AI, big data are combining to help decision-makers

Published by:
Posted on: May 28, 2020 6:09 pm EDT

The evolution of data processing continues to gain momentum, leading to better analysis

Efficient data analysis can bring great benefits to many organizations across the globe. Virtually every industry relies on big data one way or another. The volume of the data processed seems to be increasing every day, bringing more opportunities for uncovering information like unknown correlations, market trends and customer preferences to give organizations a tool to make well-informed business decisions. In the past, companies would make anonymous decisions with analysis of less data that was processed by humans. Now, the general switch is to think about Big Data Analytics and artificial intelligence (AI) before closing to any decision.

The casino industry is one that has been moving toward big data analytics to improve the gaming experience for its customers. For instance, MGM Grand in Las Vegas introduced data analytics to improve the relationship with their gamblers by reading the data on what they play and do in order to offer better a more attractive games to gamblers in which they can dominate at least a couple of games – otherwise, gamblers won’t come back to the same venue if all they do is losing.

Big data wouldn’t be anything without the integration of AI to promote new ways to combine the data collected and produce optimal analysis that can be transformed into valuable business insights and reach maximum potential. The way it works is by rearranging unstructured data in several systematic rows and columns, thereby allowing companies to read data from different perspectives and get new and different insights. As time passes and more data is collected, smart computers also become more powerful and would be able to read more volume of data, which will be processed even faster and allow the industry to make almost immediate decisions on a given matter.