How Is AI Impacting Predictive Analysis?

The computing power of Artificial Intelligence combined with predictive analytics allows companies to identify potential customers for their business and provide them with all the possible answers that make sense by accessing personal data over time.

Sometimes we make illogical decisions. Our decisions can be influenced by a variety of emotional factors, intuition, communication skills, inner satisfaction, culture, etc. If you want to know more about artificial intelligence, then you can also visit this site.

These things sometimes play an important role in convincing a customer to buy an item or to make a decision. This is where artificial intelligence comes in and provides an algorithm that can be integrated to identify these key factors and provide us with the insights that make them more effective.

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For example, suppose we have data on the sales of hundreds of thousands of consumers and the various items they have purchased. If artificial intelligence is not built into these systems, what remains is a large, complex data set containing very elusive product codes / names.

To better understand this, consider popular combinations of products that consumers buy together. Name them product A and product B, and 75% of the people who bought the combination also bought product C with them.

Now we can easily analyze the remaining 25% of consumers and offer product C. This allows us to recommend products to consumers that have value and are useful and effective for other buyers.