Although all organizations operating in the open market strive for operational excellence, there are a select few who achieve this long-term goal. After all, continuously assessing and improving the level of performance of every wing of your business is no small task.
In recent years, AI and machine learning have emerged as the go-to choices for businesses that try to achieve operational excellence. When used correctly, the two can help a business make insightful decisions that improve the profitability of the business and enhance the end-user experience.
Here’s how AI and Machine Learning help businesses achieve operational excellence.
1. Improved Data Analytics:
It’s an open secret that machine learning is somewhat dependent on data analytics. In other words, this technology allows a machine to follow a preset algorithm to systematically read large sets of data, analyze them, and make accurate predictions based on previous market trends.
The process of the machine following a sophisticated algorithm to determine the relationship between two variables is commonly referred to as deep learning and can be used to achieve operational excellence.
2. Real-Time Decision Making:
Even a blind person has hindsight; if your business really wants to take the open market by storm then it needs to be able to act in real-time. This is where Artificial Intelligence comes into the picture.
Gone are the days when company think tanks and bigwigs would have to call a meeting and present their case to the board before making a decision as machine learning makes all that redundant.
By delivering concise and comprehensive reports, AI and machine learning empowers businesses to make real-time decisions, which gives them a competitive edge over their rivals.
3. Eliminating Losses:
The best thing about machine learning is that it automatically highlights areas that require immediate attention such as consistent losses. Given the fact that nearly $62 billion is lost every due to poor customer service, AI and machine learning help companies help enhance the end-user experience to ensure that you’re not contributing to this step.
There are countless examples of big organizations using machine learning to identify areas of improvement and taking the relevant steps needed to minimize their losses. For example, the US postal service uses machine learning to arrange the mail it receives by ZIP code, which allows the body to process more than 18,000 pieces of mail in an hour!
In short, by visualizing key operational processes, designing efficient workflows, and developing insightful metrics to gauge the performance of your business, you can take the first step to achieve operational excellence.
And there you have it; how AI and machine learning can help you drive continuous improvement. We hope that clears any doubts you may have had about the correlation between the two.
The Crave InfoTech team has been closely associated with SAP since 2007. Owing to our experience in the industry, we have helped countless organizations and firm improve their operational efficiency to achieve OE.
We provide reliable and cost-effective RDS for SAP Mobile Platform, Mobile Inventory and Warehouse Management, and SAP Enterprise Mobility Solutions to our clients. Contact us today to learn how your business stands to benefit from our contributions!