It’s no secret that data is being given more value in today’s digital world. With developments in data science, we have a higher volume of information than we’ve ever had before. But this comes with a set of challenges, including a constantly changing landscape, a general lack of data literacy, and difficult-to-use tools.
So, are you feeling the pressure to grab ahold of data like so many of your competitors, but you’re not sure how to make sense of it? Luckily for you, that is exactly what an algorithm does, and it doesn’t have to involve complicated and stressful software.
We know it sounds impossible, but it isn’t. In a short while, you will discover that some of the most valuable tools are within reach, if you know where to find them. We will make it easy by introducing you to our top picks and the algorithms that make them so essential.
What is meant by an algorithm?
For optimization of these impressive tools, you need a solid understanding of what an algorithm is. The process involves a routine of taking inputs and producing outputs. This clever set of instructions solves a problem or completes a task repetitively and accurately.
There are different algorithms that have different capabilities. Below are some examples:
- Recursive algorithm: In computer science, a recursive algorithm is one that can solve problems by making a copy of itself and then solving smaller subproblems. These are sophisticated algorithms that can solve complex problems and mathematical operations.
- Sorting algorithm: This algorithm is an easier one to understand. It simply sorts the input data into a list of a specific order. For example, alphabetizing data or ordering based on date.
- Encryption algorithm: This type of data processing is primarily used for making data unreadable. This can keep it safe and mean only authorized people will be able to read it. The algorithm does this by transforming normal text into ciphertext, which means random, unreadable text. This is also similar to a hashing algorithm.
- Machine learning algorithm: This algorithm can learn and adapt when it is fed large amounts of training data, meaning minimal human intervention is needed.
- Randomized algorithm: This algorithm uses randomness to find a solution. Think of it like trial and error. This means they won’t necessarily be used for optimization problems, but more for problems that need a quick solution.
- Backtracking algorithm: This algorithm is used by data scientists when they need to find all possible solutions to a problem, rather than just the best or most optimal solution.
- Search algorithm: These algorithms simply retrieve answers from existing data structures. This means you simply need to search for a query and the algorithm will search a database and retrieve answers.
We’re truly in the golden age of algorithms. They have become the hot topic of conversation in many industries, so naturally, businesses are implementing them. We’re sure you’ve heard someone discussing these common examples recently or in the news.
- Artificial intelligence (AI). A set of algorithms that can modify and develop in response to learned behavior and inputs.
- Machine learning (ML). A branch of artificial intelligence (AI) which uses data and algorithms to give machines the ability to learn. Therefore, outcomes can be predicted with much more accuracy than before. A learning algorithm is a method used to process data for application in a new situation.
- Deep learning (DL). A subset of ML and a class of algorithms that simulates the human brain. It is based on the use of neural networks. From this process, machines can learn from significant amounts of data.
What are algorithms tools used for in business?
As a business, it’s crucial to keep your workforce satisfied, promote efficient workflow, and keep up with market changes if you want to see results. None of these are easy to fulfill without help. Algorithms ease these stresses through their variety of functions, such as:
- Predicting customer intent and deepening understanding
- Identifying patterns in consumer behavior
- Eliminating repetitive tasks
- Forecasting to predict future demand
- Conducting data analysis and creating metrics from on-site data sets
- Automating conversations with users on social media and email
Insight-driven businesses are growing at an average of 30% each year. There isn’t a better time to familizarize yourself with these tools, and the algorithms at their core, so you can get the most intelligent understanding of your company and the data it produces.
Our top 3 algorithm tools for a thriving business
Your business shouldn’t lose momentum because the latest trends in technology are out of your reach. At Top Apps, we know that a thriving business is achievable for every owner when they make the most of resources, research, and knowledge. So, here are the 3 most essential algorithm analysis tools that you need to be aware of.
As we mentioned before, companies need to be data-driven to keep their competitive advantage. Data optimizes performance by eliminating guesswork, building a foundation for business judgements, and identifying new opportunities. Organizations that jump on board are 3 times more likely to report significant improvements in decision-making.
But not every company will have a data scientist to assist them, so are they supposed to fall behind? Not with SAS Viya. Over 90% of the largest global firms use SAS, so the company is trusted by a large majority. Why? It empowers your whole team through ML capabilities, ease of use, and global tech support.
The open-source cloud platform offers all-in-one packaged solutions for data analytics, visualization, and conversational AI. SAS Viya also uses innovative ML algorithms to make the platform more accessible, regardless of your technical skill. Here are some of the other reasons why this tool should be on your radar.
- Any insights can be shared and collaborated on with a Microsoft 365 integration. You can develop stronger insights, encourage teamwork, and uncover relationships in the data.
- With automation built in, you can create detailed and visual reports about your findings.
- SAS Viya provides interoperability, integration with Python, and extensibility with APIs to suit every user’s requirements.
- Complex analytical problems can be solved in a fraction of the time with this tried-and-tested analytics platform. It couldn’t be simpler to process and anaylze big data.
- Understand your customers and operations in a way that is impossible without this intelligence, so you can feel confident that you’re making the right business decisions.
Sas Viya offers a free trial so you can get to grips with the solutions before buying. There is a range of offerings to consider, depending on your tech complexity, company needs, and team members. You can find exactly what meets your requirements and you won’t have to pay more than you need to. Below is a comparison of the plans available.
Well-formulated strategies are crucial for success, but 67% of them fail due to poor execution. There couldn’t be a better time to utilize an intelligent planning platform, and Board is a must-have. The solution’s algorithms, which are mostly based on AI, have a multitude of inspiring capabilities, so you never have to look at a spreadsheet again.
You can expect features from a real-time view of business performance and AI-driven forecasting to seamless planning of finances. Having this documentation in one place will boost organization in every department, so no one works blind. A successful company is built on confidence, knowledge, and collaboration. This is all achievable with Board.
The platform is trusted by over 2,000 leading businesses, with Coca-Cola included. So, what makes it good enough for these giants? Board was built with business users and enterprises in mind, so you can be assured that it’s user-friendly, low-code, and customizable. Below are some of the other reasons why this tool is indispensable.
- A fully customizable calendar feature that combines with any financial planning documentation to keep everyone on track with realistic goals.
- Integrated workflow management, which includes but is not limited to validation processes and conditional alerting.
- Unlimited plan versions to illustrate the development of forecasts. This means any changes can be easily documented for the future and can be compared with results as they happen.
- Collaboration tools allow departments and teams to be unified, which prompts innovation and satisfaction.
- The ability to create intelligent business outcomes and predictions with Board’s simulation feature. This makes planning for potential challenges so much simpler and eliminates the fear of something going wrong.
Though there is no option for a free trial, the business allows you to request a free demo. This means you won’t need to commit to anything before you feel confident with the tool. Quotes and pricing information are available, depending on your needs.
3. Market Brew
Search engine optimization (SEO) is something that should be on every business owner’s mind. If your company could benefit from brand awareness, credibility, and online visibility, then it’s something you should implement.
68% of all online experiences start with a search engine. You can see for yourself that well-implemented SEO has a huge impact on your overall performance. Now, all you need is a way to gain insights and analysis beyond human capabilities for even greater success.
Market Brew is a provider of AI SEO software. It claims to be the most advanced platform of its kind, which it proves with its abilities. The ML algorithms identify statistical gaps between your landing page and those that outperform yours. The platform helps you to leverage yourself as the leader by mimicking the ranking factors of any search engine.
- Only beginner SEO and HTML knowledge is required, making it easily adaptable and appropriate for any team member.
- The platform lets you A/B test changes you want to make to your content, prototypes, webpage, or website to predict your SEO ranking outcome. All before Google even sees it.
- Users can view the Query Score for any search result. Through this, you can discover the exact search query or term to more accurately target your audience.
- Market Brew uses data to build their own in-house knowledge graphs so you can boost user experience and improve rankings.
- The search engine models provide a real and accurate explanation of why sites are ranking and which algorithms are responsible.
Market Brew does not offer a free trial, but you can book a complimentary demo so you can decide if the software is a good fit for your business. The platform also offers a standard agreement, which you can find below.
These platforms are essential because they give business owners the power to harness their data. The beauty of an algorithm tool is that you get to solve the problem yourself and in your own way, with all the help you need. We believe that’s exactly how it should be done.
To be one step ahead, you need to be strides into the future. Embrace AI and its curious technologies with open arms. Just like so many giants who use algorithms to better themselves, such as Netflix and Google. Hopefully, this list has proved to you that ML, AI, DL, and other game-changing algorithms aren’t reserved for big tech.
There is no template to follow. You will have your goals, pain points, budget, and employee skill sets to take into consideration. But once you know what your business is missing and what implement tools to fill the gaps, you’ll be miles ahead of the competition.
To discover how else technology can make your life easier, and the applications that make it happen, explore the impressive range of AI-powered apps on our website here.