The age of artificial intelligence is upon us, with government statistics estimating that around 432,000 companies (15% of all businesses) in the UK had adopted at least one AI technology in 2022. And while you may already be clued up on how to leverage its power for content creation, many are still underestimating its capabilities with data insights.  

So, let’s explore innovative ways you can use AI to get more out of your data.  

Could AI be the key to strengthening your data analytics?

AI can help your business in many ways when it comes to gathering and analysing your data, as well as suggesting follow-up actions to improve your service. Here’s what to expect when leveraging the power of AI for your data analytics: 

• Improved efficiency: AI tools can process your business information quicker than human power could. They are also able to segment and categorise your data to give you better suggestions for approaching your analysis.  
• Validated data: With AI, you can trust that the data you’ve gathered is a true set, with any discrepancies and inconsistencies identified and investigated.  
• Large-scale data processing: AI can enable non-data users to gain access to and analyse large datasets and extract the insights needed, making it more accessible for all teams to use. 
• Automatic reports: AI can be used to automate report generation, enabling internal teams to focus on other high value-add tasks. This also removes the risk of human error when pulling the data together and gives employees access to the same key information.  

Unique ways to use AI for your data insights

Data analysis and report generation are among just some of the features many businesses using AI will already be familiar with. But, to get the most out of your AI tools, why not try some of the more unique capabilities it has, such as: 

1. Creating synthetic data

It’s been predicted by Gartner that by 2030, AI models of the time will be mainly trained by synthetic data. So, getting ahead and utilising AI to create synthetic data sooner rather than later can put you ahead of your competition further down the line! 

For example, AI can help with data analysis and insights through automated data imputation. This means that any datasets you have which have missing figures or inconsistencies can be filled out quicker and more accurately.  

As well as this, datasets can be generated and fed into ML models to test how these models work and to assess which is best at handling the generated data.  

2. Generating code

When you are faced with complex tasks like visualising large datasets or building ML models, having code or a way to debug any errors that could disrupt your entire dataset will be a blessing. And, luckily, you can use AI for this purpose, too.  

If you’re wanting to use it to generate code, you can create code blocks for analysis, or if you have some complex code that’s difficult to explain, the AI can do this for you. The advantage of this? Saving you time with the documentation process and empowering you to focus on other important tasks.  

AI can also help in a way similar to the autofill function, where you can begin typing a function and AI will complete the rest based on what you have included in your comment. 

3. Automating data entry from images

We’ve all been there; sitting in a slump at your work desk inputting data into a spreadsheet. Not only is this old-fashioned data entry method incredibly tedious, but it also opens your business up to risk of human error.  

To ensure you’re dealing with the correct data, and therefore gaining the right insights to create actions off, you can take use of AI to automate the process of data entry by inputting data from images. For example, Excel has an “insert data from picture” feature. Once you’ve uploaded the image, it can convert that data into digital datasets.  

AI is bound to continue to be an important tool for businesses and their ability to draw accurate, and helpful data insights which can drive their company forward. So, make sure you’re identifying all the ways it could help your business to become more streamlined and productive. 

Want to find out more about how AI could help reimagine your key data processes? Let’s chat.