Demand for Einstein Analytics on the Rise
Rapid growth in available data has increased the amount of time and sophistication necessary to make sense of enormous data. Making this data actionable has become its own industry. Demand for artificial intelligence (AI) is burgeoning quickly. According to Statista market research, the market for AI will increase from $9.5 billion in 2018 to $118.6 billion by 2025 in the US alone. How long ago did point of care first responders only dream of using AI-driven hand-held ultrasound to assess injury; AI-driven pattern detection systems now diagnose and inform emergency personnel when abnormalities are detected and suggest next course of action. Similarly, Salesforce Einstein Analytics Platform is the leading innovation in business intelligence. While Salesforce CRM is the leading software in increasing business data visibility, Einstein Analytics was developed specifically to expand business user-centric access to analytic apps leveraging algorithms to identify trends too complicated to view or detect otherwise, diagnose shortfalls, and suggest next actions.
“AI is the next platform-all future applications, all future capabilities for all companies will be built on AI”.
– Marc Benioff
Our Five biggest wins for clients benefiting from Einstein Analytics:
1) Increased Visibility: Companies have a massive amount of available data that can be analyzed by business administrators. But how much of that data is really useful? How much of what is useful data gets wasted in a mind-numbing blitz of numeric tables, keys, and incomprehensible character strings? Einstein Discovery and insights leverages intuitive prebuilt apps to granularly extract and group BILLIONS of useful data points in visually clear and identifiable dashboards. These dynamic visual aids make it easy to compare and contrast patterns of key metrics so relationship combinations can be detected and acted upon. Evaluative higher order analyses such as trends, historical pipeline information, and newly emerging key performance indicators (KPIs) can be revealed to drive business – on any device.
2) Better Predictive Accuracy: The Einstein Platform uses automated machine learning to forecast intuitive insights behind a prediction. Over the course of time, modular waves of additive business data frames up a treacherous management terrain laden with many pitfalls that can easily lead even experienced executives astray. Exposing sore points for avoidance while capitalizing on accurately proven trends not only requires experts in subfields of business, but the proper tools with the precision to execute targeted protocols. Einstein analytics does the heavy lifting while experienced professionals survey the horizon for new decision-invoking information, dynamically integrating known and emerging factors to grow business.
3) Business Efficiency: Business leaders can use AI to eliminate wasted time and expenses and improve service and productivity. For instance, sales reps can use Einstein Analytics AI to identify, score, prioritize, and predict the best next steps. This helps eliminate resources spent on pursuing poorly rated leads, entering data manually, and/or switching between systems to review data. Service reps can be more efficiently delegated to appropriate problem solving cases, increasing customer satisfaction and rep close rates. AI-driven proactive self service automation informs and empowers customers to help themselves, generating a sense of achievement and personal connection with products. AI ameliorates problems based on real-time identification of customer actions. Data queries and trigger automation enables automated scoring and assignment of tasks such as most likely up-selling candidates. Continuous monitoring and threshold checking of social network customer satisfaction scores checking ensure managers don’t miss important issues, engagements, and developments.
4) The Need for Speed: According to researchers at the University of Villanova, artificial intelligence and machine learning increase the speed at which statisticians, scientists and business executives can perform research by up to 40%. It is estimated that in the next two years 5.1 million jobs will shift from current responsibilities independent of direct interface with AI to utilizing AI on a regular basis, giving rise to a new field of cognitive computing. Agencies that perform repetitive tasks experience a dramatic increase in throughput via automation and programmatic processing. Machine learning can dynamically improve these processes as well as data is generated and further analyzed. Faster calculations, screening, process optimization, eliminating human error, and emerging computational technologies are but a handful of ways Einstein AI makes work easier and faster.
5) Value Creator: Often overlooked is an intangible “qualitative’ component to AI as well. Musicians have used AI to push through “writer’s block”. Scientists and professionals working in creative industries can benefit from novel connections revealed by AI and machine learning as unknown associations are detected. Furthermore, creative thinking teams (biological device developments, drug discovery, technology inventions) that generate innovative discoveries may spend a lot more time performing repetitive tasks to bring that product or service to market (regulatory, legal, manufacturing hurdles), thereby losing market share in the race against competitors. Businesses that do not harness the power of AI risk being out-competed by competitors armed with better tools. Einstein AI creates value by utilizing cognitive computing data to work with a diversified range of Citizen Data Scientist thinking types, from executives to manufacturing specialists, to help them be more productive. Research shows Salesforce implementation and adoption increases return on investment. For instance, one Total Economic Impact study shows 445% ROI over three years utilizing Anypoint API Platform. The Einstein Platform is regarded by Salesforce as the future of AI; it is expected to greatly augment yet exceed these revenue-driving Salesforce platforms.
Apps Associates can help
The Apps Associates Salesforce Practice has deep knowledge and experience around all things Salesforce. Our main goal, as an official Salesforce Partner, is to make sure that you, as the product owner, have a deep understanding of why certain changes need to be made, and recommend/guide you through how to implement those changes. We want to make sure you obtain maximum business value from Salesforce environment, so if you are still unsure about what your next move is reach out!