Optimizing AI Efficiency: Effective Use of Data via Qymatix Cloud Connector
As businesses increasingly leverage artificial intelligence (AI) to streamline operations, optimize decision-making, and gain insights, the role of data as the lifeblood of AI has become indisputable. Data acts as the foundation upon which AI models are built, providing the raw materials necessary for AI to learn, adapt, and evolve.
However, manually handling and extracting data for AI can be time-consuming, costly, and fraught with errors. This is where the Qymatix cloud connector comes into play.
What are Algorithms - Easily Explained
Algorithms - the word gets tossed around today for everything from your basic Instagram feed recommendations to complex interfaces like ChatGPT. But what are algorithms? Are they just for computers? How do they help you?
In today’s article, we’ll explain what algorithms are and give some examples of how you can benefit from this ubiquitous but often-misunderstood technology.
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How to Improve your Pricing Policy with AI – Predicting Pricing
Most companies in the B2B sector have so far adjusted their prices based on factors such as production costs, competitive prices and supply and demand.
Especially in the current situation, both wholesalers and manufacturers are struggling with rising raw material prices. How can you pass on such a price increase without losing all your customers?
Dynamic pricing through AI-based predictive analytics, acts on a pricing strategy where companies can additionally adjust their prices for products and services based on the current customer and market situation. Thus, it is possible to make individual price adjustments per customer and product.
Predictive Analytics in B2B Sales - What it is and how to get Started
Predictive analytics technologies are becoming increasingly popular and are already being used today, especially by wholesalers and manufacturers in business-to-business (B2B) sales.
Perhaps you have already made some elaborate attempts to implement predictive sales analytics with Excel or other spreadsheet programmes. Then you've come to the right place.
Predictive Sales Analytics is a modern technology to look into the future of your sales. Using machine learning methods, Predictive Sales Analytics allows you to make accurate sales forecasts: Customer churn forecasts, cross-selling forecasts and dynamic pricing.
3 Simple Ways B2B Sales Can Use ChatGPT - Examples
As a B2B sales manager, you understand the pressure of competing against e-commerce giants. In the current digital age, the success of your business largely depends on your ability to understand your customers better and predict their buying behaviour.
Take heart; you're not alone. The solution lies in AI. Have you heard of ChatGPT? Here is where AI for B2B sales shines. Like automated sales analytics and predictive sales software, you can better understand your customers and make informed decisions based on data.
Why AI-based B2B Sales Forecasting is Important and Still Fails
Do you want to realize your potential in B2B sales and be more successful than the competition? Accurate AI-based b2b sales forecasting is an insider's tip - right?
To help you understand what you should know primarily about b2b sales forecasting, I will quote Editor-in-Chief Michael Gilliland, who has published several articles in "The International Journal of Applied Forecasting."
"Our forecasts are never as accurate as we would like them to be or as they should be. The result is a great urge to throw money at the problem in the hope that the problem will go away. There are many consultants and software vendors out there who will scoop up the money in exchange for promises to improve forecast quality, but those promises still need to be fulfilled. Many organizations, perhaps including yours, have spent thousands or even millions of dollars on the forecasting problem, only to end up back with the same lousy forecast."
Sounds very motivating. The quote does not mean to be an introduction to an anti-forecast article, but it reflects the reality in many companies.
The Importance of Recommendation Systems Nowadays
How do recommendation systems work and why are they important for B2B companies?
In recent years, the rapid use of the internet has made it clear that it is the most popular for communication and product purchases. As a result, the amount of available digital information has been increased.
This situation has created the challenge of information overload which hinders timely access to items of interest on the Internet. Although the so-called information retrieval systems, such as Google, are a partial solution, these systems are unable to map available content to user’s interests and preferences.
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Autonomous AI - when does the computer bear responsibility for errors?
Artificial intelligence is taking over more and more tasks in companies. But what if they make a mistake? Who can be held responsible for it?
