A data visualisation tool that analyses and displays the present status of metrics and KPIs (Key Performance Indicators) for an enterprise is termed as a business dashboard or business intelligence dashboard. These dashboards consolidate numbers and metrics, and sometimes performance scorecard as well, on a single screen.
Based on the requirement, business dashboards may be customised to display metrics for a particular department. However, they are capable of fetching and displaying data from multiple sources, as they feature a customisable interface.
Businesses and Artificial Intelligence
As perhaps you already know, AI already has established its feetin business intelligence. Businesses and Artificial Intelligence (AI) have much in common today. Enterprises are evolving their everyday business, keeping in view all what was the in the realm of sci-fi once. Although it is not simple for enterprises to incorporate machine learning into their existing system of business intelligence, they are implementing AI as fast as they can to achieve the next level of success.
Since AI has already gained considerable momentum, various prominent applications developers have gone beyond their regular approach towards developing holistic platforms, and now are running towards automating business dashboards and corresponding analytics processes. Now, you can imagine the future of business intelligence dashboards in the era of AI.
Here are 6 ways business intelligence applications will affect the future of enterprises:
- Machine Learning-based Business Intelligence Apps
The cloud-based platform by SAP, HANA is employed by many enterprises to manage their database. HANA works on the principle of replication. It pulls structured data like sales transactions and customers’ information from a variety of sources, viz. rational databases, mobile apps etc.
HANA can be implemented and run by enterprises through their own servers or through the cloud. Once the information is gathered from resources like mobile, desktop computers, sensors, sales transactions, or/and equipment at the plant, HANA analyses the data to identify the various trends and irregularities in the system.
- AI for Sales Enablement – Apptus
Machine learning can enhance applications by offering recommendations on actions, which enterprises can use to enhance their sales channels. Apptus is one such application, which establishes a connection between the intent of a consumer and a company’s revenue realisation.
One of the primary features of Apptus is that it automates merchandising on the basis of predictive understanding of the consumers. Apptus combines machine learning and big data to find out what all products might appeal to potential customers who search online for recommendations on the latest trends.
For instance, when you go to an online store that uses Apptus eSales and type your query in the search box, the machine learning understands your query and displays the relevant search results. It can also display some items similar to your search query.
- AI in Heavy Industry
Keeping in view the prevalence and advantage of sensors in machinery, heavy vehicles, and other production plants, it can easily be determined that artificial intelligence can be implemented to monitor physical equipment through and through. At the same time, IoT (Internet of Things) is no longer just about consumer gadgets, it can also be used to monitor and assess commercial trucks and trains, aviation, oil and gas, and various other industries.
The primary motive of implementing AI in the industry is predicting repairs and upkeep for machinery. Implementing machine learning can also result in high performance of some of the equipment.
- AI for Monitoring Factories and Machine Fleets
The performance of industrial equipment has become quite important, and to monitor that, software providers now have to put their machine learning technology to work. Siemens, in March 2016, introduced the Open Beta version of MindSphere that was designed to monitor machine fleets via machine tool analytics and, at the same time, drive train analytics.
Enterprises can use this machine to keep a track of their machine tools at their plants worldwide and analyse the stats of their performance. This can also help schedule preventive maintenance and manage the way in which their equipment is used in order to improve the operational lifespan.
Companies that use MindSpehere get a box that needs to be connected to their machines. Once connected, this box collects data and explains the way these machines are working.
This certainly is an indelible moment for business enterprises where machine learning can weave itself into the ways operations are handled, resources are managed, and decisions are taken and implemented. It has not yet been determined whether or not enterprises as a whole will find AI of some real use. However, they must invest in technology to adopt smart ways to manage their business operations, machinery, overall performance stats and analytics in real-time.