Artificial Intelligence or AI is an ever-evolving field. We have only begun to scratch the surface in finding suitable uses and applications for this technology. The use of AI in deriving insights from data has changed the world of business decision making. Which is why we are here to talk about the ease of business decision making with AI.
How does Artificial Intelligence Positively Influence Business Decision Making?
The biggest benefit of artificial intelligence here is how it speeds up the process of business decision making. AI-based automation tools often help companies to improve operational efficiency. From scheduling posts to sending automated replies, AI has been helping us with everyday operations. However, most marketers stumble when it comes to business decision making. These decisions affect the entire organization and hence need to be carefully considered. And what better way to make decisions based on data directly from the horse’s mouth.
Analysis of Data in Real-Time
Marketers already know the value of social media. These platforms are buzzing with opinions, information, and data. This wealth of information can help business owners decipher how to improve their products or organizations. They can get an understanding of what customers want or what they don’t like.
AI tools for social listening can be helpful in this regard. Social listening captures raw data straight from actual people and customers. The data stream can be as wide, as global, or as specific as you want. And with time and accumulation of more historical data, the insights are almost extremely precise. This can help a company know its own position in the market and put in efforts to improve it.
Decisions powered by AI Predictions
Making business decisions is a part of every business function. And sometimes it is impossible to predict or identify trends through human analysis. Here’s a perfect example of the ease of business decision making with AI:
AI helped the management of a major store notice a trend that they otherwise would have never noticed. Their AI tool found a correlation between the purchase of diapers and beers on Friday nights. Though confused by this counterintuitive insight, they tried placing the items closer together, they did see a significant upswing in the sales of both items. Such specific and precise insights can help your business plan some strategy around it.
One of the major contributions of AI tools like social media listening has been in the field of research and development. It has helped businesses understand the complexities of different buyer personas and their requirements. This information helps the brand to align its product or service by the requirements. Similarly, insights about marketing campaigns or customer service experiences help business owners. They know where to look in a department to fix pain points.
Automated Processes
Automation in business usually brings to the mind an image of a manufacturing assembly line. In recent times, however, AI has brought automation to a lot of other business activities. Brands already use automation in various marketing and sales activities. From building and implementing sales funnels to sending emails on auto-pilot to a mailing list, automated processes make your process flow more efficient and quicker.
We have spoken a lot about brands that have been using AI successfully. These are famous brands like Netflix, Arby’s, Southwest Airlines et cetera. And if it weren’t for the ease of business decision making with AI tools, not many companies would be investing in these tools. If you still need to convince yourself about the power of AI tools for consumer insights, take Auris for a ride and see the difference it makes!