In areportrecently released by PwC entitled PwC’s Data and Analytics Survey 2016: Big Decisions TM, it was revealed that “we’re at an inflection point where artificial intelligence can help business make better and faster decisions.” The said report “shows that most executives say their next big decision will rely mostly on human judgment, minds more than machines. However, with the emergence of artificial intelligence, we see a great opportunity for executives to supplement their human judgment with data-driven insights to fundamentally change the way they make decisions.”
In our discussions with notable thought leaders in this space for the upcoming Chief Analytics Officer Forum Fall on 5-7 October in New York, we got a deeper insight as to how this trend is felt and viewed on the ground. For example, John France, Head of Sales Operations & Analytics at VALEANT PHARMACEUTICALS sees that the opportunities are limitless. He said that, “if there was a machine that could scan you at home and provide an instant reading on your health (heart, blood pressure, cholesterol, diet, etc…) and then deliver an action plan to correct such as what to eat that day, a work out regime, what meds to take, etc… that could really help save lives”
On the other hand, John Lodmell, VP, Credit & Data Analytics, ADVANCE AMERICA believes that the increasing collection of geographic information from cell phones or fitness trackers will open up a lot of big data opportunities around movement and traffic patterns. “If you think back to vehicle traffic studies putting “car counters” across the road to track every-time a car crossed a certain point, we now have much richer data and collection techniques that are not fixed to tracking crossing a single point, but overall movement. I remember hearing years ago that a large retail store was tracking traffic patterns within the stores seeing where customers went. It provided them tons of useful information around where to place promotional items and how to make things more convenient for customers to find. I can only imagine that type of information being used for urban planning or store marketing,” he said.
Read our full interviews by clicking on the links below: