How AI and data science can help you meet business challenges

Why use AI?

Around 2.5 quintillion bytes of data are generated each day, but without proper analysis, much of it could be going to waste. AI is rapidly changing the way that organisations operate, and those that fail to make the transition and leverage the new technologies will fall behind.

Data science and AI can be used to help gain valuable insights from your data and give you the ability to make informed decisions. Data driven AI is essential to make sure that the results we get from models are accurate and reliable.

How can AI be used in data science?

When we’re looking at the use of AI, our main considerations are to specify the task that we are trying to achieve and the data we have available. The quality and amount of the data directly impact how effective the use of AI is and the type of AI we use.

A part of data science is descriptive analytics, which involves visualising our data so we can better understand it and make more informed decisions. This is often associated with business intelligence and is useful for looking at the whole picture of the data. For this task AI is not typically used since it has limited usefulness.

We can look at predictive analytics where we are trying to predict something, this can be typical machine learning or deep learning and requires a lot of high quality, clean data for good results. This is where AI is essential, but knowing and using models, deep learning or traditional machine learning is where real expertise is needed.

AI deep learning models include custom and pretrained models. Custom models are essential for tasks with highly specific needs such as detecting a specific object or predicting specific metrics, but they often need a lot of clean and accurate data. Alternatively, pretrained models are great when you have a general task and if you do not have the data yourself.

These are so many ways that AI can be utilised. For instance, it can be used to forecast future demands depending on past sales data; optimise resource allocation processes such as staff scheduling; or monitor market trends to provide insights for strategic planning.

How can a managed services partner help?

Whilst many organisations are interested in the use of AI and data science, they don’t have the understanding or the expertise to help create solutions.

An experienced MSP such as our team here at ITPS has the knowledge and experience to help determine which data science solution is best for your needs, and then help you execute it.

There are a lot of essential steps, each requiring a deep understanding of data science, which are necessary to use any data or model effectively. The right MSP will help you make informed decisions depending on the nature of the problem and can carry out the full process for you, tailoring each step to your needs. 

Some of these decisions include:

·       finding out what data is relevant to the project

·       how data should be collected and where it should be stored

·       what model would be the most effective considering its limitations

·       how the model can be fine tuned for optimal accuracy and efficiency

·       what metrics should be used to rigorously evaluate the model

·       how it should be deployed and maintained

These are just a few of the ways an MSP can help your organisation use AI effectively, while making sure you follow all necessary data regulations.

If you want to know more about how we can help your organisation harness the power of AI and stay ahead of your competitors, get in touch with our experts today, here.