Augmented Analytics –  A new tool for Modern Business 

Augmented Analytics –  A new tool for Modern Business 

 

Augmented analytics is the latest  business development tool. According to Gartner augmented analytics is an “approach that automates insights using machine learning and natural-language generation”. Augmented analytics facilitates the world of business intelligence by generating more growth and revenue. For example, in consumer package goods industry we have to track the sales pipe line and marketing unit in order to predict the consumption changes and to save the consumer at risk .These tasks can be done by augmented analytics solution. According to Gartner there three important points to implement augmented analytics. They are Machine Learning, Natural Language Generation and Automating insights. 

 

Machine Learning  

Machine Learning is a field of Artificial intelligence that is the Machine can learn from algorithms based on the data without depending on the rules. Machine learn from a data and successfully complete a task in the same way how humans learn. For Instance, if the dataset contains images of apple and orange the machine processes this data to identify the patterns and build an algorithm using the dataset. This algorithm has been tested for accuracy using unseen examples. 

Natural-Language Generation 

Natural Language Generation is a process that converts machine’s language into the language which humans can understand. NLG enables even a non-technical person to understand what is occurring in your data. For example, if a machine finds that the sales value of a category in the e-commerce store has decreased it displays “sales is decreased by 40%”. This also enables the business team to rise questions like what is our sales report in past month? and receive a answer in the form of graphs or charts. With natural language search, users can ask follow-up questions directly after receiving an answer. Augmented analytics solutions can enable users to drill down into the specifics of their insights  

Automating Insights 

The automated insights help the business strategy by assessing the growth, opportunity, and brand health. The combination of machine learning and NLG automates the process like communication and data analysis. This automation saves the time and energy of business team. Automation isn’t limited to routine reporting. Rather, automated insights have the capacity to lift enormous amounts of data and determine the root causes of your business’s Path. 

Augmented Analytics can benefit the business path by deeper data analytics, faster results, better use of resources and actionable insights .