Leveraging the use of AI in Big Data

AI and Big Data are some of the most exciting and prone to discussion subjects in recent technologies. The way they blend together is sometimes a mix that’s a bit hard to digest, for some. At a high level, AI revolves around an artificially created entity that is capable of performing or thinking in an autonomous manner while Big Data presumes analyzing large sets of data to look for trends and patterns.

For a humans to be able to parse, understand, refine and have the information collected in a manner they can process and explain to others would take considerably more time than it would for an AI. Instead of humans deciding how to interpret Big Data analysis, an AI could be used for these decisions. Big Data can be used by an AI with the purpose of self-learning and decision making.

Big Data and why it is important

Big Data is about incomprehensible amounts of data that is transmitted in Cyberspace. For granting you a perspective on the matter here are a few details about the volume of data we have at hand:

The average speed growth of data is around 1.7 mb per person every second;
The accumulated data volume we had at the end of 2020 was over 40 trillion GB;
Online businesses make around 450 billion transactions each day;

This data is a potential gold mine for organizations, since when processed, understood and refined, it can show the client’s buying patterns and habits. An informed analysis of their client's behaviour will allow a company to better cater to their needs and offer better services which, in turn, will lead to higher revenue streams.

Market Insights

A great deal of coordination is required to make use of the insanely huge amounts of data. Keep in mind that most of the data can be unstructured or semi-structured and, in itself, this data won't amount to anything if there is not an easy way of analyzing it and putting it to use, thus tapping into its immense potential.

AI enables this since it will work with Big Data to make vital use of the information it provides.

Since what AI does is reduce overall human and emotional interaction, it can make decisions based on facts, extrapolated from Big Data, and in a significantly lower amount of time.

With the help of AI, we’re not only able to analyze the needs of the customers but also the localized rules/regulation in the customer market for specified regions. Depending on these the AI may decide what is feasible, backed up by enormous amounts of data.

Your customers may unknowingly receive services that are even better suited for them than what they thought they wanted.

Big Data and AI applications

The most advantageous thing in this symbiotic relationship is that the AI will create new methods for analyzing data. The most fundamental issue of Big Data is "Once you have it, what do you do with it?" An AI, once trained, will understand and create new methods of interpreting the data it receives.

Tasks that usually require a lot of manual effort become trivial when enlisting the help of an AI. As such, data analytics will become less labor-intensive. This, by no means, involves replacing people with AI, their role is still critical in the management process but processes that previously took months, years or even decades are picking up speed due to AI involvement.

Big Data analytics can be used to understand if a disorder has occurred or is about to. Faulty sensors, ecosystem distribution, system health, etc can all be understood and with the help of AI either fixed or notify the responsible persons.

Bayes' theorem can be used to determine the probability of an event based on pre-known conditions. The future of any event can also be based on the previous event. This theory is best used for analyzing Big Data and any customer interest in the product can be obtained by using a past or historical data model.

Pattern Recognition is a technique of machine learning and is used to detect patterns in a certain amount of data. With the help of training data, the practice of identifying patterns and monitoring them is made easier.

Summary

AI and machine learning, blended with Big Data, will offer businesses a more holistic view of the data they collect, it allows them to make connections and combined with human intuition to augment them, they will be able to provide superior services within shorter periods of time.