or enduring lengthy phone calls for simple inquiries. Digital transformation has introduced a new era of convenience, with online banking, mobile apps, and seamless transactions becoming the norm.

The customer is now empowered to manage their finances on their terms, anytime and anywhere.

Furthermore, the importance of personalization and user-centric design cannot be overstated.

Financial institutions that prioritize these aspects are better positioned to attract and retain customers in an increasingly competitive landscape.

Fintech Innovations and Startups

The rise of fintech startups has injected a fresh wave of innovation and competition into the financial services sector.

Peer-to-peer lending, AI-advisors, blockchain technology—the list of fintech innovations is both impressive and extensive. These innovations have not only expanded the array of services available to consumers but have also challenged the dominance of traditional financial institutions.

The traditional hierarchy is being disrupted as fintech startups pave the way for more inclusive and efficient financial solutions.

Data-Driven Decision Making

In the age of digital transformation, data reigns supreme.

The utilization of data analytics, powered by big data and artificial intelligence, has transformed decision-making processes within financial services. From risk assessment and fraud detection to investment strategies, data-driven insights provide a level of accuracy and efficiency that was previously unattainable.

This shift towards data-centric decision-making is not only enhancing operational effectiveness but also redefining the landscape of risk management and financial planning.

Efficiency and Cost Savings

Operational efficiency is at the heart of every business’s success, and digital transformation has become a key driver in achieving this efficiency within financial services.

Through automation, process digitization, and the reduction of manual tasks, financial institutions are streamlining their operations and increasing their capacity to handle complex tasks.

Consequently, this efficiency translates into significant cost savings and improved resource allocation, allowing organizations to redirect their focus towards innovation and strategic growth.

Regulatory Challenges and Security

As financial services embrace digital transformation, they must also navigate a complex web of regulatory challenges and security concerns.

With increased digital interactions come heightened vulnerabilities, necessitating robust cybersecurity measures to protect sensitive financial data.

Real-world examples of security breaches serve as stark reminders of the importance of maintaining a vigilant stance against cyber threats.

The Road Ahead: Challenges and Opportunities

While the benefits of digital transformation are vast, the journey is not without its challenges.

Financial institutions must confront the need for a cultural shift—one that embraces technological evolution and fosters a learning mindset. Upskilling employees to adapt to new technologies is paramount to ensuring a smooth transition.

Despite the challenges, the road ahead is paved with opportunities. Digital transformation opens doors to growth, innovation, and improved customer relationships.

Organizations that leverage these opportunities stand to flourish in the ever-evolving landscape of financial services.

In conclusion, digital transformation is not merely a passing trend; it is an imperative for survival and growth in the financial services industry.

The changes brought about by digital transformation are profound and have the potential to reshape the industry as we know it. From enhancing customer experiences to fostering innovation, the impacts are far-reaching.

As the financial services sector navigates this transformative journey, it is essential for both businesses and consumers to stay informed about emerging technologies and their potential impacts on financial decisions. Embracing the digital future is not an option – it’s a necessity.

Start your digital transformation before it’s too late and you lose out in the competitive marketplace and are left behind.

Fill out the form below and get in touch.

Why Your Data Warehouse is Failing

by Tyler Bodys | May 22, 2023 | DataAutomation, Learn, WhereScape

Why Your Data Warehouse is Failing.

Being a critical component of any data-driven organisation, a Data Warehouse is a necessity.

However, you’re probably wondering why your Data Warehouse is the biggest pain in your life, or maybe you don’t even have one yet?! Unfortunately, there isn’t one quick fix to solve all your problems – as nice as that’d be!

But it’s time to get real – most Data Warehouses are crap. And, ultimately, yours could be one of them.

A poorly designed or maintained Data Warehouse can cause serious problems for your business, becoming a hindrance rather than a help. Which we’re sure you don’t want, and we certainly don’t want that for you!

But why are you dealing with a crap Data Warehouse? It doesn’t have to be this way; you shouldn’t be suffering!

Keep scrolling (and reading, obviously) and you will learn why your Data Warehouse is failing and how to eliminate your Data Warehouse pain and experience Data Warehouse pleasure.

With a mass of legacy code built up over a significant amount of time, by an amalgamation of different developers, consultants, freelancers or even monkeys – your Data Warehouse has no coding standards. Each individual has their own way of working and different approaches to answering your technical problems, which causes points of concern.

Arguably, this doesn’t solve any of the technical problems you have encountered within your Data Warehouse. It just raises more problems!

With the different processes, different ways to answer problems and no coding standards, from these individuals, it makes the support process a massive pain. Resulting in your having to sift through the code, try to understand what is happening, why it is happening, how it is happening, where it is happening… you get the picture.

Consequently, it takes hours to try and figure out what caused the problem in the first place! And in that time, you’ve probably encountered even more issues which you need to spend even more time trying to fix. It’s a vicious cycle, to be honest!

As if this wasn’t enough, the support overhead for this is massive! Having to do these manual and repeatable tasks is time-consuming and a huge strain on your resources. Let’s face it, do you really enjoy doing these mundane tasks?

Repetitive tasks kill productivity.

The more time that is being spent on doing mundane, repeatable tasks the less time you spend on the things that matter and benefit your organisation’s growth and overall success.

Why are you doing repeatable tasks? You could spend your time wisely, and more efficiently, by building out new data features and data products that will help your business advance and contribute to the building of a data-driven culture. Oh wait, you don’t have the time because of these mundane, repeatable tasks!

Why waste time and money when you can automate these processes? Seems simple, right?

Data is clearly vital to your organisation, which is why you need to stop wasting time processing data and struggling to build new data processes. You need to start spending your time being laser-focused on delivering data-driven analytics.

This is where we can help you!

At Engaging Data, our experience with Data Automation tools has helped us build many different data platforms for our clients.

Working closely with you, we’re here for a good time not a long time! Taking your data and requirements and transforming them into usable assets in a matter of weeks – not months.

If you don’t experience this at the moment and your Data Warehouse is failing or if it is the biggest pain within your organisation, we have something for you!

Start experiencing Data Warehouse pleasure instead of Data Warehouse pain.

Get our FREE DOWNLOAD on the 10 Reasons Why Your Data Warehouse is Killing You and stop your Data Warehouse from failing!

In this download, there is even more insight and information into why your Data Warehouse is failing. Go on, download it!

Or you could just keep your struggling with your crap Data Warehouse – it’s up to you!

FREE DOWNLOAD: 10 Reasons Why Your Data Warehouse is Killing You!

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How Data Automation Will Optimize Your Organisation

by Tyler Bodys | May 9, 2023 | DataAutomation, News

How Data Automation Will Optimize Your Organisation

In today’s world it is arguably that the backbone of every organisation is Data.

From small startups to large corporations, data is everywhere and should be used effectively. For making informed business decisions, understanding customer behaviour, and improving overall efficiency – data is essential to drive further success.

Yet, manually collecting, analysing and interpreting data can be a time-consuming and error-prone process due to the flawed nature of the human intervention. This is where Data Automation can be hugely beneficial to you and your whole organisation.

Data Automation is the process of collecting, processing and presenting data using automated tools, instead of performing these tasks manually. Data Automation eliminates the reliance on manual labour with bots that do the job for you: more efficiently.

With almost no human intervention, the automated process of collecting, transforming, storing and analysing data using well-designed methods, software and Artificial Intelligence will optimize your organisation.

Data Automation can…

Save Time and Money:

With a plethora of automation tools on the market and being more accessible than ever before – why are you yet to adopt the technology that saves you time and money.

Data Automation is designed with what people want in mind, making their lives simpler, eliminating the need to do manual, mundane tasks, and instead focusing on tasks where their skillsets are utilised effectively and proactively.

It is easy to locate opportunities and areas for Data Automation on your own – once you know what to look for. A task that can allow for data automation usually involve:

A lot of data entry
Repeatable and repetitious actions
Any margin for error

Stop doing tasks manually and automate them. Optimize your team’s time with more meaningful work and reduce costs across your organisation.

Create Accurate and Fast Data:

The value of data comes from its quality. With mundane, time-consuming, and costly manual tasks completed by teams, it creates these processes to be slower and less accurate.

With the adoption and implementation of Data Automation within your organisation, mundane tasks will become obsolete and replaced with automated processes.

Data Automation can help analyse data faster and more effectively. With the ability to do a variety of tasks, Data Automation is especially helpful and can be used for data discovery, data preparation and data warehouse maintenance.

Not only does Data Automation allow for your team to focus on more meaningful tasks which use their skillsets more effectively, but it bridges the gap and makes your data faster and more accurate – garnering more business success.

Pairing Data Automation with Data Streaming and Data Quality tools will make your data faster and even more accurate, also allowing for:

Durability
Reliability
Scalability
ETL Capabilities

Create Better Documentation:

Raise your hand if you enjoy data documentation? Let’s be real; documentation isn’t the most exciting part of working with data. However, its importance cannot be understated.

The data documentation process can be difficult and not the most enjoyable. However, automating data documentation is an obvious solution to the problem that you face when working with data.

Removing manual work of maintaining the documentation and creates a consistent process, overall ensuring reliable and trustworthy data and insights across your organisation.

Documentation is one of those things you’d thank your past self for doing, it is always a great resource to look back on.

Understandably, you’re probably too busy to document everything like decisions, statuses and steps for handling repetitive tasks. So, why don’t you automate it!

Automating your documentation process will:

With a single source of truth, save time and energy
Improve quality and process control
Cuts down duplicative work
Makes hiring and onboarding simpler
Make everyone in your organisation market with a single source of truth.

Teams who are yet to start automating their data documentation are missing out on serious time, capacity and data literacy opportunities.

Make all your Data in One Central Repository:

Imagine having one single place where you would have one single source of information. Sounds like a dream, right?

Well, make that dream a reality with the implementation of a central Data Repository.

A central data repository is a collection of stored data from existing databases merged into one so that it may be shared, analysed or updated throughout your entire organisation. It is essentially created by integrating the data from all available sources.

Having all your data in a central repository allows for your data to be easily organised, analysed and secured. As well as this, it can help your business fast-track decision-making by offering a consolidated place to store data critical to your business operations.

With ETL Data Automation tools, you can Extract, Transform and Load data seamlessly and efficiently into a central data repository, whether that is a Data Warehouse or a Data Lake, for example.

Make your Data Storage System Scalable:

The need for a secure, reliable and efficient data storage solution has increased. Yet, businesses struggle with data storage as a result of the proper infrastructure to handle growing data.

With the fluctuation and expansion of business, a scalable data storage system is a necessity to cope with needs and the quickly changing nature of business.

Using Data Automation software, it is ready to scale as your business expands, as well as balancing your team’s workloads, highlighting bottlenecks and reducing resource consumption.

Scalable data storage solutions are flexible, easy to manage and can handle exponential growth – far superior to outdated, traditional solutions with limited functionality.

The data storage solution you choose should be reliable and efficient to allow your business to thrive.

It can be difficult to choose with a plethora of storage solutions on the market, yet working with us, the Experts behind Data Automation, we will make the solution simple and adhere to your specific requirements.

Modernise your Legacy Data Warehouse:

Organisations in today’s modern business world are being bombarded with data from various sources. Data which you need to collect, analyse, store and ultimately use in order to drive business decisions.

Legacy Data Warehouses weren’t built with today’s digital capabilities and requirements.

They are slow, rigid and generally expensive, with upfront and ongoing maintenance costs. This results in a more limited set of analytical capabilities, and it is slower to uncover business insights – making the decision-making process significantly slower.

Modernising your Legacy Data Warehouse is a necessity for your organisation. Despite it not being the easiest process, you will benefit hugely from the modernisation of your Data Warehouse.

Here some benefits of Modernising your Data Warehouse and working with the Experts behind Data Automation, to achieve this modernisation:

Cost Reduction
Improved Profitability
Sales Projections
Standardized Processes
Improved Efficiencies

With data growing significantly, your business will need an infrastructure that can manage and store this data to provide you with valuable insights and stay ahead within the competitive marketplace.

Modern Data Warehouses are more flexible, intuitive, and efficient when it comes to storing and managing data.

Increase Productivty within Your Organisation:

In search of optimisation and efficiency within business, Data Automation is the way forwards, and your company should embrace it.

Data Automation has always been propelled by the desire to get more done, reduce costs and limit human error, simultaneously.

Create a higher level of efficiency with Data Automation.

Eliminate Data Silos:

When it comes to decision-making, intuition is fine, but data is even better – you should rely on it.

However, Data silos are a pain point for a lot of companies. Being a big blocker for decision-making, Data silos often get in the way of your business success.

A data silo is a repository of data that’s controlled by one department or business unit and isolated from the rest of an organization. Often common in bigger companies, data silos can arise in any sized company and cause huge issues:

Give an incomplete view of your business
Create a less collaborative environment
Lead to poor customer experience
Slow the pace of your company’s growth and development
Create security risks
Threaten the quality and accuracy of your data

With the implementation of Data Automation, Data silos will become obsolete, breaking down Data Silos and connecting data assets by:

Data integration
Data Storage
Enterprise Data Management & Governance
Culture Change surrounding data

With all these benefits it is simple to say that implementing Data Automation within your organisation is a no brainer! It is a powerful tool to have in your organisation’s toolbelt.

It can optimize your organisation by streamlining data collection, improving accuracy, enhancing data analysis, increasing productivity and improving decision-making.

By automating your data processes, you can save time, reduce errors and make better use of resources.

At Engaging Data, we understand that you need data built efficiently to gain value quickly.

Using innovative Data Automation tools, we will help you seamlessly integrate your data into accessible and secure platforms.

Building Data for a purpose, we only process your relevant information to achieve your goals.

Do more with less effort.

If you haven’t already implemented Data Automation in your organisation, now is the time to consider doing so.

Implement Data Automation within your organisation and work with The Experts behind Data Automation.

Start your Data Automation transformation.

Get in touch or fill out the form below to discuss how Data Automation will optimize your organisation:

The Rise in Artificial Intelligence

by Tyler Bodys | Mar 23, 2023 | DataAutomation, Learn, News

The Rise in Artificial Intelligence

From Robocop to The Matrix, there is usually a depiction of dystopia surrounding the idea of Artificial intelligence (AI). Over the years, the sentience on screen has presented technological advances and has bridged the gap between Science Fiction and Science Fact.

However, AI is here and is here to stay.

The depiction of Artificial intelligence presented in film and cinema is a somewhat dystopian perception. However, this isn’t true for reality. Artificial Intelligence is becoming, and will only become, more beneficial to business processes and success – challenging the perception seen on screen.

Not only this, but the development of AI has gained notoriety within recent years and has become a part of the modern cultural zeitgeist for its numerous and expansive capabilities, both beneficial to everyday life and business.

What is Artificial Intelligence?

But what is Artificial Intelligence? Artificial Intelligence, also known as AI, is a term which has undergone many iterations and evolutions in meaning. AI leverages computers and machines to mimic the problem-solving and decision-making capabilities of the human mind.

While it can be assumed that there are several definitions of AI which have surfaced over the last few decades, John McCarthy, one of the ‘founding fathers’ of Artificial intelligence, defines AI as:

“the science and engineering of making intelligent machines, especially intelligent computer programmes. It is related to the similar task of using computers to understand human intelligence, but AI does not have to confine itself to methods that are biologically observable.”

Simply put, Artificial Intelligence is systems that act like humans.

How AI is Bettering the Development of The World.

As a result of the developments of Artificial Intelligence, it is arguably changing the world for the better.

Changing the workforce, AI is creating new jobs. The bleak view and argument of AI being a job killer is only one side of the coin. Yes, it is making menial, repetitive jobs obsolete due to Machine Learning and the automation of these jobs.

However, with the rise in AI, there are more emerging, engaging and less repetitive jobs. These jobs allow workers to have the opportunity to focus on the parts of the job that may be more satisfying for them to participate in whilst using more depth of knowledge to complete a complex task or job.

AI is allowing the world to become a smaller, more accessible place. No, not physically: but AI has the capabilities to bridge language divides. Whether you want to learn new languages or translate speech and text in real-time, AI-powered language tools, like Duolingo or Google Translate, are bridging the sociological and cultural gap in our worldwide community. From workplaces, classrooms, and whilst travelling, these real-time digital translations offer a means of understanding which may not have been possible without AI.

As AI becomes increasingly commonplace in the zeitgeist, it will only grow easier for your company to take advantage of its benefits. customers are quickly becoming accustomed to interacting with automated systems, so the ability to provide customers with simple, easy-to-use solutions may set you apart from your competitors.

AI has already revolutionised how many businesses operate and will continue to enhance Customer Service experiences and key business metrics like revenue and ROI in more ways than we can imagine.

Simulating the functions of human intelligence processed by machines, AI can make cars self-driving and identify risks more accurately in various industries. As well as this, AI can understand the data of a journey: notifying users about traffic and ETAs and giving the best route to users’ desired location – travel will only develop into an easier and more accessible experience.

AI Redefining the Traditional Boundaries of Art.

In addition to all of the points discussed above, Artificial Intelligence is redefining the traditional boundaries of art.

Being such a broad term, the definition of art is ver difficult to define. Taking the definition of art, art is:

the expression or application of human creative skill and imagination, typically in a visual form such as painting or sculpture, producing works to be appreciated primarily for their beauty or emotional power.

– Oxford Dictionary

From this definition, it can be argued that there is an explicit reference to the human when it comes to the creation of art. Therefore, sparking the debate of whether AI-generated art is true art due to the lack of the human during the creation.

The Modern Art movement was renowned for challenging this rational ideology and pushing the boundaries of what is considered art. Anything can be art is it is perceived as art. For example, an orange duct-taped to a wall can be considered modern art. The performative act of easing said orange could be considered performance, and thus performance art.

Keeping this in mind, it can be argued that AI-generated art can be seen as a subsection or new genre of art which has been around for years. Yet, the rise in discussions about Artificial Intelligence in the modern zeitgeist has only triggered the heightened popularity of this debate.

Computer Vision, a scientific field that deals with how computers gain high-lebel understanding from digital images or videos, as seen below, was the most popular brand of Machine Learning and AI art before the deep learning art explosion in the later 2010s and early 2020s.

AI Art systems have never stopped improving how they see and perceive the world. AI-generated art has advanced significantly throughout the last decade with the help of generative models and networks. These networks create images using datasets they’ve been trained on and develop their learning through Machine Learning (ML).

Similarly to AI technologies within the business world, AI-generated art is at our disposal now. With countless AI Art Generators available and free to use – you can simply input text prompts and the Artificial Intelligence develops a visual outcome based on the datasets it is continuously learning from – one of which was used to produce the image featured on this blog post!

AI Art Generators, like VQGAN+CLIP or DALL.E, are likely to continue to develop and evolve into highly sophisticated art engines. It is clear that AI is continuously growing, and who’s to say that the development of this will continuously impact the world of art and transform the perceived definition of what we believe art to be?

How AI is Changing Business.

Businesses of all sizes increasingly realise the importance of implementing Artificial Intelligence to achieve short-term and long-term goals.

For the greatest benefits, businesses should look at putting the full range of smart technologies – including ML, Natural Language Processing (NLP) and more – into their processes and products.

However, businesses that are new to AI can reap major rewards. AI technologies have the power to change the infrastructure drastically by:

Increasing work efficiency and customer satisfaction.
Reducing overall business costs.
Allowing for more rapid expansion and better consumer insights.
Reducing the risk of security attacks.

Within the business realm, the introduction of Ai also allows companies to gain a competitive advantage over their competitors in the market. With the increasing rate of technological innovations and advances in line with the exponential growth of varying AI technologies, the market dynamics will adjust accordingly.

The businesses which adopt and embrace these technological innovations will enable more flexible and modern strategies, consequently allowing for a significant increase in their chances of financial and overall organisational success.

Not only this, but as consumers increase their engagement within the digital marketplace, the wealth of behavioural data can produce meaningful insights into your target market or customers; location, job role, interest, and much more. With the implementation of AI technologies, this data and information will be used to inform your Sales and Marketing department’s campaigns, consumer experience and market insights. As a result, it creates more fiscal success.

Overall, using Artificial Intelligence within your organisation could yield fantastic benefits for those open to exploring the utility and emerging technologies as business tools.

The effect that these technologies produce is vast and expanding, meaning that as they develop, they will be able to benefit organisations in new and exciting ways.

However, it needs to be mentioned that although AI has made great technological advances, AI technologies don’t always perform best on their own., They are great at giving or even replacing lower-level, repetitive tasks; organisations often achieve greater success and best performance when humans and AI work together. Rather than replacing human capabilities, AI augments and improves upon human capabilities.

In short, when using Artificial Intelligence in your organisation, it can:

Boost revenue
Enhance customer experience
Create effective content and insights for Sales and Marketing Strategies
Create insightful analysis
Create a competitive advantage
Use Sales Forecasting to grow your business
Optimize your pricing
Improve cyber security
Save time
Reduce overall costs

Artificial Intelligence isn’t going anywhere. The technological growth of AI and the cultural awareness of AI within the modern zeitgeist isn’t stopping anytime soon.

From bettering your organisation’s operations, redefining the traditional boundaries of art, and self-driving cars, the capabilities of Artificial Intelligence are wide and expansive; they are only going to develop further and expand on human capabilities. Who’s to say that a person didn’t even write this blog post? Are robots officially taking over?

A business that doesn’t accept the capabilities of Artificial intelligence and implement it within their organisation will quickly struggle in the competitive landscape of business.

Want to learn more about how we can help you implement Artificial Intelligence into your organisation? Fill out the form below, and let’s discuss how we can help you make the transformation from Science Fiction to (Data) Science Fact.

Using Pebble Templates in WhereScape RED to Deal with Hard Deletes in an ODS Table

by Tyler Bodys | Mar 16, 2023 | DataAutomation, Learn, News, WhereScape

Using Pebble Templates in WhereScape RED to Deal with Hard Deletes in an ODS Table.

In a recent YouTube video, we discussed how to use Pebble Templates in WhereScape RED to Deal with hard Deletes in an ODS Table

Giving an overview of WhereScape RED, and the benefits it has for you and your organisation.

Then delving into Data Stores and how we expect them to work, especially around Historic Data Stores.

Enabling you to store data and capture changes to your data in a historic Data Store, WhereScape RED is a great piece of software to do this.

Also, we discussed how we have created our FREE Pebble Template which can be run as a custom procedure after loading the Data into the Data Store.

Our Pebble Template has been designed to identify and end or update the DSS_CURRENT_FLAG and consequently update the DSS_END_DATE in line with the setting within the Data Store.

To find out more, watch the video:

Download the FREE Pebble Template