The next time Spotify curates the perfect playlist for your mood or Flipkart predicts what you might need before you even search for it, don’t be surprised. These platforms, like many others, leverage the power of AI and data analytics in real-time. Whether it’s a rising startup or a well-established multinational, businesses today thrive on data-driven personalisation, using sophisticated algorithms to process millions of data points efficiently.
AI and Data Analytics: A Business Imperative
In the modern business landscape, AI and data analytics are not just advantages—they are essential for survival. According to a McKinsey report, organisations that embrace data-driven decision-making are 23 times more likely to acquire new customers, six times more likely to retain them, and 19 times more likely to be profitable. Additionally, a Deloitte study reveals that businesses utilising data analytics achieve a 5-6% higher productivity rate compared to those that do not. These insights highlight how the ability to efficiently analyse and interpret data not only enhances daily operations but also secures long-term competitive advantages.
Artificial Intelligence (AI) has revolutionised data analytics, redefining how businesses approach decision-making. A Kyndryl report shows that 77% of Indian startups and 86% of business leaders are actively investing in AI and advanced technologies, positioning India as a frontrunner in global AI adoption. The reason is clear—AI’s ability to process vast datasets in real-time helps organisations predict risks, monitor market trends, understand customer sentiments, and automate customer support, all of which are critical in today’s fast-paced business environment.
From Gut Feel to Data-Driven Decision-Making
Why has there been a shift from intuition-based decisions to data-driven strategies? Traditionally, business leaders relied on experience and intuition for decision-making. However, as market dynamics evolved, agility and precision became essential, prompting a move toward real-time, data-backed insights. Decision velocity—the speed and accuracy with which decisions are made—has become crucial in staying competitive.
Changing consumer expectations have further fueled this shift, necessitating real-time insights to deliver personalised products and experiences. E-commerce platforms, for example, employ AI-driven analytics to optimise supply chains and enhance customer interactions. By analysing customer behaviour, preferences, and inventory levels, AI can forecast demand, adjust stock levels, and ensure timely deliveries. Over time, this has enabled businesses to improve operational efficiency, implement cost-saving strategies, prevent system failures, and enhance the overall customer experience.
Harnessing Innovation Through AI and Analytics
As AI and real-time analytics continue to advance, traditional data processing methods will become less viable. These technologies will increasingly shape various business functions—be it marketing, finance, or operations—offering a range of benefits including customer behaviour prediction, personalised marketing campaigns, fraud detection, risk management, predictive maintenance, and supply chain optimisation.
The education technology sector has particularly benefited from AI and predictive analytics. AI is being used to assess industry trends, create adaptive learning curriculums, and develop immersive educational experiences that bridge skill gaps and align with evolving job markets. Meanwhile, predictive analytics helps institutions analyse learning patterns, forecast career paths, and enhance student engagement through automation.
Cutting-edge AI and Machine Learning (ML) frameworks like TensorFlow, Gemini, PyTorch, OpenAI, Sora, and Stable Diffusion are making AI integration more effective and accessible for businesses. By adopting these technologies strategically, organisations can continuously process, evaluate, and act on insights without overburdening their teams or compromising efficiency. This is especially crucial for businesses aiming to scale while navigating resource constraints, inefficiencies, and data management challenges.
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These are not futuristic innovations; they are already reshaping industries. The urgency for organisations to adopt AI-driven technologies is greater than ever, as those that fail to do so risk falling behind their competitors. Ultimately, the strategic application of AI and data analytics will define business success and long-term growth in the modern era.
Views expressed by Anish Srikrishna, Chief Executive Officer, TimesPro
