AI for Business Analytics

AI for Business Analytics

Traditional business analytics tools and methods are often limited by the complexity, volume, and variety of data available today. Moreover, they require a high level of technical expertise and manual intervention to extract meaningful information and generate actionable recommendations. This is where artificial intelligence (AI) can help.

AI is the branch of computer science that aims to create systems that can perform tasks that normally require human intelligence, such as reasoning, learning, planning, and problem-solving. AI can augment and automate business analytics by using advanced algorithms and techniques such as machine learning, natural language processing, computer vision, and deep learning. AI can enable business analytics to be more efficient, accurate, scalable, and accessible, and provide new capabilities and insights that were not possible before.

AI Applications and Benefits for Business Analytics

Data preparation: AI can help automate and simplify the tasks of collecting, cleaning, integrating, and transforming data from multiple sources and formats, and make it ready for analysis. AI can also help detect and correct data quality issues, such as missing values, outliers, duplicates, and inconsistencies, and enrich data with additional attributes and features.

Data analysis: AI can help apply various analytical techniques and methods to data, such as descriptive, diagnostic, predictive, and prescriptive analytics, and provide results and recommendations that can support decision-making and action-taking. AI can also help automate and optimise the selection and tuning of the best models and algorithms for different data sets and analytical tasks.

Spotlight: Copilot

Copilot is a new feature that works alongside users, embedded in the apps they use every day, to help them unleash creativity, unlock productivity, and uplevel skills. Copilot uses large language models and the Microsoft Graph to turn users’ words into powerful actions and outputs. Some of the things that Copilot can do are:

• Write and edit: Copilot can help users write and edit documents, emails, chats, and presentations, using natural language prompts and suggestions. For example, users can ask Copilot to write a summary, generate new text, or edit existing text, and Copilot will do the rest.
• Analyse and visualise: Copilot can help users analyse and visualise data, using natural language queries and commands. For example, users can ask Copilot to create charts, tables, or maps, based on their data, and Copilot will produce the best visualisations for their needs.
• Learn and collaborate: Copilot can help users learn and collaborate, using natural language feedback and guidance. For example, users can ask Copilot to explain a concept, provide a tutorial, or share a best practice, and Copilot will provide relevant and personalised information. Copilot can also help users work together, by facilitating communication, coordination, and knowledge sharing.