Algorithms for artificial intelligence (AI) use real-time data to provide insights for decision-making. This makes AI very different from passive machines, which provide predetermined or mechanical responses.
AI considers a variety of data sources and carefully analyzes them in seconds. It then acts based on the results of the analysis. It is prudent to remember that AI is designed by humans for the purpose of reaching a conclusion based on analysis. Thanks to the advances in artificial intelligence, this technology is not only used to automate repetitive tasks but also in many other industries and sectors, such as the automotive industry, education, cybersecurity, human resources, customer service, logistics, marketing, healthcare, and supply chain management.
Understanding Insights Provided Artificial Intelligence
Artificial intelligence can seamlessly analyze a lot of data in a short time. It does not tire and the chances of errors are minimal. However, it is important that the insights provided by this technology are properly interpreted. Currently, there is no application that can be used for interpretation, and that is where data translators or analytics translators come in. These are specialists, who are experts in analyzing and understanding data and function as a bridge between artificial intelligence and decision-makers. These professionals understand the needs of a business and accordingly analyze the data and interpret the insights provided by AI. They then help decision-makers make sense of the insights in layman’s terms so that they can take strategic decisions.
Artificial Intelligence and Marketing
Marketers need to carefully analyze data to ensure they can feel the pulse of their target audience and cater to their needs. Artificial intelligence can be a boon to marketers. The data and analytics translation required by AI is something marketers will understand. They are already using marketing research and have the skills to perform predictive analysis.
Artificial intelligence falls under the purview of predictive analysis even though predictive analysis and marketing research are two separate fields. Artificial intelligence and marketing research analyze databases to glean insights. However, when you use both together, it can become a potent combination.
Marketers are constantly dealing with a lot of data. So, if they utilize their reporting skills of marketing research and the efficiency and analysis provided by artificial intelligence, they will be able to easily interpret vast volumes of data and provide that information to key decision-makers. Marketing researchers can function as data and analytics translators that can enable them to professionally grow.
The Way Forward
Using open sources like R, which is a programming language used for graphics and statistical computing, data and analytics translators can mine corporate databases using artificial intelligence.
Market research organizations can collaborate with data scientists or data translators to create comprehensive research reports, which provide meaningful insights. Marketers have the necessary skills to use artificial intelligence to its potential. These professionals are equipped to mine databases using sophisticated tools. If they want to hone their skills, they opt for online courses that will make them more confident to use algorithms for their marketing research and when they club that will AI, the results can be explosive.
These professionals can create questionnaires and analyze the results for laypeople and C-suite. However, artificial intelligence does not have this innate expertise. It will only do when it is provided with the right parameters. That is because marketers are trained to reason inductively and this makes them natural at analyzing and understanding data.
The Bottom Line
While artificial intelligence is the latest technology to take over many industries, it still requires human eyes to correctly interpret the findings and results. That is where marketers and market researchers can play a key role in helping organizations generate reports and actionable insights using their marketing research skills and the power of AI.