Which technologies combine to make data a critical organizational asset?
Organizations are looking to data as a critical asset in order to help them make better decisions and improve their operations. Machine learning (ML) and artificial intelligence (AI) are two cutting-edge technologies that are playing a major role in this transformation.
ML is providing organizations with the ability to automatically extract insights from large data sets, while AI is helping decision-makers to better understand and act on those insights. Together, these technologies are giving organizations a competitive edge by helping them to make better use of their data.
So why is data becoming so important?
Data is being generated at an unprecedented rate, and it’s only going to continue to increase. According to IDC, the global data volume is expected to reach 40 zettabytes (ZB) by 2025 – that’s the equivalent of 40 trillion gigabytes!
With so much data being generated, organizations need a way to make sense of it all and glean actionable insights. That’s where ML and AI come in.
These technologies are providing organizations with the ability to automatically analyze large data sets and identify trends and patterns that would be otherwise impossible to see.
In addition, AI is helping decision-makers to better understand the implications of those insights and make more informed decisions. For example, a retail organization might use AI to predict customer demand for certain products and then adjust its inventory accordingly.
By harnessing the power of ML and AI, organizations are able to make better use of their data and gain a competitive edge.