Artificial Neural Networks in Business Intelligence

Neural networks have become a great competitive advantage in many companies. Learn how to integrate them and start generating value in your organization.

Data is one of the great resources for companies in the 21st century. Having them is a competitive advantage over other companies. It provides innumerable benefits if you know how to use them properly.

However, it is only possible to get the best out of the data with a well-trained professional with the necessary knowledge to deal with it.

Through the Master in Data Analysis & Artificial Intelligence, students can make decisions based on data, organize it, visualize it, and apply it to new technologies such as artificial neural networks.

What are Artificial Neural Networks?

Artificial neural networks are a subset of machine learning. They are considered a pillar of Artificial Intelligence, a model based on the functioning of the human brain that tries to replicate it.

This system is formed from a set of nodes that artificially simulate neurons connected to transmit different signals. They receive the information, process it, and generate a response.

The objective of neural networks is to learn by modifying themselves and being able to carry out complex tasks. They are made so that a machine can solve problems only a human mind could solve.

The correct functioning of artificial neural networks requires a training process in which layers are formed that have a certain weight in decision-making.

Knowledge of these systems is perfected through images or data, and artificial neurons can identify and solve different situations as a human being would.

What Can Neural Networks Do?

The capabilities of artificial neural networks are very diverse and can bring many benefits to the companies that use them. The greater and better the amount of data a neural network works with, the better the results it will provide.

Some of its capabilities are truly amazing, such as:

  • They can predict different processes, such as weather changes, traffic jams, or the efficiency of medical treatment.
  •  They can recognize images or symbols: due to the amount of data they accumulate, they can identify images, music, videos, etc…
  •  They collect and analyze information: they manage and generate data and can find patterns to follow them.

Uses of Artificial Neural Networks in Business Intelligence

Due to their possibilities and capabilities, artificial neural networks are a very effective resource in business intelligence, so much so that they can be used transversally in various activities within the same company.

This technology can be applied at a strategic, tactical, or even operational level, and its implementation is extremely valuable for its contribution to analysis and predictions.

Electronic Commerce

One of the businesses most favored with neural networks is the e-commerce sector. Thanks to these technologies, online commerce can increase sales, generate cross-sells, customize shop windows for buyers, automate processes, and predict user needs.

The data obtained through sales and customer behavior are key for neural networks to improve the sales process in a company.

Finance and Insurance

The predictive capacity of neural networks can be to anticipate market movements, and not only that, through good use of these technological systems, banks can identify and prevent fraud, avoiding large economic losses.

In the same way, as in electronic commerce, the use of Artificial Intelligence for data allows for automating processes and improving the efficiency of workers.

The insurance world also benefits from the ability to predict and anticipate situations that may mean a loss for the company, as drivers are more prone to accidents.

Logistics

One field that can greatly benefit from this system is logistics since artificial neural networks can guide the entire freight transport process. In the same way, they can choose the most efficient and safest routes and balance assembly lines by analyzing the strengths and weaknesses of the assembly line.

Other Companies

In other sectors, such as health, the automotive industry, or the reception of calls, artificial neural networks can make a difference, always improving the efficiency of resources and providing better results.

Different advances generate multiple benefits in various businesses, always based on a good collection and interpretation of data.

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