- AI Tool Report
- Posts
- 🔓 AI Report — AI x Business Analysis
🔓 AI Report — AI x Business Analysis
👉 Skool Subscribers Got This 8 Weeks Ago...
Liam Lawson & Martin Crowley
October 13, 2024
Every week, we release an issue like this to our Skool community…
This (reduced) issue on Business Analysis and AI was released 8 weeks ago to Skool members.
During the time you’ve not been a Skool member, we’ve also published
AI x Analytics
AI x Automation
AI x Project Management
AI x Artistic Creativity
AI x Customer Service
AI x Banking
AI x Self-Study
AI x Legal Compliance
AI x Software engineering
You’ll gain access to the full versions of all of these issues + all future issues!
⚡️ Business Analysis + AI ⚡️
Making sense of data is tough. Whether you’re juggling multiple data sources, sifting through vast amounts of information, or trying to predict market trends, business analytics can be overwhelming for both small and large businesses alike.
AI makes it easy. Providing sharper insights, automating routine tasks, and predicting market trends with greater accuracy, AI can transform your approach to business analytics.
In this AI Report:
💻 Case Study: Akkio Skyrockets SEO Performance with AI
🤖 A Key Way to Use AI to Succeed: How to Simplify Complex Data Analysis
📚 Further Reading and Supplemental Resources
Read Time: 11 Minutes
CASE STUDY
📈 97% of Content in Top 10 SEO with AI
Over 90% of content receives no organic visits from Google. It’s an uphill battle for agencies and their clients to get visibility in an over-saturated market.
Alex Denning, founder of the SEO content agency Ellipsis, experienced this struggle firsthand.
"Traditional SEO content is extremely wasteful, generating minimal results despite the substantial allocation of time, energy, and resources.”
Clients were canceling their monthly retainers due to inconsistent results. Even when content appeared optimized, just one out of five pieces would rank well on Google, while the rest yielded no results. Ranking in the top 10 took a frustrating 3-6 months.
Determined to find an answer, Denning turned to AI. Using Akkio's no-code machine learning platform, Ellipsis created FALCON AI, a predictive platform that has transformed its SEO content strategy.
"With Akkio, we were able to create custom models for FALCON AI, fundamentally transforming our SEO content strategy."
The results were astounding. One client saw 97% of FALCON-powered content ranking in the top 10 positions on SERPs. Clients achieved top 10 rankings three times faster than before. Beyond keyword identification, Ellipsis used Akkio to predict lead conversion and service interest from contact forms.
"Akkio has let us build and deploy predictive models with no code, in no time."
FALCON AI-powered content saw a remarkable 95% increase, outperforming traditional content fourfold.
🔑 Key Takeaways for Your Business
No-Code ML is Accessible: Platforms like Akkio make machine learning accessible to businesses without requiring coding expertise.
Boosted SEO Efficiency: Implementing AI like FALCON can significantly improve SEO results, achieving top rankings.
Faster Results: Clients using AI-powered strategies achieved top 10 rankings three times faster than traditional methods.
Enhanced Predictive Insights: Custom AI models can accurately predict lead conversions and service interests, guiding better decision-making.
Together with Hubspot
Discover how to streamline your workflow, boost efficiency, and uncover deeper insights faster. This essential ebook gives actionable strategies, practical tools, and expert tips to help you harness the power of AI and revolutionize your data analysis capabilities.
A KEY STRATEGY TO SUCCEED
1) Power of AI for Data Analytics 📊
Data analysis used to be a complex field, requiring deep mathematical knowledge and software expertise. But with the rise of AI, anyone with the right questions can become an analyst.
💡 Introducing Julius.ai, a powerful AI tool that acts as a data analytics multi-tool.
Julius.ai delivers a diverse set of features for data analysis, including:
Data upload and cleaning
Advanced analytics
Data visualization
Automated report generation
Let's walk through an example of how you could use Julius.ai to analyze customer behavior and gain valuable insights.
Example: Analyzing the Impact of Demographics on Customer Spending
Say you want to understand how customer demographics impact spending patterns. Here's how you could tackle that with Julius.ai
1. First, drag and drop the spreadsheet containing your customer data into Julius.ai.
2. Let's start by looking at high-level trends. You can ask Julius.ai a question like this:
Please plot earnings vs total spend with a regression line on a scatter plot.
3. The resulting visualization will show a clear correlation between earnings and total spending. Higher earnings tends to mean higher spending.
4. Next, let's dig deeper and look at how this relationship varies across different spending categories. Try a prompt like:
Give me a heatmap of the correlation matrix of earnings vs the different spending categories.
5. The heatmap reveals that earnings are most highly correlated with spending on wine & meat products. Interestingly, it also shows that people who buy desserts are unlikely to buy wine.
This is a simplified example, but you can apply similar techniques to any dataset in any part of your business, from sales to HR to operations.
Julius.ai empowers non-technical users to extract valuable insights from data, without needing to learn complex tools or programming languages.
ChatGPT's Enhanced Data Analytics Capabilities
ChatGPT itself also has powerful data analytics capabilities that have been significantly enhanced in recent updates.
💡 Here's what's new with data analysis in ChatGPT:
You can now directly import spreadsheets from Google Drive and Microsoft OneDrive. No more copying and pasting data!
There is a new side-by-side spreadsheet + chat view. You can select portions of the data to chat about and analyze the data in a more dedicated interface.
The data visualizations have been dramatically improved. While older versions generated simplistic graphs, the new tools create interactive visualizations that you can customize and easily download.
To try out these new features:
1. In ChatGPT, select the "Upload file" button and choose a spreadsheet from your Google Drive or OneDrive.
2. Once uploaded, you'll see the new side-by-side view with your spreadsheet on the left and the chat on the right.
3. You can ask questions about the data, make selections, and generate visualizations, all within the ChatGPT interface.
For example, let's say you've uploaded sales data and want to understand trends over time. You could say:
Create a line chart showing monthly sales over the past year.
Color-code it by product category.
Include a legend and title the chart "Monthly Sales by Category".
ChatGPT will generate an interactive chart matching your specifications, which you can then refine further or download for use in presentations or reports.
⚡ AI is democratizing data analysis and enabling data-driven decision making for businesses of all sizes.
FURTHER READING
🎧️ Podcasts & Talks
"AI for Business Analysis" — Susan Moore and Scott Bennett from the International Institute of Business Analysis sit with guest Vincent Mirabelli, a leading expert in business analysis, to explore AI's impact on the field.
"How AI Will Impact the Future of Business Analysts" — Google Cloud Tech explores how AI is transforming business analytics and DevOps with experts Firat Tekiner and Forrest Brazel.
📖 Books
"The Handbook of Data Science and AI" — Stefan Papp and co-authors present practical applications, case studies, and examples to help you harness data science and AI for real-world projects.
"AI-Assisted Data Science" — Cornell professor Immanuel Trummer guides you through using AI assistants like ChatGPT to speed up data analysis, with practical techniques and advanced tools.
📲 Influencers
Vincent Mirabelli — Keynote speaker, LinkedIn instructor, and TEDx speaker helping leaders grow their impact and value through strategic business analysis and organizational development.
Levine Ruskin — AI Product Manager and Business Analyst driving growth and innovation. Expert in leveraging AI to create impactful products and services across healthcare, fintech, and more.
📃 Articles
"How AI Will Affect Business Analysis in 2024" — Shaz Shafiq explores AI's role in revolutionizing business analysis, enhancing data insights, predictive analytics, and automating tasks while emphasizing the continued importance of human analysts.
"Transformative Impact of AI in Business Analysis" — Discover how AI revolutionizes business analysis by enhancing data insights, automating tasks, personalizing customer experiences, and improving predictive analytics, driving growth and competitiveness.
📹️ YouTube Tutorials
"How to Use ChatGPT as a Business Analyst" — Discover how ChatGPT can enhance your business analysis workflow.
"Analyze ANY Dataset in SECONDS with Julius AI" — Dr. Amina Yonis shows how Julius AI analyzes datasets without coding. Quickly generate insights and visualizations like scatter plots and correlation matrices.
Want to master 6 crucial AI skills in just 6 weeks? Join the AI Reports AI Skill Sprint, on Skool, now!
✅ What You'll Learn: Course 1 is about finding ways to assess and enhance your organization’s readiness for AI integration. Ben Etherington, from the Founders Forge team, will give you practical ways to align AI with your business strategy and tell you how to implement them across all areas of your business, effectively.
🫱🏻🫲🏻 You can connect with Ben on LinkedIn.
We read your emails, comments, and poll replies daily.
Hit reply and let us know what you want more of.
❗To get the full version of this newsletter—complete with the full 3 strategies to succeed with Business Analysis + AI—and access to all future AI Report newsletters, join the Skool community now.