Consumer data giant IRI has added AI and machine learning to its suite of analytic solutions, to help clients automatically scan data sets and uncover the best opportunities for growth.
IRI says it has invested nearly $1bn in the technology over the past few years, to make its solutions 'smarter, faster and easier to use'. Automation allows IRI's advanced statistical modelling solutions to explore and compare a variety of scenarios off-line, automatically search through thousands of possibilities, and identify those most worthy of further exploration.
A summary is made available on IRI's Unify visualization platform, and via alerts and recommendation engines. Users can define and customize rules to ensure realistic scenarios are conducted by the machine, and relevant recommendations pushed out. They can also create alerts to ensure they are notified immediately about any situations that meet a pre-defined range or target.
Krishnakumar (KK) Davey (pictured), President of IRI Strategic Analytics, says this change from laborious manual exploration to having machines automatically identify the best opportunities is revolutionizing the ability to use big data to drive growth. 'As our vast data assets continue to grow, it has become more difficult and time-intensive for a decision maker to manually test enough hypotheses to find the most relevant and impactful insights that drive sales and marketing decisions. That's why IRI has integrated AI and machine learning into our full suite of analytic solutions so that the technology does the heavy lifting automatically', Davey adds.
Web site: www.iriworldwide.com .
All articles 2006-18 written and edited by Mel Crowther and/or Nick Thomas.