How AI Has Changed Analytics Reporting
As artificial intelligence (AI) evolves and humans find more applications for it, marketers look for new ways to embrace it. While AI doesn’t think on the same level as humans, the technology uses algorithms and other information to learn how to perform tasks. For marketers, this means having a system that can manage a lot of information and tedious tasks, which frees up time. AI also may help businesses make better marketing decisions with improved information.
Machines are better than humans at crunching numbers, memorizing information, predicting and making moves based on that information. For example, Adobe Analytics offers conversion propensity modeling, correlation analysis and cluster analysis in its Data Workbench machine learning features. Google Analytics’ features include Smart Goals and Audience reports. CID management and other means of data collection can be bolstered by AI that helps sort information by its metrics and other attributes, which makes it a good starting point for analyzing the usefulness of the details determined.
These predictions can’t be made in an environment that doesn’t allow for experimentation. So much of business culture is about delivering results rather than doing work on a process that may or may not fail. When incorporating machine learning into what you do, you’re looking at improvements that might not make sense in the short term, but will save money and optimize your product or service in the long term.
Data is necessary to feed marketing algorithms and gain business insights. Data exists in more forms now, thanks to marketing technology and AI. Image recognition, voice recognition and chatbots are more sophisticated than they were in the past, and contain viable information for marketers.
Data science can be used not only to help businesses understand themselves, but also to improve products and to bolster research and development efforts. Spam filters, recommendations, search algorithms and data visualizations can help improve or develop revenue opportunities for businesses that incorporate AI into their data capabilities.
The Future of Analytics
With AI technology making data analytics more accessible, data science as a field is growing and changing. These developments stand to automate a lot of jobs, create new ones and increase productivity. These technologies will continue to be parts of consumers’ lives, and business practices, so the best strategy is to learn how to use and manage them well.
Computers can do a lot, and their abilities to mimic or surpass a human “thought process” gets stronger with deep neural networks and algorithms that become more sophisticated. Businesses should understand there are limits; there’s no magic involved, and AI as a marketing term leads to exaggerated or unrealistic claims.
The way to move forward with AI is to keep asking questions and making improvements. What can you do to understand how it works? What kind of data goes in, and what can you do with the information that comes out? Can your practices help the system learn? Keep asking yourself and your data science team these questions, and you’ll follow along with the technology curve rather than fall behind.
Analytics Reporting With Claravine
You want reports you can trust, and you want to stay on top of technology developments to avoid losing business to competitors who embrace changes. Claravine can help you with CID management by automating the most tedious steps of the data collection process. Take the first step to successful online campaigns now as AI evolves. Get in touch to learn more about what we do.Get in touch