How to make better business decisions using AI

One of the most underrated and underused features of AI is to help with business decision-making.

Whether it’s trained on your data to act like a business mentor, automating routine decisions or predicting key business trends through analytics, AI can be your business power-up.

Here’s five ways your business can get started:

1. CREATE AN AI BUSINESS COPILOT

One of the easiest and inexpensive way for any business to get value from AI, even going beyond helping with decision making. It’s one that is trained on your goals, missions, values, knowledge giving you a business mentor, advisor, content creator, 24/7 for any aspect of your business.
For example at 0260.AI, we use a business copilot from getting advice on how to implement AI for specific industries, to developing tailored business strategies to creating discovery presentation notes.

We use a CustomGPT because openAI makes it easy to access and has a knowledge source refer to.

I still can’t believe most businesses don’t have this.

2. OPTIMIZE YOUR DATA

Set up strong rules for handling data in your company to make sure the information given to AI is correct and reliable.

Example:
A retail company could automate the merging and cleansing of customer data from different sources (online, in-store, mobile) to create a unified customer database, enhancing the accuracy of customer insights.

3. IMPLEMENT PREDICTIVE ANALYTICS

Use AI to anticipate market trends and customer behaviors.

Example:
An e-commerce platform could employ AI algorithms to analyze past purchase data and predict future buying trends, helping adjust inventory levels in anticipation of increased demand.

4. AUTOMATE ROUTINE DECISIONS

Use AI to automate repetitive and low-complexity decisions to increase operational efficiency.

Example:
A financial services firm can perform credit checks and approve loans automatically, reducing processing times and human error.

5. ENHANCE CUSTOMER INSIGHTS

Apply AI tools (like digital assistants) to deepen understanding of customer preferences and enhance personalized marketing.

Example:
A hospitality business implements AI chatbot to get guest feedback and online reviews to tailor services and promotions to individual preferences and enhance guest satisfaction.

BONUS
6. CONTINUOUS LEARNING AND ADAPTATION

Ensure AI systems continuously learn from new data and adapt to changing conditions.

Example:
A construction company can monitor machine performance regularly, adapting maintenance schedules based on past equipment lifespan to prevent unexpected downtime.

These strategies show how businesses can integrate AI into their decision-making pretty quickly and improve efficiency, accuracy, and responsiveness.

How else have you used AI to help make business decisions?

Learn more about 0260.AI:
https://www.0260.ai/