Artificial intelligence (AI) can help organisations overcome these by taking the front seat in parsing, analysing, drilling down, and dissecting impossibly large volumes of data. AI can also perform high-level arithmetic, logical, and statistical functions at a scale that would otherwise be impossible through human-led, self-service analytics alone.
Analytics has transformed retail experiences, mapped pathways for trains and trucks, allowed for the discovery of extraterrestrial life, and even predicted diseases. However, the inroads made in individual and social betterment are sometimes derailed by human error. While certainly not a new problem in analytics, their impact is no less devastating, causing the destruction of assets and financial losses in the billions of dollars in recent years alone.
When we boil it down, errors in reading, processing, analysing and interpreting data are fuelled by factors such as lack of experience, fatigue or loss of focus, lack of knowledge, or unacknowledged biases.
