Artificial Intelligence for Business Analytics: Algorithms, Platforms and Application Scenarios

Artificial intelligence (AI) methods are increasingly being used in business analytics, and the amount of data produced is growing due to digitalization. This book provides a concise introduction to the essential aspects of using AI methods for business analytics, presents machine learning and the most important algorithms in a comprehensible form, and shows application scenarios from various industries. It also provides the Business Analytics Model for Artificial Intelligence, a reference procedure model for structuring BA and AI projects in the company.

Format: Paperback / softback
Length: 136 pages
Publication date: 02 March 2023
Publisher: Springer Fachmedien Wiesbaden

Artificial intelligence (AI) has emerged as a prominent topic in recent years, transitioning from scientific discussions to everyday products. This transformation is driven by the increasing digitalization, integration of digital measurement and control systems, and the proliferation of the Internet of Things (IoT). As a result, the amount of data produced and available is expanding rapidly.

In the future, traditional business intelligence (BI) and historical analysis alone will not suffice for most companies to remain competitive. Instead, businesses will require advanced analytics, including predictive and predictive analyses, and automated decision-making. This shift emphasizes the importance of leveraging artificial intelligence methods to extract valuable insights from data.

Artificial intelligence (AI) plays a crucial role in addressing the challenges posed by the growing volume of data. Machine learning algorithms, in particular, have gained prominence in this field, enabling computers to learn from data and make predictions based on patterns. This technology has numerous applications in business analytics, such as customer segmentation, fraud detection, and supply chain optimization.

This book aims to provide a comprehensive introduction to the essential aspects of using artificial intelligence methods for business analytics. It begins by providing a foundational understanding of machine learning and its key algorithms, presented in a user-friendly manner using the business analytics technology framework. The book then showcases real-world application scenarios from various industries, demonstrating how AI can be applied to solve complex business problems.

In addition to its theoretical content, the book offers a valuable reference procedure model called the Business Analytics Model for Artificial Intelligence. This model provides a structured approach for integrating BA and AI projects within companies, ensuring efficient collaboration and successful outcomes.

This book is a translation of the original German edition, "Künstliche Intelligenz für Business Analytics," published by Springer Fachmedien Wiesbaden GmbH, part of Springer Nature in 2020. The translation was accomplished with the assistance of artificial intelligence (machine translation by the service DeepL.com). A subsequent human revision was conducted primarily to enhance the content, resulting in a stylistic difference from the original.

In conclusion, the use of artificial intelligence methods for business analytics is rapidly growing, and this book provides a valuable guide for practitioners and professionals seeking to leverage AI to drive innovation and competitive advantage. As the amount of data continues to expand, the importance of advanced analytics will only increase, making this book an essential resource for anyone interested in staying ahead of the curve.

Weight: 263g
Dimension: 240 x 168 (mm)
ISBN-13: 9783658375980
Edition number: 1st ed. 2023