With the internet turning middle-aged this year, the importance of data for businesses has never been more central. The 40th birthday of the internet should act as a call to arms for business leaders as online innovation enters a new stage.
While the article correctly highlights the importance of predictive technology for future growth, it fails to elaborate on what this “predictive” technology means for businesses.
The spiral of economic challenges in 2023 mean that business leaders are under huge pressure to make informed, data-driven decisions. However, many lack the skills to benefit from these insights – if they can access them at all.
To fulfil this need, many businesses across sectors are investing in “predictive” approaches to Business Intelligence and analytics.
Being predictive, however, is only one part of the puzzle. AI and machine learning is transforming how businesses prepare data, generate insights, and explain those insights to people. This is putting the power of analytics in the hands of more decision-makers than ever, without necessarily requiring them to have a technical background.
There is huge potential here for firms in London to benefit, whether it is a retailer seeking to understand customer behaviour to decide on their next product launch, to the capital’s world-leading finance firms still struggling to monetise decades of legacy data.
MD of UKI at Pyramid Analytics