Your Business Needs AI: Get It Now With Microsoft Power BI

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Your Business Needs AI: Get It Now With Microsoft Power BI

Maybe you are among the small business owners who assume that only large organizations can benefit from and afford AI (Artificial Intelligence). But, in fact, all businesses could benefit from introducing  AI into their operations.  Further, you might be pleasantly surprised at the cost of adding AI to your arsenal of business tools.

What Is Artificial Intelligence?

So, what is AI, and why do you need it? AI is software that can process vast amounts of information and make intelligent decisions based on that data. AI is used across many disciplines, including learning, planning, and problem-solving.

One aspect of AI, machine learning (ML), can digest information and apply machine logic to reach informed reasonable conclusions about anything from sales projections to storm tracking. An exciting feature of ML is that, as more and more information is processed and the computer's findings are compared to actual outcomes, the software virtually self-corrects or "learns" from its mistakes, and its projections become increasingly valuable.

AI for any industry or business size

Even a small organization with just a handful of employees will benefit from AI. You can experience increased productivity, fewer errors, and more significant cost savings.

Some areas in which AI is valuable:

Repeated Tasks  - If your team members spend time on routine administrative work,  they will appreciate that many tasks can be automated.  Enhanced performance, reduced manual entry error, and freeing valuable resources for more income-generating tasks are some benefits of using AI.

For instance, AI can take over all routine processes in accounts payable or accounts receivable or handle routing and scheduling of service personnel. In effect, anything routine can be automated with AI.

Analysis -  If you need to identify top-performing product lines, super seller locations, equipment reaching its maximum use time, or competitors' marketing activities, you need AI. In addition, AI helps when it comes to corporate performance management. Traditional analytics typically only involves reporting historical information; that's not true business intelligence.

Business analysis and business intelligence help you use historical and current data to gain critical insights for strategic application. Corporate Performance Management (CPM) then adds the process, methodologies, metrics, and systems used to manage your business's performance.

Chatbots  - If you'd rather have your customer-facing reps keep up with prospect calls instead of answering frequently asked questions,  think about adding a chatbot to your website. A chatbot will automatically handle common troubleshooting queries that take up time but don't increase revenue.

So you see, there are many places where AI and ML can help you and your organization become more efficient, effective, and competitive.

Small business, AI, and ML

You may already have tools that give you AI and ML advantages; think "Alexa" and "Siri."  But the best all-around business application for AI is Microsoft Power BI (Business Intelligence).

Power BI is a business analytics tool. It accepts data from various sources and processes it to produce reports, dashboards, and graphs. This analytics tool works quickly and requires minimal technical knowledge.

Since Power BI runs on Microsoft's Azure platform, it can use many of Azure's AI and ML tools and apply them to your organization's data.

In addition,  there are extensions such as Late Payment Predictions pre-built for Microsoft Dynamics 365 Business Central and ready to use.

Power BI features

Using Azure Cognitive Services, Power BI can identify patterns from images, documents, social media feeds, etc., to determine sentiment and detect phrases, helping businesses extract actionable insights from their data.

Azure also helps Power BI perform key driver analysis to track metrics and key performance indicators (KPIs) to identify and understand the factors influencing these metrics.

Azure Machine Learning provides a no-code option for Power BI users to build their own ML models. For instance, you could create a model to help your sales team predict the probability of opportunities resulting in sales.

Tap into AI with Microsoft Power BI

AI and ML have been available for a while, but now they have become viable for small businesses too. With affordable options, there is no reason that organizations of any size can't benefit by including them in their daily operations. Companies can begin by automating their routine tasks to reduce errors and free up valuable resources for more productive tasks.

Microsoft Power BI is an easy-to-learn and easy-to-use business intelligence tool well suited to small and mid-sized companies.  With power BI, your team can access many AI and ML tools from Microsoft's Azure platform.

Would you like to know more about Power BI and how it can benefit your small or mid-sized business? Contact our team at ArcherPoint today to discuss how we can make AI work for you.

By ArcherPoint, www.archerpoint.com

 

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