Businesses traditionally relied on data analysts and data scientists to study past events and incidents in their operations so they could chart their growth or recovery. Amid technological developments, analytics has become more accessible, enabling non-analytics experts to identify trends that will affect the direction of their companies’ campaigns and other endeavors.
Top AI Trends Analysis Tools to Keep You Ahead of Your Game
How AI Gives Data Analytics a Cutting Edge
As much as 95% of companies are turning to artificial intelligence (AI)-powered predictive analytics to extract more value from collected data. AI boosts predictive analytics in three main ways:
Streamlined data analysis
Data analysis tools allow businesses to gather and classify massive amounts of information that can be presented in one place and in various formats using visualization techniques.
AI can customize data analysis to glean the insights you need to extend product life cycles, improve sales, increase operational efficiency, streamline resource allocation, and more.
Analyzed data can provide companies with information they need to develop forecasts and make decisions. They can simulate scenarios to test options that can increase success or mitigate risk. For instance, AI can help predict a consumer’s next purchase and customer-product matches, allowing you to produce more personalized marketing.
6 Factors to Consider For Your Tool Selection
Consider the following factors when selecting your trends analysis tool:
What business goals are you pursuing? Determine your objectives and then pick a platform that will give you access to the data you need. Some use case examples include measuring marketing campaign results, forecasting revenues and new opportunities, tracking material trends and supplier performance, and gaining visibility into operating expenses and cash flow.
Analytics tools have different cost structures. Study the coverage of subscriptions—and check for hidden fees—before signing up for a plan.
Pick a platform with a user-friendly dashboard that even non-technical users can use to build, interpret, and generate reports. Take advantage of solutions with trial versions to assess their compatibility with your existing business apps and requirements.
The best tools must allow you to connect to your data sources in a few clicks. Find a system that can import data in different storage formats and from various locations.
Choose tools with features for setting access permission and safeguards against data breaches. Although these tools should foster teamwork, you must ensure the safety of sensitive company information and client data.
Cloud solutions offer the highest potential for availability and flexibility. You can modify these solutions to fit your business when you expand.
Boost Your Strategic Planning with AI
Businesses used to think that automation would be the ultimate game changer before AI entered the picture. With this hi-tech tool, marketers and company decision-makers can foresee and plan the future based on current patterns.
Data and trends analyses have a broad scope, and you may prefer solutions with a narrower focus. For tools to help you optimize your customer data, you can check our top 30 customer data platforms to drive data-centric marketing campaigns.
Do you need a deeper analysis of your competitors? You can find the best solution for your needs in list of top ten competitor analysis software tools every marketer should know.
Meanwhile, if you’d like your next social media campaign to be more responsive to your followers, check out our top 12 social listening tools to boost your brand reputation.
lamhoangmedia.com | 2023-12-16 05:50:13 – influencermarketinghub.com