More and more, we’re seeing industries move toward integrating artificial intelligence (AI) into operations structures. That said, it’s essential for distributors to develop literacy and understanding of how to leverage this kind of technological advancement.
First, consider developing a blueprint for how to gather, store and apply data beyond just transactions. This includes recording and organizing all data using a disciplined, quantitative approach. It’s one thing to collect data, but being capable of analyzing information and applying new findings is the greater challenge.
Companies who move in this direction can set up simple data tools or bring on a contract data scientist. Data scientists can bring important insight when it comes to understanding how and where people spend their time (and money), ultimately informing better business decisions.
With the world changing every day, taking an intelligent approach toward collecting data can help move the company in the right direction while keeping pace with the latest trends.
In this video, Mike Marks talks about how distributors can prepare for the world of AI: