- Algorithm Development
Beyond a strong pipeline, you need algorithms to transform data into actionable insights that allow you to anticipate trends and make data-driven decisions.
“Data by itself doesn't do anything,” Iansiti says in AI Essentials for Business. “You actually need to figure out which algorithm you're going to choose. You're going to figure out what type of algorithm you need. You need to figure out what to do with it.”
Not every algorithm is created equal. With a range of data types, you must select one that aligns with your business goals and objectives. That involves considering your data’s characteristics and the predictions or outcomes you want to achieve.