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In analytics, LLMs can create natural language query interfaces, allowing us to ask questions in plain English. They can also automate report generation and interpret data nuances that traditional methods might miss. Weve all seen the demos of ChatGPT, Google Gemini and Microsoft Copilot. Theyre impressive, no doubt.
To me, this means that by applying more data, analytics, and machine learning to reduce manual efforts helps you work smarter. According to a recent McKinsey report , digitized underwriting can improve loss ratios three to five points. It’s not easy, but it can be done in pragmatic steps to yield results.
Integrating IoT and route optimization are two other important places that use AI. The healthcare industry stores ridiculously high amounts of big data- both structured and unstructured for research & development, population health management, technological innovations, patient health history and their medical reports management.
Decades (at least) of business analytics writings have focused on the power, perspicacity, value, and validity in deploying predictive and prescriptive analytics for business forecasting and optimization, respectively. Cognitive analytics is basically the opposite of descriptiveanalytics. Pay attention!
Descriptiveanalytics also help them understand the number of athletes and workers required to support that specific competition or sport. This analytics engine will process both structured and unstructured data. “We “We get access, post-Games, to the ticket data to analyze any patterns in terms of incidents and responses.”.
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