What do you know about AI tools?
Chat-generating tools such as ChatGPT, Google Bard, or other software enable you to create images from simple text. Even though they’re sufficient to blow your mind away, you can take your business to the next level by exploiting the total capacity of generative AI.
Let’s explore one of the less-known aspects of AI: analyzing data.
You know how important it is to analyze your company’s data. Just remember that each profitable company has an entire department with one daily mission: build data-driven strategies by providing outcomes that assist decision-makers in choosing the most relevant approach to increase revenue.
But it’s not as simple as it seems! You can not use all the data. You can use only relatable data, which will produce informative insights. On the other hand, data is abundant. It builds a new technology around data literacy. But you still need to structure only relevant data, which will make a difference.
AI can do that.
How to Use AI Technology to Analyze Data
AI represents a real information revolution. Also, it can help you sort information to select what matters. This can happen by:
Produce Insights Efficiently and Effectively
After releasing ChatGPT, the world was taken by storm. It’s easy, fast, and valuable. Regardless of the tool you will use or integrate with your company system, you can simply ask the AI program about the recent sales trends and it will give you the answer in less than 3 seconds.
Or you might make it more sophisticated and ask your program to generate revenue reports or request an analysis sheet for your monthly sales. These reports and insights will be accurate in a decent document received in a few seconds. It’s all about how precise your prompts are.
Create More Readable Data
What is the best way to scan your data?
When they’re transformed into visuals.
Checking large datasets is annoying and time-consuming. Who is ready to read long Excel sheets loaded with numbers, columns, and information?
But large volumes of data can be presented in less complicated formats, such as graphs, charts, or images.
However, not all data can be transformed into these readable formats. Incomplete and irrelevant data will disrupt this process. Using the right generative AI will significantly help you as they’re designed to sort and fill in the missing data.
Mitigating the Entire Data Analysis Process
Reducing the number of manual tasks can reduce the chances of misinterpretation. There is no doubt about that!
Imagine you manually sift through large datasets. It’s a headache plus the possibility of miscalculation.
With AI, nothing like this can happen. It will process any amount of data without making such mistakes. This data will help you uncover patterns and trends and be prepared for the next step.
What Can You Do Next?
The challenge now is to choose the right tool for your business. Here are the most important things to consider:
- Define your data volume, variety, and accuracy
- Define the complexity of your data analysis tasks
- Choose the user-friendly tool