What is AI-Driven Decision-Making?
AI-driven decision-making uses artificial intelligence to help and automate business decisions. These systems use several key technologies:
- Data Analytics: AI systems collect and examine large amounts of data from various sources. This analysis helps uncover useful insights and trends that can guide decision-making.
- Machine Learning: This aspect of AI enables systems to learn from data and improve their performance over time. For instance, by studying past sales data, a machine learning model can predict future sales trends.
- Predictive Modeling: This involves using statistical methods and algorithms to forecast future events based on historical data. Businesses use predictive models to foresee trends, understand customer needs, and identify potential risks.