Big Data, Business and the Future
The ability to identify and understand hidden patterns and correlations in large volumes of data and use them to make business decisions is becoming a strategic competition for companies for the future.
Machine learning and statistical analysis are some of the most popular techniques used today in artificial intelligence (AI) applications. Automatic learning is the AI technique for identifying hidden patterns and correlations in a large amount of data that humans cannot identify on their own, explains Brian Ka Chan, technology strategist and researcher at Smart City.
An article published by Medium.com states that “… the data will be the basis for the development of artificial intelligence. According to research, 85% of business leaders believe that artificial intelligence is a strategic competition in today’s businesses … the better the fuel used in a car, the better the chances of winning the race in the long run.“
In order to apply AI techniques, as a method to extract values from your most important assets and manage the strategy properly, it is essential to organize the data so that its management is done safely and integrally.
Only with reliable and accurate data can appropriate business strategies be adopted, because for Ka Chan “… the most important ingredient of automatic learning is not the power of computer equipment, because while more processing power can train the machine faster, it will not change the quality of the results.“