At the intersection of data analytics and AI lies data intelligence , but what does it mean and how can it be applied ?
DATA AND ANALYTICS
At the intersection of data analytics and AI lies data intelligence , but what does it mean and how can it be applied ?
WRITTEN BY : PADDY SMITH
Big data has a problem and it ’ s getting bigger : the sheer amount of it . Half of all the world ’ s electronic data was collected in the past three years , according to Statista ( see box ). And that growth is set to continue as new forms of data collection – particularly through natural language processing ( NLP ) – begin to have tangible effects .
An increasingly large slice of the data pie is now ‘ unstructured ’. It is not necessarily relational or contextual . And that means that , as things stand , whatever it can tell us
“ Many organisations mistakenly think AI is a ‘ plug and play ’ technology that delivers returns straight out of the box ”
CHRIS STEPHENSON TECHNICAL DIRECTOR , SAGACITY has to be put through a human brain , a capable calculator with a variety of processing flaws .
But those days are coming to an end as AI and machine learning become ever more capable at parsing the inner meaning of unstructured data .
AI potential Chris Stephenson , technical director at Sagacity , says , “ AI and ML have great potential for driving use of data analytics across a business , for example identifying your most valuable customers , and those who are vulnerable and could require assistance . However , you can ’ t hit the ground running straight away .
“ Before a business can successfully use AI for data analytics , it must first understand what data it has within the organisation , and to which situations it can be applied to . Many organisations mistakenly think AI is a ‘ plug and play ’ technology that delivers returns straight out of the box , but in fact , you will have to put a lot of work in before you see results . AI and ML need to be given reliable , labelled training data before they can perform data analytics and draw valuable business insights .”
62 October 2021