Many people are under the impression that great marketing is an art, but the field of data science has introduced a scientific component to marketing campaigns. Clever marketers are now relying on data more than ever to assess, test, and plan their strategies. Although data and analytics will never replace the creative minds behind the best marketing campaigns, they can provide marketers with the tools to help improve performance.
Artificial Intelligence (AI) is helping the enterprise create dynamic new applications and new ways to better serve customers, prevent and cure diseases, detect security threats, and more. We’re seeing how rapid advances in the field as a whole as well as the underlying technology are leading to more real-world opportunities that already are making a big impact. Speaking at a 2017 panel discussion with the The Wall Street Journal, AI luminary Andrew Ng observed, “Things may change in the future, but one rule of thumb today is that almost anything that a typical person can do with less than one second of mental thought we can either now or in the very near future automate with AI.” That’s a startling assessment for what we can expect.
Conventional wisdom leads you to think that when a company knows its customers, it ends up providing better service, increasing loyalty, and generating more sales. Right?
Yes, but the truth lies between what is desired and what is achieved.
Opera Solutions has been helping Fortune 500 companies apply Big Data analytics to address challenges in operations, sales, and marketing, among other business functions. In today’s business climate, one of the most relevant challenges is how businesses can most effectively grow revenues from their existing customers. We have chosen this to be the topic of our next webinar.