This post originally appeared on The Family Business Voice.
On this episode of The Family Business Voice, Dr Gah-Yi Ban, Assistant Professor of Management Science and Operation, London Business School talks to Ramia about leveraging Big Data in business by using machine learning and AI.
– Many organisations, financial institutions included, collect vast amounts of data but don’t know how to use it
– Using these systems to inform significant decisions, procurement, for example, means we no longer need to rely solely on human intuition.
– Leveraging Big Data doesn’t necessarily start with a significant investment in complex solutions. Smaller companies should look to their existent analytics using programs like excel and concentrate on optimising them first.
Watch Dr Gah-Yi Ban’s Tedx talk “The Power and Perils of Algorithms”.