We offer business algorithm consulting services such as:
- Data science techniques to analyse your data and extract business value
- Decision making algorithms in languages like python and c++
- Algorithms to automate processes in your business, including machine learning and AI
- Optimization algorithms to optimize business processes
Algorithmic business is the approach of using mathematical algorithms to make decisions or optimize business activities. Most companies have already recognised the importance of investing in data-driven business algorithms. Forbes has called it the golden age of algorithms. See also Fortune’s article The Algorithm CEO. In this digital era of big data and fast computers, we are already seeing the impact of algorithms on business decision making. However, there is much more to come.
You’ve no doubt heard of examples like product recommendations and advert targeting, demand-based (dynamic) pricing, and predictive forecasting. But the scope of business algorithms extends far beyond these.
In fact, business algorithms can be used in any situation where data contains relevant information, but is particularly useful where machines can leverage the data in ways humans can not. Algorithms can make decisions within a fraction of a second which is important for time-critical applications, such as stock trading. The ability to act on data in real time, rather than wait days or weeks while human eyes analyse the information can be highly advantageous for businesses. Algorithms are also capable of analysing and integrating a vast array of disparate data sources which is simply beyond the capability of a human decision maker. And machine learning algorithms can discover relationships within data that humans wouldn’t suspect.
The process typically begins by noting all the data you have available to you, or which additional data sources you need to obtain. Then, mathematicians can get to work and, through data science, develop an algorithm which can output information of business value. Algorithms can be used to forecast the future, anticipate where faults are most likely to develop in a network or manufacturing process or which patients are most likely to develop a certain disease, automate processes that previously required human labor, find mathematically optimal solutions to resource deployment, match business operations to future demand and much more.
In particular, industrial algorithms are extremely important in configuring and optimizing manufacturing and logistics operations. See our page on machine learning. To learn more about the value that an algorithm and automation consulting service can bring to your business, see how algorithm consulting is taking over the world.
So, you’re a business owner who has heard stories about how your competitors are leveraging data and algorithms , and you want to get on board. Maybe you have a specific idea you want to discuss, or you’re just broadly interested in the possibilities. Either way, feel free to drop us a message to get the conversation started.