5Y and AI: How we accelerate customer data journey with artificial intelligence

From conversations with clients, it’s clear businesses are eager to use AI to optimise processes, improve results and differentiate themselves from competitors.

We’re no different.

At 5Y, we understand the transformative role AI can play in unlocking data and generating insights that drive business growth. It’s why we help customers leverage it in two distinct ways:

1. To unlock their data faster

2. To generate predictive insights

This article explains the benefits of both approaches and gives you a taste of how 5Y and AI can help.

Unlocking your data with AI

Unlocking data is the first step in any data analytics journey. But traditional methods of data extraction and integration are often manual, time-consuming, and prone to errors.

We’re using AI to break these norms, bringing automation, speed, and accuracy to the process. Our solution is embedded with AI to accelerate the extraction and transformation of data from our customers' core systems to the 5Y Unified Data Platform.

Using AI to unlock your data in this way comes with several benefits:

• Faster results. By leveraging AI, we reduce data engineering time by over 80%. This efficiency allows us to rapidly provide solutions to customers, even when connecting to systems we have never integrated before, such as legacy tools and custom applications.

• Greater scalability and flexibility. Our AI-driven approach ensures that we can handle diverse data sources and systems, making it easier for customers to integrate their data into a unified platform.

• Enhanced accuracy: AI minimises errors in data extraction and transformation, ensuring that the data is clean, reliable, and ready for analysis.

In short, AI helps us implement faster, reduce engineering costs and deliver 80% of your BI reporting requirements out of the box.

Leveraging AI on unlocked data

Unlocking your data is only half the battle.

We’ve written previously about the importance (and limitations) of data when it comes to AI. To recap, AI and machine learning algorithms need accurate and clean data to deliver results. You can try to run a model on raw data, but you’re not going to get the results you want.

Our Unified Data Platform does the hard work of getting your data ready for AI by:

• Centralising it in a single location

• Removing duplicate entries

• Transforming it into a standard format

In doing so, it democratises AI access and gives businesses of all sizes the chance to apply AI algorithms to their data.

Once the data is unlocked and combined on the 5Y Platform, customers can leverage AI to perform advanced analytics, run predictive forecasts and automate workflows.

Here are some examples of how our customers use AI models:

• Customer churn prediction: By analysing customer behaviour and interaction data, AI models can predict which customers are likely to churn. This lets businesses proactively engage with these customers and implement retention strategies.

• Warehouse, inventory, and route optimisation: AI can optimise warehouse operations by predicting demand, managing inventory levels, and streamlining logistics routes. This results in reduced costs and improved operational efficiency.

• Operational efficiency: AI-driven analytics help identify bottlenecks and inefficiencies in business processes, enabling companies to streamline operations and improve productivity.

• Procurement insights: AI models analyse procurement data to identify cost-saving opportunities and improve procurement strategies.

• Fraud and fault prediction: AI can detect anomalies in transaction data to predict and prevent fraudulent activities.

• Demand forecasting: By analysing historical sales data and external factors like weather and economic trends, AI models can accurately forecast demand. This helps businesses manage inventory and production more effectively.

• Predictive maintenance: AI predicts when equipment is likely to fail, enabling businesses to schedule maintenance, reduce downtime, and extend the lifespan of assets.

With access to accurate and timely insights thanks to 5Y, our clients can make informed decisions that drive growth and profitability.

Start your AI journey with 5Y

At 5Y, we believe integrating AI into data projects is crucial for businesses that want to accelerate their data journey and move up the data maturity curve. Whether it's predicting customer churn, optimising warehouse operations, or enhancing operational efficiency, centralised, high-quality data is the key to unlocking your full potential.

Book a demo today to find out how 5Y’s Unified Data Platform and analytics solutions can accelerate your journey.