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How to Gain Valuable Insights from Untapped Data Using AI

You probably know your organization needs to invest in artificial intelligence (AI) solutions to take advantage of the deluge of data that mobile and digital users are creating, but do you know why or how?

LEGACY ANALYTICS METHODS AREN’T EQUIPPED TO PROCESS ALL DATA TYPES

The majority of data is unstructured (around 80%) which means it isn’t clearly defined or easily searchable the way that structured data is. Traditional analytics methods can interpret structured data, but without an AI solution it’s challenging to analyze unstructured data in an efficient, meaningful way.

Essentially, you’re leaving valuable information off the table if you can’t analyze the majority of your data. This is where cognitive computing can help transform your data analytics platform.

LEVERAGE YOUR DATA WITH AI

Cognitive computing is one of the major elements of AI. It has the capability to understand information in all forms such as text, audio and video.

Adding this solution to your platform can help take Big Data created by your customers and not only improve their experience but strengthen decision making, improve efficiency and reduce risk. The greatest benefit of cognitive computing is that machine learning applications are capable of adapting over time. The more the system learns, the more accurate it becomes.

ENTERPRISE APPLICATION

There are several industries that have proven use cases for cognitive computing solutions:

  • Insurance
  • Retail
  • Insurance
  • Travel & Transportation
  • Healthcare
  • Manufacturing
  • Energy & Utilities
  • Customer Services

One particular use case is the implementation of IBM Watson in the healthcare industry. A Florida healthcare system used an IBM Watson-based solution to analyze unstructured patient information and turn it into actionable data. This allowed them to provide better care management recommendations and care plans for its moderate to high-risk patients. Furthermore, the accuracy of patient identification increased from 51% to 92%.

It’s no wonder why AI spending is expected to reach $57.6 billion by 2021 with effective use cases such as the one described above.

Want to see more cognitive computing use cases and explore how you can take advantage of AI’s emergence? Download our guide Demystifying IBM Watson: Uncover the Power of Cognitive Solutions.

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