AI Can Help Companies Tap New Sources of Data for Analytics

Over the past several years, technology has rapidly changed what enterprise analytics can do. Analytical approaches that incorporate predictive models have begun to displace merely descriptive approaches. Descriptive analytics, which continue to be valuable for many users, have evolved as well, making greater use of visual analytics and moving toward a self-service model in which nontechnical users can often develop their own analyses. In general, analytics are quickly becoming both easier to use and more powerful. Despite this progress, it's still difficult to use data and analytics to understand and predict many of the important phenomena in organizations. Predictive models require a substantial amount of past data and a reasonable amount of expertise to create and use, which limits how and when they can be deployed.