17 Nov How Data Science can Revolutionise Small Businesses
The modern world revolves around technology, so much so that you simply can’t escape it, when everything – from the moment we wake up to the moment we go to sleep – has been influenced by technology in one way or another. Technology has allowed humanity to do amazing things – it allows our lives to run smoother, and more efficiently, and gives us all a better quality of life than ever before. The capabilities of technology that have helped us in these ways have quickly penetrated our workplaces too.
AI, Machine Learning, and Data Science.
The most revolutionary advancements in technology that the human race has borne witness to are Artificial intelligence (AI), Automation, and Data Science – all of which were once confined to science fiction but are now all possible and in the process of revolutionising the world as we know it. Tech has evolved to possess the power to ‘think’ and replace human influence.
As we said, due to AI originally being perceived as fantasy in a science fiction novel, small business owners often disregard it believing that it is ‘above their station’, but what many don’t realise is that AI is relevant to them and, in fact, maybe even more so than for larger companies. To put your mind at ease, AI, Machine Learning, and Data Science doesn’t merely refer to robots and wonders of the technological world – although at its most expensive it is capable of these things – in a small business AI refers to automated computerised processes that operate inside your CRM.
Machine Learning is exactly what it sounds like, being a form of AI that allows the system to learn and improvise from its experiences without any specific programming. It is truly amazing! This is where Data Science plays a part; through Machine Learning you can develop an algorithm that analyses your data automatically, allowing you to simply examine the results without having to change the parameters of the data for that algorithm.
If you aren’t confused at this point, I would be very surprised. In simpler terms, AI and Machine Learning will analyse different types of data according to pre-agreed parameters, which gives you the unique opportunity to change the way your teamwork to get the best outcome. Without this automated in-depth analysis such adaptations wouldn’t be possible.
There is a small but important difference between AI and Machine Learning – AI is entirely focused on computer systems that are in search of replicating human skills, whereas Machine Learning processes data instead and recognises patterns to develop algorithms.
The future of business worldwide revolves around AI, Machine Learning, and Data Science. With their help organisations can be certain that they get the utmost from their team and the tools they are using. Automating non-creative tasks will save on money and time – isn’t that essentially what every business is trying to achieve?
Utilising AI to its full abilities couldn’t be any more relevant at the moment, with businesses around the globe struggling in the wake of the height of the pandemic. It – combined with your existing team – can make for a productive workforce and place, and could even replace some of the members of your team (making them surplus to requirements). As we have already said, it can allow you to hand over the mundane tasks to technology, which in turn allows your team to be creative and perform those more important tasks that only a human can.
Are they a threat or a benefit?
Understandably, many business owners are apprehensive at the thought of placing such high responsibility in technology – and that is completely understandable.
Humans are preferred though, aren’t they?
Previously we had no other choice, but, in the modern age, humans are no longer always the preferred method to getting some tasks completed. The benefits of technology having a vital role in your organisation are clear – 100% effort 100% of the time, without the rights of a human (such as sick days, annual leave, etc).
AI, Machine Learning, and Data Science will have a large impact on the way your organisation runs. It will improve the experience your customers have with your business and the way that you communicate with others in the industry. We admit that it can be very nerve-racking to make such a wholesale change but ignoring the possibilities of tech when everyone else in your sector has it and you don’t will have negative repercussions for your company in the future. Its capabilities will guide your business to a much more efficient and prosperous future, completing tasks at a much faster rate will be normal practice, and for the first time in business history you can guarantee to your customers that they will receive the same brilliant service every single time. A computer doesn’t have an off day, and it is this level of reliability and consistency that will take your business into the modern age successfully.
For example, handing the responsibility to technology in regard to your administrative duties is a great way of making your organisation far more accessible. Traditionally a human analyst will have to manually sift through copious amounts of data and make sense of the information found – a practice that could take days before ending up as a futile activity when it is discovered that the work was not thorough enough. With a digital solution, you save time, manpower, and crucially the information taken from the data will be useful to the business going forward.
To make implementation successful you will have to prepare and budget for any challenges. The digital environment you create must have every workflow eventuality pre-programmed before your team start using it – they have the information you need, meaning that you must communicate with them to find the most effective ways of doing things. Undoubtedly, they will be aware of easier and better ways of doing things that you as management would not know.
It can take quite some time for innovation to do as is expected of it. The benefits may not be apparent immediately, but this is no reason for concern because, as long as you have spent time implementing the solution correctly, the benefits will soon follow.
Make your transition a gradual one. Staggering the implementation will give your users time to learn each of the new features in stages and ensure that they are familiar with them rather than being thrown in at the deep end. Remember, the faster you go the less likely your system is going to manage the changes and, in turn, the less likely your team will cope with everything too.
Yes, there are challenges, as there are with anything innovative, but some of the largest and most successful organisations in the world are making the migration to a workplace where AI, Machine Learning, and Data Science work in unison – and, in a lot of cases, instead of their human counterparts. This new technology offers an opportunity to achieve perfection, and obviously offering perfection to your clients will place you head and shoulders above your competition.
This new technology will very soon become a normal part of every business in the world. If you wish to prosper as well as your competition you will need to welcome the transition – but be sure it is at a pace that suits you and your team. Don’t rush, discover what it has to offer you and implement what will work best for you. If you are struggling to do this without expert help, contact us for IT support that will guide you to what is right for you.
In the next article, we will take a closer look at the benefits of the technology we have discussed above and explore in more detail how Data Science has a particularly prominent place in the future of business around the world.
Your IT Specialists
At Netcom, we are well-versed in helping companies in various sectors navigate the often mystifying, jargon-filled, world of IT. With over 15 years’ experience and covering virtually all aspects of business IT, we can help guide your business to a prosperous future with the right IT at your side every step of the way. We can help you deploy cutting edge solutions that will not only help you weather the storm that is modern IT but also keep your business at the top of its game post-pandemic and beyond.