The Small Business Benefits of Data Science and AI
In our previous article we explored the power of technology in the modern world. Our reliance on it is only going to increase as time goes on – as more and more employers become aware of what technology is capable of, it is going to take prime position as the single most important element of every business in the world. We also explored AI, Machine Learning, and Data Science as these are the future of technology in the world.
We explained that – contrary to popular belief – it is not a luxury reserved for massive organisations and that, with these modern technological aids working safely in unison with a capable team of employees, the reliance you place on tech can be far greater than you had ever anticipated.
Let’s now take a closer look at the benefits of AI, Machine Learning, and Data Science in a small business.
The benefits of AI to a small business
Accurate decision making
AI allows decisions to be made digitally. Remarkably, you can now place your full trust in your technological solutions and know that they will make the right decision for your business. With a human team this is not always the case: not necessarily because you can’t trust them but more because we all make mistakes – that is just human nature.
Improved recruitment process
Most small businesses don’t have a dedicated HR department, but with the right tech you can place all of your HR responsibilities on its shoulders. HR is one sector of business that is seeing particularly large benefits from modern tech – AI enabled tracking systems allow for automatic browsing of CVs, for example, meaning you only have to spend your time interviewing those that actually have a chance of getting the job – this is just one way that tech makes HR an easier task. This also guarantees no bias, because the tech will select only the applicants that adhere to the parameters in the algorithm. In the modern age, we must guarantee an unbiased, objective selection process based on equal opportunity for everyone, and this technology makes that a guarantee.
Of course, customer experience is the most important part of any business. You can offer the best product or service on the market but if your customer service isn’t up to scratch your prospective clients won’t make it to the buying process. AI, Machine Learning, and Data Science can revolutionise the way that you view customer support. With AI powered software and Data Science (Sentient analysis technology) you have the ability to respond far more effectively to the concerns of your customer base than ever before. You can approach complaints and queries more professionally than was ever possible.
Let’s now take a closer look at Data Science, how it is completely different to what it once was, and how – if it is implemented and used correctly – it can revolutionise your organisation going forward.
Data Science/ Analytics and Your Small Business
Data Science translates to Analytics. As we know, data is the lynchpin of successful modern business – you need to be sure that the data you have is accurate, protected to the highest standard, and utilised, because the information it gives you is invaluable and will enable you to make business defining strategic decisions. Previously, it was a known fact that business owners had to operate one step behind; this wasn’t ideal but also wasn’t anyone’s fault as there was simply no way of making live decisions based on events that were happening right now. Business owners did, of course, employ analysts whose sole job was to gather information and display it on spreadsheets – but this was a very time-consuming task, and that’s before they had tried to make sense of it.
Analytics have changed due to recent technological advancements. Most business owners are using data analytics to adapt their work practices to achieve the most possible with the resources at their disposal, but, due to the hectic and unforeseen last few years, many – without any forethought – purchased a myriad of tools specialising in collaboration and communication – tools like Microsoft Teams.
Many businesses were left behind due to the pace at which the changes were made; they didn’t have the knowledge of how to monitor the performance of their team. Business owners need constant data on their team’s performance – but this isn’t enough as they need to be able to turn that unorganised pile into real usable data. Giving your team the right capable tools to complete their work to the absolute best possible standards is important, but an impossible task if they don’t know where the problems are arising.
AI, Machine Learning, and Data Science will continue to revolutionise small businesses all over the globe for many years to come. Implementing and using tech in the right way will help your organisation to compete in a saturated industry, enabling you to achieve increased levels of productivity through the delegation of mundane tasks, and in the process reduce human error and increase profits.
There is no doubt that AI will become common practice in practically all businesses on the globe. It is merely a matter of time before your business needs to adopt them to compete, and it is no longer a choice of ‘if’ but ‘when’, as getting ahead of the crowd could be the difference between success and failure.
The Right IT support for you
Our team of experts has one goal in mind; we want to bear the burden of your IT support for you. We thrive on engaging with our clients to create positive relationships centred around the shared desire to help your organisation succeed. We are here to help your business remain secure and to assist in its prolonged success and growth. Please don’t hesitate to get in contact with us if you are interested in seeing what we can do for you.