Using artificial intelligence in business analytics
Journal Title: Modern Innovations, Systems and Technologies - Year 2024, Vol 4, Issue 3
Abstract
Artificial intelligence is quickly transforming the field of business analytics, reshaping how data is extracted, decisions are made, and costs are managed. By leveraging AI to analyze vast amounts of information, identify patterns, and create predictions, businesses are able to gain a deeper understanding of their operations and make more precise decisions. This article explores the expanding influence of AI in the realm of business analytics, focusing on its advantages, main applications, and emerging trends. Historically, business analytics depended heavily on statistical techniques and manual interpretation of data to arrive at actionable insights. However, the rise of AI has brought a significant shift in this process, moving beyond basic descriptive analysis, which focuses on reporting past events, toward predictive and prescriptive analysis. This advanced approach empowers companies not only to forecast future outcomes but also to recommend the best course of action to achieve desired goals. As AI continues to mature, its role in business analytics is expected to grow, allowing organizations to enhance efficiency, improve decision-making, and maintain a competitive edge in a rapidly evolving market.
Authors and Affiliations
I. N. Kartsan, S. A. Nuriev
Keywords
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- EP ID EP755353
- DOI 10.47813/2782-2818-2024-4-3-0146-0156
- Views 37
- Downloads 0
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