Managers are hiring certified professionals from the best machine learning course online to augment their organization’s efficiency and effectiveness. In this article, we will explore the various ways AI and Machine learning are influencing business strategy at various levels.
You may have come across “SWOT analysis” in your academics or business reports. What is SWOT Analysis? Generally speaking, SWOT Analysis is a simple and very popular business framework used to analyze at the corporate level the various Strengths, Weaknesses, Opportunities, and Threats. Business groups use the SWOT analysis to measure the company’s preparedness before entering a market, evaluating the strengths and weaknesses (internal environment factors) with those existing outside (threats and opportunities).
Application 1 – AI and ML is the Center Stone of Software and Mobile App-based Businesses
The marketplace has opened up for technology companies with a massive opportunity. But with massive opportunity come unchartered and volatile challenges that create ambiguous situations for companies. In order to overcome these challenges with optimized resource allocation and maximize talent management, businesses are looking at an untapped market of AI and machine learning to stay competitive. In the software development market, business strategists heavily use the Artificial Intelligence and Machine Learning initiative to explore the SWOT in the business landscape. For example, if a company wants to enter into the modern landscape of Video Conferencing tools, there are already heavyweight companies like Microsoft, Google, and Cisco that are offering Unified Communications software suite to simplify coordination for the remote workplace. But, smaller companies are still milking the market, providing exceptional functional capabilities and services compared to bigger competitors. How?
By using AI and Data Visualization techniques that show what kind of resources a remote employee needs to successfully and accurately complete an assignment under limited managerial supervision.
Predictive Intelligence is considered as a purely scientific application. It is also referred to as ‘Predictive Analysis’. It uses various AI-based capabilities used to accurately predict the outcome of any business decision. By using historical data and real-time insights, an organization can achieve its goals and objectives with optimum use of resources and time. Predictive Intelligence can be deployed in a business strategy at an organization level / corporate level, business level, and also at a functional level.
For example, the Marketing team would use a different set of AI and Machine Learning tools to plan, control, and analyze its marketing campaigns. Similarly, Finance and Account team would use specific financial software to do away with any complexity that could arise from its financial information and processes.
There are countless other ways the best machine learning course online helps refinement of business strategy frameworks for corporate managers. They are used at various levels to minimize risks in an uncertain marketplace. While human judgment forms the crux of business strategy, there are other ways that business strategists leverage technology in data science and marketing research to evaluate their framework’s effectiveness, especially if they are entering a Blue Ocean market.