The age of prescriptive analytics has arrived: Are you equipped?
In the ever-expanding universe of market research, a new star has emerged on the horizon: prescriptive analytics.
For years, we’ve navigated the terrain of “what is” with descriptive analytics and gazed into the crystal ball of "what could be" using predictive analytics models. Now the time has come to step into the world where data doesn't just inform us or forecast for us — it advises us.
At Bellomy, we’re proud to announce a groundbreaking addition to our state-of-the-art Research Cloud: an AI-powered recommendations feature in our text analytics tool. This isn't just another step in data analytics; it’s a leap.
By fusing cutting-edge generative AI with sophisticated deep learning, our tools are bringing to life the long-anticipated age of prescriptive analytics — and without overshadowing the relevance of our tried-and-true descriptive and predictive tools.
This new prescriptive analytics feature is a quantum leap for strategic decision-making, offering businesses the advantage of identifying actionable recommendations in real time and ahead of the competition. Join me as we break new ground and explore how this transformative technology will redefine what it means for companies to harness insights in market research.
Bridging insights & action with AI
Prescriptive analytics — the evolution of analytics — combines the clarity of descriptive analytics with artificial intelligence and the foresight of predictive analytics models. It suggests a course of action, going beyond analytics as we know it, through the intelligent application of machine learning and deep learning. These AI capabilities allow our Research Cloud to prescribe data-driven recommendations, immediately transforming data into actionable insights.
Our new feature in text analytics represents the essence of prescriptive analytics. It doesn't just interpret or forecast data — it offers actionable advice. By doing so, it empowers businesses to not just anticipate but also shape and optimize their future with precision and agility.
Practical application in a user-centric design
Our Research Cloud’s recommendations feature is seamlessly integrated into the AI Analytics for Text suite. It begins with an intuitive dialogue with our AI, wherein users set their goals and objectives. After this initial step, the AI takes over, sifting through data to surface actionable recommendations that resonate with the user’s strategic business intelligence needs.
The recommendations are then applied across the dataset, identifying relevant actions for individual consumer comments. This process is achieved with efficiency that traditional analysis methods can't match, turning hours of work into minutes while equipping users with the tools to not just view the recommendations, but validate them and even take action.
The art of validation & refinement
But the work doesn't end with the generation of recommendations. Users then undertake the critical task of validating and refining these suggestions, ensuring they are practical and aligned with business objectives. They evaluate each recommendation, digging deeper into the data, and fine-tuning the AI's findings to incorporate the subtleties of their unique business context.
The AI remains a steadfast assistant throughout, ready to delve deeper into and analyze the data upon the user's inquiry. The result is a set of not just data-driven but expertly crafted recommendations, ready for strategic implementation. Combining the nuanced and experienced skills of researchers with the power of AI to discover drivers long hidden in consumer feedback elevates the research experience.
Harnessing recommendations powered by artificial intelligence
The introduction of the recommendations feature signifies a revolution in market research technology. It optimizes the partnership between advanced technology and human insight, as the recommendations facilitate more efficient and informed decision-making processes.
The true value of the AI's recommendations is realized when they are paired with the expertise of research professionals. Their deep understanding of market dynamics and business strategic objectives ensures that AI suggestions are not only relevant but also actionable.
Embracing the future of data analytics
As we look toward the future, the synergy between AI and human expertise within our Research Cloud goes beyond insightful analysis — it offers a pathway to strategic and successful business outcomes in a competitive market. Simply put, AI-powered recommendations can empower a business with actionable insights and superior information for strategic decisions. Bellomy’s prescriptive analytics offer businesses a more informed, agile response to market trends and consumer behavior. This is, we believe at Bellomy, the future of market research.
Matt Gullett, Bellomy’s SVP of Insights Technology, is a driving force behind Bellomy AI Analytics for Texts. An employee of more than 20 years, he loves thinking and writing about AI.
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Questions to consider around AI and market research
Matthew Gullett, Bellomy’s SVP of Insights Technology and a driving force behind Bellomy AI Analytics, has thoughts about the future of market research in a world with AI.
