The world of Advanced Analytics, Artificial Intelligence and Machine Learning is amazing, but also very intimidating. The big boys (Google, Facebook etc.) are doing some very clever, yet potentially unsettling things. However, I think bridging the gap between this hype and real-world applications in your business is hard!
Conversations with our clients are fascinating at the moment as they require a good understanding of both the business and the art of the possible. Typically, they are excited to get going, don’t really know where to start, and then end up boiling down into one of a few real world scenarios…:
- Using anomaly detection techniques to monitor thousands of operational data feeds, KPIs or machine level outputs in real time. Many systems will use crude threshold alarms, but it is possible to be much better with models that learn ‘normal’ and then look for anomalies in real time.
- Extending scenario one into process optimisation. What are the factors that drive the process outcome (customer satisfaction, sales or yield)? Can these be better managed to improve performance?
Reduce your dependency on manual checking by automating repetitive checks (e.g. invoice validation)
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