Our business process has been changed, we have shifted almost everything from our brick-and-mortar space to digital space. The Digital era has started long ago, but most of us are not used to this flow until the global pandemic hit the world. It set us locked down in our homes, and forced us to operate every essential work from our homes. Almost 70% of the global working population are now working from their homes because we can’t let this pandemic stop our work. For the future post-pandemic world, we have to hold the global economy. And hence a lot of brick-and-mortar businesses run out the track and collapsed, while many of the organizations are leveraging technologies to operate their processes. And the competition is high now, everyone wants to thrive in the post-pandemic world, and the technologies are the only saviors. In this article, I will discuss how organizations can get a competitive advantage by using AI and Advanced Analytics in proper ways. Let’s start with the fact of how AI and analytics mean to the business process.

How Artificial Intelligence and Advanced Analytics mean to your organization?

Artificial Intelligence is the master technology behind all the technologies used in the business process. This data-driven technology allows machines to learn from the datasets and the previous experience to make decisions like humans but with greater efficiency and productivity. It helps to automate certain repetitive works that let humans focus on other important works. On the other hand, the advanced analytics help the machines and the business process to identify the pattern of the datasets, understand the key instructions and meaning of the information, automatically classify the newly added information and summarize all the complex instruction of the data. Besides, the self-learning features of the machines improve the whole process. Also, being updated with the latest technologies in the work process increases the value of the organization, as well as the employee retention rate, and strengthen the employer brand along with a competitive advantage in today’s fierce market competition.

Artificial Intelligence and Advanced Analytics as a Competitive Advantage

Below are some common ways to implement Artificial Intelligence and Advanced Analytics to the business process as a competitive advantage,

1. Automation:

Automation is the process through which the machines can work like humans and use their intelligence from the experience and learning to automate certain repetitive and time-consuming works of human workers. Most of us are aware of the facts about using robotics and machine learning in production. Despite this, using Natural Language Processing the AI connects with the consumers and communicates with them like a human. Using AI in manufacturing works improves the productivity of the organization, as machines work 24/7 without having a break. It increases the market value of the products with the AI-based product quality check. On the other hand, it reduces the cost of hiring individuals on each role.

2. Product Recommendation:

Product recommendation is the new feature of almost every eCommerce site. And again it is the AI behind this. It collects the analytics of a user and his/her search history and understands their preferences. So when they visit the same site again, it recommends products of their choices. Using these features the organizations can drive more traffic to the site, and increase the sales. Many of the brick and mortar business owners like to provide an online presence to their organizations for this.

3. Smart Business Operation:

As we all know we learn from pour past, it is the main thing of AI. It allows the machines and the systems to learn from their experience and analytics, and help them to predict the coming events. Let’s consider recruitment, we use the analytics of the previous hire and analyze the part where we have to focus more. Like that, the analytics and AI will help the business process to learn from the previous experience and make decisions regarding the coming events. Thus, it saves both time and cost of the whole process.

4. Work Efficiency:

The machines work on machine-learning technology, which is based on datasets. And hence it has lower chances to make errors and higher chances of efficiency. Machines don’t have emotions, they will never feel bored or frustrated or get distracted by repetitive works. They will continue the work until it gets completed, without having a break, and be able to produce more products than the human workers. Only the datasets should have been put correctly.

The above passages show you the ways you can use both Artificial Intelligence and Advanced Analytics to get a competitive advantage. As I said previously, to keep the business running in this pandemic, the latest technologies are being leveraged, and you should be aware of the ways of implementing technology in your process. As to get a good global impact on your business brand in the post-pandemic world, you have to score excellently in the market competition with technology utilization.

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