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Data is a crucial asset for any industry, including finance, healthcare, social media, energy, retail, real estate, and manufacturing, hence understanding how to evaluate it is crucial. But the data itself would be meaningless, unstructured, and unfiltered.
Data Analysis : AI powered tools can swiftly identify patterns, correlations, and trends, which would take humans much longer to analyze. Data Visualization : Business intelligence tools, which are enhanced with AI, can create interactive dashboards for deeper data exploration. demand spikes) using historical data.
Today, the healthcare industry faces several risks of data breaches and other data security and privacy challenges. Automation in healthcare systems, digitization of patient & clinical data, and increased information transparency are translating directly into higher chances for data compromise.
That said, data intelligence tools and practices offer the ability to transform raw data into actionable insights, spot trends, and drill down into invaluable consumer data and datadiscovery processes. A recent study suggests that the use of predictiveanalytics in business can result in an ROI of up to 25%.
An exemplary application of this trend would be Artificial Neural Networks (ANN) – the predictiveanalytics method of analyzing data. Some more examples of AI applications can be found in various domains: in 2020 we will experience more AI in combination with big data in healthcare.
This is because the integration of AI transforms the static repository into a dynamic, self-improving system that not only stores metadata but also enhances data context and accessibility to drive smarter decision-making across the organization. And when everyone has easy access to data, they can collaborate and meet demands more effectively.
Predictive & Prescriptive Analytics. PredictiveAnalytics: What could happen? We mentioned predictiveanalytics in our business intelligence trends article and we will stress it here as well since we find it extremely important for 2020. Augmented Analytics. in the last 5 years.
By Industry Businesses from many industries use embedded analytics to make sense of their data. In a recent study by Mordor Intelligence , financial services, IT/telecom, and healthcare were tagged as leading industries in the use of embedded analytics. Healthcare is forecasted for significant growth in the near future.
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