Automated Predictive Analytics: Must-Use in Financial Services:
The 2020 Mordor Intelligence Report claims the global demand for AI in fintech will rise from $7.91 billion in 2020 to $26.67 billion by 2026 🔥
Real-time data analytics is crucial for #Fintech companies, as it allows data to be processed, measured, and evaluated immediately after entering a database
Whereas manual data analytics is cost-intensive and inaccurate, AI and Machine Learning can make real-time data available almost instantly.
Automated analytics helps businesses develop a data strategy with:
✅ Descriptive analytics - the raw data (sales numbers, counts, customer statistics) that you can turn into actionable information.
✅ Predictive analytics - uses AI, machine learning, and Big Data to predict events in the future.
✅ Prescriptive analytics - provides intelligent recommendations to drive you towards desired outcomes.