Machine learning is one of the many emerging technologies that have given business analysts a competitive edge in the current technological climate. This technology is able to offer accurate predictive models, which analysts can use to generate creative and innovative solutions for organisations worldwide.
It’s common to find that whenever technology is introduced in business, there is often the perception amongst employees that they will be replaced by the fancy new technology. Machine learning. however, will have a more collaborative relationship with the business analyst.
So, what exactly is machine learning?
Machine learning is an emerging technology, which is a branch of Artificial Intelligence. It centres on the idea that systems can assess and learn from data to discover patterns and trends without the need for human intervention. This automation helps to analyse, measure and refine business processes. It also drives accuracy in predicting future outcomes.
How will machine learning change the role of the business analyst?
- Machine driven analysis
Machine learning driven analysis will now be more common and easily accessible. The technology allows data and predictive analysis to be carried out in real-time, allowing machine learning to take over the manual data analysis part of a business analyst’s role. Business analysts will now be able to analyse large amounts of complex data using machine learning, without needing advanced knowledge of programming or data analysis. This means that business analysts will now be able to gather and use more meaningful insights with minimal time spent on data analysis.
- Human innovation
Machine learning does in fact have the potential to take the place of human labour and could leave many unemployed or with the need to be re-trained. In the case of the business analyst, however, machine learning will make the work done by humans more valuable. Business analysts will now be able to delegate mundane, tedious or repetitive tasks associated with the role, such as reading through and analysing large volumes of data. The use of machine learning for data analysis will allow the analyst to focus on tasks that provide the business with real value, such as coming up with innovative strategies and the means to improve processes.
- Changing the job market
While machine learning is unlikely to replace the human analyst, it is very likely to drastically change the business analyst job market. Machine learning technology will enable the role of the business analyst to be more global, broadening the talent pool for organisations. Previously, when business analysts were outsourced from different countries, there were several obstacles that prevented them from performing optimally, such as language barriers and time zone differences. With the implementation of machine learning, language translation, processing and understanding becomes more accessible. Machine translation is a powerful tool in a business analyst’s toolkit as it achieves the translation of entire sentences without losing the intended meaning. This is especially important during the interview process in business analysis. Machine learning also provides automation at all times of the day, eliminating the time zone challenge and allowing business analysts to be productive at any hour.
Do you need help with assessing the need for, or implementing a machine learning solution? Feel free to reach out to us at 021 447 5696, or email us at info@analyze.co.za.
